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Regulation of Crowdfunding as an Object of the State Credit and Investment Policy
Ugolkova O. Z., Honchar S. Y.

Ugolkova, Olena Z., and Honchar, Svitlana Yo. (2020) “Regulation of Crowdfunding as an Object of the State Credit and Investment Policy.” Business Inform 2:407–412.
https://doi.org/10.32983/2222-4459-2020-2-407-412

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
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UDC 330.322.14.025

Abstract:
The article is aimed at studying the possibility of accounting for crowdfunding as a financial instrument in the implementation of the State’s credit and investment policy. The concept, features and main subjects of the State’s credit and investment policy are analyzed. Beyond that, the publication studies the concept of «crowdfunding», its subjects and features of implementation. Differences in crowdfunding activities in both developed and developing countries are analyzed, including: taking account of the specifics and complexities of crowdfunding; choosing a crowdfunding platform; choosing the type of campaign and its duration; analysis of the cost of placing the project on a crowdfunding platform, as well as the amount of the banking commission and commissions of payment systems; constant and high-quality content provision (video, articles, social media activity, blogging activity, etc.) in order to increase the number of project supporters; collaboration with representatives of the crowdfunding platform, business incubators, business accelerators and mentors; maximizing the use of non-financial benefits of crowdfunding (increasing trust from the public and investors, increasing new partnerships, increasing sales, increasing investment attractiveness). Crowdfunding recommendations based on studying its status in developing countries have been systematized. The impact of innovative infrastructure (business incubators, business accelerators, etc.) on the development of crowdfunding activities is identified. The dynamics of Ukrainian external debt and its share in the structure of the gross domestic product are analyzed. A number of actions is elaborated and recommended, which should be taken by the State and local authorities to carry out public administration in the sphere of crowdfunding activities. It is concluded that taking into account crowdfunding activities in the development and implementation of the State’s credit and investment policy allows the banking sector and investment intermediaries to increase their volumes of both credit and investment activities.

Keywords: crowdfunding, credit and investment policy, innovative infrastructure, public administration.

Fig.: 2. Bibl.: 8.

Ugolkova Olena Z. – Candidate of Sciences (Economics), Associate Professor, Department of Management and International Entrepreneurship, Lviv Polytechnic National University (12 Stepana Bandery Str., Lvіv, 79013, Ukraine)
Email: [email protected]
Honchar Svitlana Yo. – Postgraduate Student, Department of Management and International Entrepreneurship, Lviv Polytechnic National University (12 Stepana Bandery Str., Lvіv, 79013, Ukraine)
Email: [email protected]

List of references in article

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Vorobiova, O. I. “Kontseptualni zasady rehionalnoi kredytno-investytsiinoi polityky bankiv Ukrainy“ [Conceptual Approaches of Regional Credit-Investment Policy of Banks of Ukraine]. Svit finansiv. 2010. http://sf.tneu.edu.ua/index.php/sf/article/view/446/454
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Uholkova, O. Z. “Otsiniuvannia ta derzhavne rehuliuvannia system kraudfandynhu v natsionalnii ekonomitsi“ [Assessment and Regulation of Crowdfunding Systems in the National Economy]: dys. … kand. ekon. nauk : 08.00.03, 2019.
“Baza danykh Ministerstva finansiv“ [Ministry of Finance Database]. https://index.minfin.com.ua/ua/finance/debtgov/
Kuzmin, O., Skybinskyi, O., and Ugolkova, O. “Crowdfunding: Essence, Value and Typology“. Marketing i menedzhment innovatsiy. 2016. http://mmi.fem.sumdu.edu.ua/sites/default/files/mmi2016_2_170_180.pdf
“Crowdfunding's Potential for the Developing World, 2013“. The World Bank. Finance and Private Sector Development Department. https://www.infodev.org/infodev-files/wb_crowdfundingreport-v12.pdf

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