Trends in the development of crowdfunding in the domestic business environment

Abstract

The article examines the interpretation of the economic essence of crowdfunding by various scholars, its features and foreign experience of application in financing ideas and projects in various spheres of socio-economic life. In the context of globalization the opening of new markets and opportunities, intensification of capital exchange processes, the use of innovative financial solutions can have a positive impact on national competitiveness and attract small businesses and individuals with innovative ideas but do not have sufficient financial resources for their development and implementation. It is described that crowdfunding is a fundraising tool that with the help of Internet technologies allows to receive investments in a short time from a large number of people to support small or medium business projects, while crowdfunding participants are: project authors, project donors, Internet workers and the state as a regulator of these relations. The main indicators that need to be analyzed if you want to use crowdfunding as a tool of alternative financing of self-organizing economic systems, in particular are: analysis of macroeconomic indicators in the country of its application; comparison of risks of economic development and introduction of crowdfunding; creation of state measures to stimulate the economy and ensure information and financial security at all levels of crowdfunding regulation. The main models of crowdfunding that are used in world practice are described: P2P (Peer-to-Peer) for financing of individuals and P2B (Peer-to-Business) for financing of small and medium business. The main advantages and disadvantages of crowdfunding and the possibility of its application in different economies are considered. The advantages are the improvement of the project management process and increase of their efficiency through the establishment of feedback, the efficiency of which increases significantly due to the use of modern Internet technologies, which allows to transfer a significant part of project monitoring functions to investors. The disadvantage of crowdfunding is the impossibility of its application to large-scale projects that require large investments. The Strategy of the Development of the Financial Sector of Ukraine until 2025 has been studied, according to which it is envisaged to improve the regulation of the payment market infrastructure in accordance with EU standards and to create a large number of FinTech companies in Ukraine.