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

A crowdfunding project is a time-limited activity of one or more project authors, which consists in placing information about the project on a crowdfunding Internet resource to receive a certain amount of funds from a significant number of contributors with or without financial or material remuneration. Before placing a project, you need to evaluate all its financial aspects, its amount, and the actual term for a crowdfunding campaign. It is necessary to think over methods of motivation and ways to reward project contributors. It is also important to find like-minded people who are willing to take the time to spread information about the project, generate ideas, attract, and communicate with potential contributors. All this must be done before placing the project. Only based on a thorough analysis of the project can it be placed on the carefully selected crowdfunding platform. 1.2. Factors influencing the development of crowdfunding Crowdfunding is a broad and multifaceted concept that is influenced by a large number of factors, among which it is advisable to focus on the main ones (Table 1.2). Table 1.2 The factors in the development of crowdfunding activities General factors Special factors 1 2 Economic development of the country Activity and share of the middle class in the country State of the banking system Public confidence in innovative financial instruments The development of the market of payment cards and electronic systems Entrepreneurial activity Income of people People's propensity to save Shadowing the economy in general and the financial sector in particular Financial and technical literacy of people Availability of credit products for entrepreneurs and established businesses Availability of Internet access 22