CROWDFUNDING SYSTEMS: evaluation and government regulation in the conditions of reengineering

ڰ opportunity to assess the potential of a newly created enterprise. The potential refers to the totality of all the company's capabilities to create and ensure the prospects of existence ( Ʉɭɡɶɦɿɧ et al., 2011). The practice of operating enterprises shows that the potential of an enterprise is influenced by three interrelated factors: competitiveness, investment attractiveness, and development of the enterprise. Due to the use of crowdfunding and crowdinvesting platforms, the author of the project immediately gets the opportunity to see the project's place in the market and analyze its competitiveness. Also, you can immediately see the first reaction of investors to the project and the presence or absence of a desire to invest in the project. It corresponds to the concept of «investment attractiveness»; ڰ free analysis of a potential product by consumers: by placing your project on a crowdfunding platform, the author of the project can immediately analyze the reaction of potential buyers to the product, service or idea offered to them, get feedback about it and pieces of advice for improvement; ڰ creating a client base: project contributors often become its first customers and consumers, most often it is about developing innovative products and cultural projects (recording a music disc, creating a film, implementing an exhibition, concert, etc); ڰ low fee (or even no fee) for using the received funds. For example, usually, there is a crowdfunding platform fee, but it is less than servicing alternative sources of funding, such as credit or investor compensation. Many project authors intentionally increase the amount they need to implement the project, taking into account the site fee; ڰ for some projects it is the only option: if banks and other financial and credit institutions refuse to finance the project, the authors of the project have no other options than applying to the society through crowd- funding platforms to accumulate monetary resources; ڰ easy project registration: to register a project, you must have a Bank account and documents confirming the identity of the project authors; and no other documents are required; ڰ the recipient remains the owner of the business and the only one who controls the implementation of the project in all cases, except for crowd- investing. V. Shvalts provides five market advantages of crowdfunding ( ɒɜɚɥɶɰ , 2013): 1. Assessment of the level of demand and risk reduction, that is, using crowdfunding, you can find potential customers and communicate with the 19