Characteristic peculiarities of main crowdfunding websites

Authors: 
Ugolkova O.

Lviv Polytechnic National University

The purpose of this article is to formulate the description of crowdfunding as an alternative financial instrument and to systematize the information about international experience of crowdfunding operations in order to provide the necessary information base for further detailed researches. The practical significance of the research is to develop recommendations for using the crowdfunding models of funds accumulation for small business and entrepreneurship in Ukraine. In current article, author reveals the concept of the crowdfunding and its advantages (opportunity to obtain a significant amount of financial resources in a short period, low fees of using financial recourses, ability to evaluate the potential for the newly created company, ability to realize free analysis of potential product consumers, easy registration of project). The author justifies the need of using this innovative instrument in Ukraine. In developed countries crowdfunding has become a known and effective tool for accumulating financial resources for small and medium enterprises and entrepreneurs. This method of fundraising allows realizing a significant number of projects in various fields: culture, art, IT-sector and business. Many of these projects cannot be implemented by using services of financial intermediaries, because these projects often are not profitable for financial intermediaries and their implementation involves significant level of risks. The article provides the characteristics of crowdfunding as an alternative financial instrument in order to disclosure the difference between the concepts of crowdfunding and crowdinvesting. Crowdfunding is the practice of funding the project or enterprise by the accumulation of small amounts of money from large numbers of people via internet.

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