Sample Business Essay on Community Development

Community Development

Community development is the substantial growth in terms of the social amenity, infrastructure and even the education of a given community. The various development projects in a community raise the standard of living of the people. The growth is usually funded by the government who particularly raise these funds from taxes. At times the government gets overwhelmed with this responsibility which in essence brings down the rate of growth in the community (Atbani, In Trullols, & Palgrave, 2014). Crowd funding has been sort to be one of the most successful ways of raising funds meant for the community development.

Employment opportunities

There has been various employment opportunities created to the community through the crowd funding for one, the funds has helped in the infrastructural development where projects on the building of roads across the community has been enabled through the funds. This building and construction has substantially created more jobs to the individuals in the community. In the year 2013, The GoFundMe Company raised US$89 million, 60% of which were used to fund various community based projects across the country projects (Atbani, In Trullols, & Palgrave,2014).

Project Completion efficiency rate

The ‘all or nothing ‘ community projects such as the building of health centers to the community has enabled the rapid accomplishment of the projects since the rule to the release of funds is that the projects must be completed  efficiently and effectively first. This has prompted a strict and effective use of the public funds. The efficient completion rate of the community development projects that are initiated by crowd funding stands at 89% (Danmayr, 2014)

Higher economic growth

High stance of economic growth has been seen in the various communities since lenders from the crowd funding offer these funds at a relatively low interest rates and hence the members of the community can affordably borrow from the fund. This brings about an efficient economic growth to the community and the nation as well (Atbani, In Trullols, & Palgrave, 2014)

Finally, as I had read, it is through crowd funding that each and every citizen can efficiently give back to the society. The community members are quite motivated since they are at a position to decide on which projects to develop in their various communities (Danmayr, 2014).

References

Danmayr, F. (2014). Archetypes of crowdfunding platforms: A multidimensional comparison.

In Atbani, F. M., In Trullols, C., & Palgrave Connect (Online service). (2014). Social impact finance.