Crowdequity and Crowdlending: two alternatives for very small, small and medium-sized firms. The case of Gifts for Change

Crowdequity et Crowdlending: deux alternatives de financement des TPE/PME. Le cas de l'entreprise Gifts for Change

Imen Mejri, Malek Hamouda and Donia Trabelsi ()
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Imen Mejri: NEOMA - Neoma Business School
Malek Hamouda: ISG - ISG Programme Business & Management (IONIS Education Group)
Donia Trabelsi: IMT-BS - DEFI - Département Droit, Économie et Finances - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris], LITEM - Laboratoire en Innovation, Technologies, Economie et Management (EA 7363) - UEVE - Université d'Évry-Val-d'Essonne - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris]

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Abstract: Reward-based crowdfunding has thrived in recent years. It offers an alternative solution to the funding problems of very small, small and medium-sized companies. The advantages and limits of reward-based crowdfunding are examined in comparison with traditional funding ; and light is shed on the specific characteristics of crowdlending and crowdequity used by the company (Gifts for Change) at the center of this study. Since the conditions related to reward-based crowdfunding are adapted to some projects but not to others, the choice between crowdlending and crowdequity varies depending on the company's stage of growth. Key recommendations are formulated for entrepreneurs who want to use reward-based crowdfunding.

Date: 2018-03
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Published in Gérer et Comprendre. Annales des Mines, 2018, 131, pp.36 - 50. ⟨10.3917/geco1.131.0036⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02333928

DOI: 10.3917/geco1.131.0036

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