What do we know about the choices of entrepreneurs before the equity crowdfunding campaign?

Sandra Correia (), Miguel Sousa () and Elísio Brandão
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Sandra Correia: University of Porto
Miguel Sousa: University of Porto
Elísio Brandão: University of Porto

Small Business Economics, 2024, vol. 63, issue 4, No 7, 1501 pages

Abstract: Abstract This literature survey focuses on the pre-investment phase of equity crowdfunding, encompassing three key areas: (i) a comparative analysis of equity crowdfunding (ECF) in relation to traditional sources of entrepreneurial funding, such as venture capital and business angels; (ii) a discussion on why and when entrepreneurs prefer ECF; and (iii) an in-depth examination of the diverse models of ECF platforms. This paper is relevant for both practice and research. It can help entrepreneurs to identify under what circumstances ECF might be preferable to traditional sources of start-up funding and which platform model best suits their needs. It is also relevant for research because, besides providing an organized summary of the literature on this new way of financing start-ups, it also identifies some inconsistencies and gaps in the existing literature, providing some clues for further investigations.

Keywords: Equity crowdfunding; Systematic literature review; Entrepreneurial finance (search for similar items in EconPapers)
JEL-codes: G23 L26 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s11187-023-00868-x

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