2 What is crowdfunding?

DOI: 10.4324/9781003193975-2

Learning objectives

  • Define and explain crowdfunding and its types
  • Discuss the evolution and benefits of crowdfunding
  • Explore the characteristics of crowdfunding entrepreneurs
  • Explore how platform intermediaries or funding portals connect investors with entrepreneurs

Introduction

Entrepreneurship forms the mainstay of developed economies and is a vital contributor to employment, economic and export growth. According to the World Bank (2019), globally, small and medium-sized enterprises (SMEs) account for approximately 90% of businesses and over 50% of employment. The report also posits that SMEs are responsible for seven out of every ten jobs in emerging markets.

This clearly illustrates ...

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