Crowdfunding as a socio-economic opportunity for state support

Abstract

In the current economic environment, most enterprises have been affected by the political, economic, social situation in the country and the quarantine restrictions of 2019-2021. In the context of the development of computerization and informatization, the role of crowdfunding as an alternative way of financing creative ideas, startups, innovations, new technologies, and socially significant projects is growing. The purpose of the study is to reveal the essence of the concept of crowdfunding, its formation and development in Ukraine. The study is based on theoretical generalization, comparative analysis, methods of analysis and synthesis, which made it possible to argue the prerequisites for the successful development of crowdfunding in Ukraine and the directions of its state legislative management. It is found that crowdfunding is a tool for financing small or medium-sized business projects through an open call on the basis of social networks or the Internet, having a material or moral basis for the interest of potential investors. The principles that are characteristic of crowdfunding in terms of targeting, investor interest in the project, publicity, and the benefits of the future investor are outlined. Thanks to the SWOT analysis conducted in the study, the types of crowdfunding business models were revealed. The criteria for assessing the level of development of crowdfunding are proposed: the degree and timeliness of information support, the level of activity, diversification of platform types, interaction of the resource with the banking sector, the level of public awareness, the level of government influence. The state regulatory policy on crowdfunding in different countries is analyzed and its financial management in Ukraine is proposed. It is established that in the conditions of insufficient financial resources, crowdfunding is a qualitative alternative to standard investment methods, and its main environment of subjects in Ukraine is medium-sized enterprises. The practical value of the study is to identify the factors that impede the development of an alternative method of financing in Ukraine, as well as to provide recommendations for the further functioning of crowdfunding in the country