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Is crowdfunding a viable alternative to borrowing from the bank?

Film director Nick Higgins and crowdfunding website founder Michelle Rodger joined Scotland Tonight.

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With banks increasingly reluctant to lend in a recession, people trying to start up new business ventures are increasingly turning to the online phenomenon of crowdfunding.

Actor Zach Braff raised $1m in a day on Kickstarter for his latest movie project, Wish I Was Here, and artists and musicians have found it a way to finance ideas that conventional funding streams won't consider.

But is attracting seed capital from total strangers entirely risk-free? And what are the incentives for people who give money to untested entrepreneurs?

Film director Nick Higgins, who crowdsourced his latest film We Are Northern Lights, and Michelle Rodger, co-founder of the crowdfunding site Bloom VC, joined the Scotland Tonight studio.

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