Model of Value Transfer in Crowdfunding and Sustainable Development of Small and Medium-Sized Enterprises in Poland—Based on Survey Research

Maria Kukurba, Mariusz Salwin () and Aneta Ewa Waszkiewicz
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Maria Kukurba: Faculty of Mechanical and Industrial Engineering, Warsaw University of Technology, 00-662 Warsaw, Poland
Mariusz Salwin: Faculty of Mechanical and Industrial Engineering, Warsaw University of Technology, 00-662 Warsaw, Poland
Aneta Ewa Waszkiewicz: Department of International Finance, SGH Warsaw School of Economics, 02-554 Warsaw, Poland

Sustainability, 2023, vol. 15, issue 16, 1-55

Abstract: This paper presents the results of a survey of small and medium-sized enterprises (SMEs) in Poland that have benefited from crowdfunding (CF). Based on these results, a new business model was developed. On this basis, the CF equity, reward and donation models were analyzed, and the impact of CF on the way of creating value in the company in the context of sustainable development was determined. The survey results show that the use of CF promotes the sustainable development of SMEs in Poland and significantly impacts their business model. In practical terms, this research has contributed to a better understanding of value creation by these companies. The results of our analysis are useful for consulting companies and CF platforms that help SMEs organize campaigns. In theoretical terms, the study conducted and the methodology used allow the presentation of a new definition of CF and a sustainable business model for a company using CF as well as contribute to the value management theory in SMEs.

Keywords: crowdfunding (CF); sustainability; sustainable value; business model; small and medium-sized enterprises; SMEs (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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