STATE AND PROSPECTS OF CROWDFUNDING DEVELOPMENT

R. V. Feshchur, O. Kuzmin, O. Skybinskyi, O. Ugolkova

Abstract


The article deals with the concept of “crowdfunding” and its features. The purpose of this article is to study the world experience of development of crowdfunding activity by regions and spheres of application, to clarificate the conceptual apparatus, to disclosure the content and the difference between the concepts of crowdfunding, crowdinvesting and crowdlending and to outline the conditions for the transfer of world experience in the domestic business environment. A brief review of alternative sources of financial resources for start–ups and innovation development projects, namely: financial assistance of friends and relatives, crowdlending and crowdinvesting, financing by business angels, venture funds, etc. (business incubators, platforms for startups) was realised. The volume and efficiency of crowdfunding operations in the USA, Netherlands, Germany and France are analyzed. In addition, the current state and features of the crowdfunding in Ukraine were investigated. Authors formulate the following conclusion: there is a significant demand for microfinance in Ukraine, which can be secured using crowdfunding models of funds accumulation. As a result, the article concludes that it is necessary to create a favorable legislative field and to popularize the notion of crowdfunding among the population in order to strengthen the confidence to this financial instrument.


Keywords


crowdfunding; crowdinvesting; entrepreneurship; start–up; venture fund; business angels.

References


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DOI: https://doi.org/10.18371/fcaptp.v2i23.121921

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Copyright (c) 2018 R. V. Feshchur, O. Kuzmin, O. Skybinskyi, O. Ugolkova

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ISSN (print) 2306-4994, ISSN (on-line) 2310-8770