The role of fundraising in the context of expanding sources of financing for the initiatives of domestic business entities: international experience and peculiarities of implementation in the wartime

: pp. 312 - 319
Lviv Polytechnic National University Department of Foreign Trade and Customs
Lviv Polytechnic National University, Ukraine

During the last eight years, since the beginning of the Russian-Ukrainian war, some volunteer organizations that were created to help the Ukrainian army were able not only to expand  their activities, but also to transform into charitable organizations with a defined management structure and areas of activity. In order to ensure the effective functioning of such entities, it is necessary to attract constantly financial resources, in particular, for medium- and long-term planning of their work. Fundraising is one of the ways to accumulate resources, particularly financial. There are various forms of co-financing and fundraising that strengthen the organization, including those ones engaged in foreign economic operations, both financially and contribute to the expansion of partnership. Therefore, modern volunteer organizations are a successful example of such tools implementation. In fact, funds are most often raised for charitable foundations, public organizations, etc. with the help of fundraising. However, in the modern realities of Ukrainian entrepreneurship, the use of fundraising tools can be used to preserve and develop the potential of domestic companies engaged in foreign economic operations in wartime.

It was found that various scientists define the concept of fundraising as a complex system of activities or a method of communication. It has also been clarified which tools are used to implement the fundraising process within the framework of the activities of non-profit organizations and those engaged in foreign economic operations.

Some peculiarities of fundraising activities in the United States of America were identified in terms of the high level of development of a democratic society, in particular, the importance of image, gaining customer loyalty, and holding physical events. By the way, an example of the successful attraction of financial resources by the charitable foundation “Povernys zhyvym” (“Come Back Alive”) as one of the most famous in Ukraine is given. Recommendations for domestic enterprises engaged in foreign economic operations seeking to attract financial resources for socially oriented projects are highlighted and listed.

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