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

Fig 1.7. Distribution of the three main sources of financial resources for newly established businesses in Europe, 2015 Note: formed by the authors based on ( ɋɚɫ et al., 2014; Barnett, 2015; Statista) In such circumstances, business finance and business process reengineering require changes and innovations, so crowdfunding becomes a promising tool for attracting financial resources. Conclusions to section 1 1. In the conditions of increased competition for limited monetary resources among enterprises, crowdfunding is becoming one of the most promising and effective tools for attracting them. Crowdfunding activity is an activity aimed at accumulating financial resources from a large number of participants (contributors) for the implementation of innovative, social, and business projects by authors (recipients) using specialized Internet resources (crowdfunding platforms). A crowdfunding project is a time- limited activity of one or a few project authors (recipients), 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. 2. Many scientific papers on crowdfunding activities are analyzed. It is concluded that there is a need to deepen research in certain areas (factors of the emergence and development of crowdfunding systems, stages of Crowdinvesting 4,65% Financing with the help of business angels 70,93% Venture financing 24,42% 47