Analysis of Crowdfunding Research and Studies
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This assignment involves analyzing a list of research papers and studies related to crowdfunding, covering topics such as motivations for participation, crowdfunding models, and the dynamics of crowdfunding platforms. The analysis will provide an overview of the current state of knowledge in the field and highlight potential areas for further research.
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Table of Contents
INTRODUCTION...........................................................................................................................1
Literature Review............................................................................................................................1
Research Aims and Objectives (50)................................................................................................4
Research Methodology....................................................................................................................5
Research Design:.........................................................................................................................5
Research Philosophy:...................................................................................................................5
Research approaches:...................................................................................................................5
Nature of research:.......................................................................................................................6
Time Frame:.................................................................................................................................6
Data collection:............................................................................................................................6
Sampling..........................................................................................................................................7
Accessibility....................................................................................................................................7
Ethical issues...................................................................................................................................8
Significance.....................................................................................................................................8
Deliverables.....................................................................................................................................8
Required resources...........................................................................................................................9
Gantt Chart.......................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
INTRODUCTION...........................................................................................................................1
Literature Review............................................................................................................................1
Research Aims and Objectives (50)................................................................................................4
Research Methodology....................................................................................................................5
Research Design:.........................................................................................................................5
Research Philosophy:...................................................................................................................5
Research approaches:...................................................................................................................5
Nature of research:.......................................................................................................................6
Time Frame:.................................................................................................................................6
Data collection:............................................................................................................................6
Sampling..........................................................................................................................................7
Accessibility....................................................................................................................................7
Ethical issues...................................................................................................................................8
Significance.....................................................................................................................................8
Deliverables.....................................................................................................................................8
Required resources...........................................................................................................................9
Gantt Chart.......................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
INTRODUCTION
Crowd funding is considered to be an effective source of finance which allows founders of
both profit and not for profit organization to fund their business from relatively large number of
individuals with the help of internet. The present research aims at ascertain the implications for
SMEs using crowdfunding in order to achieve growth in the UK market. It will help in gathering
adequate amount of data related to various models of crowd funding. A high range of
development in the number of SMEs in UK have been noticed which requires a shift from
traditional source of financing. Hence, the research will also be helpful in ascertaining various
advantages and disadvantages that are directly related to crowdfunding for various types of
SMEs present in the economy.
Literature Review
Overview to crowd funding
According to Belleflamme, Lambert and Schwienbacher, (2014) crowdfunding is
considered to be a practice of funding a particular project in such a manner that a small amount
of money can be generated from a large number of people, typically with the help of internet.
Crowdfunding is a common source of crowdsourcing and an alternative method of arranging
finance for a particular activity. It plays an important role in arranging wide range of funds for
entrepreneurial ventures which are actually being established for profits, generally for artistic
and creative projects. It is also helpful in community oriented social entrepreneurship projects as
well. However, in contrast to this, as per the views of Agrawal, Catalini and Goldfarb, (2014)
crowdfunding is a small amount of capital being arranged from various individuals to finance
some new ventures. It is an easy method that is generally adopted due to its effective
accessibility of vast network of people with the help of social media and other crowd funding
websites available these days. These websites tend to bring various entrepreneurs and investors
together which help in increasing the scope of investment and thereby entrepreneurship who can
now arrange their finances beyond their traditional circle, that is, venture capitalists, owners,
relatives and friends. The ventures can pitch their ideas to the investors with the aim to raise
funds. There are other crowdfunding projects that are based on rewards where investor may also
take part in launching a new product for their investment.
According to Ahlers and et.al., (2015) equity-based funding is also gaining adequate
amount of popularity these days as it helps in raising adequate finances without transferring any
1
Crowd funding is considered to be an effective source of finance which allows founders of
both profit and not for profit organization to fund their business from relatively large number of
individuals with the help of internet. The present research aims at ascertain the implications for
SMEs using crowdfunding in order to achieve growth in the UK market. It will help in gathering
adequate amount of data related to various models of crowd funding. A high range of
development in the number of SMEs in UK have been noticed which requires a shift from
traditional source of financing. Hence, the research will also be helpful in ascertaining various
advantages and disadvantages that are directly related to crowdfunding for various types of
SMEs present in the economy.
Literature Review
Overview to crowd funding
According to Belleflamme, Lambert and Schwienbacher, (2014) crowdfunding is
considered to be a practice of funding a particular project in such a manner that a small amount
of money can be generated from a large number of people, typically with the help of internet.
Crowdfunding is a common source of crowdsourcing and an alternative method of arranging
finance for a particular activity. It plays an important role in arranging wide range of funds for
entrepreneurial ventures which are actually being established for profits, generally for artistic
and creative projects. It is also helpful in community oriented social entrepreneurship projects as
well. However, in contrast to this, as per the views of Agrawal, Catalini and Goldfarb, (2014)
crowdfunding is a small amount of capital being arranged from various individuals to finance
some new ventures. It is an easy method that is generally adopted due to its effective
accessibility of vast network of people with the help of social media and other crowd funding
websites available these days. These websites tend to bring various entrepreneurs and investors
together which help in increasing the scope of investment and thereby entrepreneurship who can
now arrange their finances beyond their traditional circle, that is, venture capitalists, owners,
relatives and friends. The ventures can pitch their ideas to the investors with the aim to raise
funds. There are other crowdfunding projects that are based on rewards where investor may also
take part in launching a new product for their investment.
According to Ahlers and et.al., (2015) equity-based funding is also gaining adequate
amount of popularity these days as it helps in raising adequate finances without transferring any
1
type of ownership to the investors as it is applicable in the case of venture capitalists. Investment
generated through equity based crowdfunding ventures, are generally regulated by Securities and
Exchange Commission (SEC). However, in contrast to this, as per the opinion of Gerber, Hui
and Kuo, (2012) another type of crowdfunding technique that is quite common these days is
reward based crowdfunding technique, where entrepreneurs indulge in preselling products and
services so as to launch a business concept without incurring any type of debt or sacrifice equity
shares for investment.
Models of crowd funding
In the opinion of Wheat and et.al., (2013) crowdfunding is considered to be a major tool
in order to provide financing with the aim of aiding Small Business Enterprises. It plays a
substantial role in enhancing overall condition of the market in such a manner that it initiates ne
product and service development mechanism by providing promising ideas to people. It is a
preferable method of getting investments and fund for the organization. There are various models
of crowdfunding that can generally be used by various entrepreneurs so as to given their business
a good financial back. These models are, Donation, Reward, equity Interest and Mixed.
As per the views of Gerber and Hui, (2013) Donation model of crowdfunding refers to
financing people to work towards a good cause. It helps them to bring positivity that something
good has been done from their side normally related to some kind of social value attached to it.
The concept is actually related to sponsor where a creative field of art is promoted for artistic
work. Commonly known donation crowd funding companies functioning in UK are, Just Giving
and Space hive, which generally donate their investment for some social cause. Another special
type of donation crowd funding company is Unbound. It is responsible for offering special model
to the companies, where it crowds the organization they like to see conversion of any book idea
into reality. However, as per the views of Colombo, Franzoni and Rossi‐Lamastra, (2015) reward
crowdfunding model, where, it pledges to give certain amount of investment to the particular
company. However, the project must be able to offer something in return, such as, poster or any
piece of merchandise. Commonly known reward model functioning in UK are, Kickstarter and
Indiegogo. Other sites functioning in UK as reward crowd funding ventures are, Bloom venture
catalyst in Edinburgh and crowd funder in Exeter. These two companies, generally support
artists and creative industries.
2
generated through equity based crowdfunding ventures, are generally regulated by Securities and
Exchange Commission (SEC). However, in contrast to this, as per the opinion of Gerber, Hui
and Kuo, (2012) another type of crowdfunding technique that is quite common these days is
reward based crowdfunding technique, where entrepreneurs indulge in preselling products and
services so as to launch a business concept without incurring any type of debt or sacrifice equity
shares for investment.
Models of crowd funding
In the opinion of Wheat and et.al., (2013) crowdfunding is considered to be a major tool
in order to provide financing with the aim of aiding Small Business Enterprises. It plays a
substantial role in enhancing overall condition of the market in such a manner that it initiates ne
product and service development mechanism by providing promising ideas to people. It is a
preferable method of getting investments and fund for the organization. There are various models
of crowdfunding that can generally be used by various entrepreneurs so as to given their business
a good financial back. These models are, Donation, Reward, equity Interest and Mixed.
As per the views of Gerber and Hui, (2013) Donation model of crowdfunding refers to
financing people to work towards a good cause. It helps them to bring positivity that something
good has been done from their side normally related to some kind of social value attached to it.
The concept is actually related to sponsor where a creative field of art is promoted for artistic
work. Commonly known donation crowd funding companies functioning in UK are, Just Giving
and Space hive, which generally donate their investment for some social cause. Another special
type of donation crowd funding company is Unbound. It is responsible for offering special model
to the companies, where it crowds the organization they like to see conversion of any book idea
into reality. However, as per the views of Colombo, Franzoni and Rossi‐Lamastra, (2015) reward
crowdfunding model, where, it pledges to give certain amount of investment to the particular
company. However, the project must be able to offer something in return, such as, poster or any
piece of merchandise. Commonly known reward model functioning in UK are, Kickstarter and
Indiegogo. Other sites functioning in UK as reward crowd funding ventures are, Bloom venture
catalyst in Edinburgh and crowd funder in Exeter. These two companies, generally support
artists and creative industries.
2
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As per the views of Belleflamme, Lambert and Schwienbacher, (2013) equity crowd
funding model is where project management is able to offer a share of profits to the crowd, that
is, who have invested in the entity. The investor is able to receive a share of profits. It can be a
risky method, adopted by start ups as the organization have to pass a test before investment is
made by the party. Moreover, a part of control is also transferred to the investors and the
entrepreneurs can not make any type decision alone, in this scenario. Legal help in also required
to be taken by small business enterprise so as to ensure that everything is correct between
investor and entity at the time of equity based crowdfunding technique. Investors generally look
upon area of growth and ensure that whether the organization will be able to fulfil the
requirements of it or not. However, in contrast to this, as per the opinion of Lehner, (2013)
another type of crowdfunding model is interest crowdfunding, whose concept is quite similar to
getting a loan from bank. The only difference is, organization tend to get loan from crowd in
interest crowd funding model for arranging finances. Another issue that is related to this
technique is that, the interest rate of getting finances can higher in comparison to the other
sources of finances. However, there is no transfer of ownership of decision making aspect in this
model. Hence, all the decisions are made by the core team of the business without any type of
interference.
According to the views of Stemler, (2013) mixed crowd funding models work on the
concept of ix and match of other crowd funding sources available with the organization. For
instance, Crowdbnk is a platform offering organization a chance of having reward and equity
campaign. Based upon the suitability of organization, it can opt for crowdfunding technique so as
to serve the purpose and lead the organization towards economic growth.
Advantages and disadvantages of crowdfunding
According to the views of Lin and Viswanathan, (2015) businesses are seeking benefits
through raising finances in the form of crowdfunding. Since, financing ios always a challenge for
the newly set up businesses, it becomes important to consider crowdfunding as an active source
of finance for the business. There are various advantages attached to the use of this technique of
finance. It is considered to be a fast method of raising finance with no upfront fees coming over
the business due to fund generation activity. Another aspect is that, the technique helps in
pitching the idea through various online sources which can be a valuable form of marketing
gathering adequate amount of media attention. The organization is able to collect views and
3
funding model is where project management is able to offer a share of profits to the crowd, that
is, who have invested in the entity. The investor is able to receive a share of profits. It can be a
risky method, adopted by start ups as the organization have to pass a test before investment is
made by the party. Moreover, a part of control is also transferred to the investors and the
entrepreneurs can not make any type decision alone, in this scenario. Legal help in also required
to be taken by small business enterprise so as to ensure that everything is correct between
investor and entity at the time of equity based crowdfunding technique. Investors generally look
upon area of growth and ensure that whether the organization will be able to fulfil the
requirements of it or not. However, in contrast to this, as per the opinion of Lehner, (2013)
another type of crowdfunding model is interest crowdfunding, whose concept is quite similar to
getting a loan from bank. The only difference is, organization tend to get loan from crowd in
interest crowd funding model for arranging finances. Another issue that is related to this
technique is that, the interest rate of getting finances can higher in comparison to the other
sources of finances. However, there is no transfer of ownership of decision making aspect in this
model. Hence, all the decisions are made by the core team of the business without any type of
interference.
According to the views of Stemler, (2013) mixed crowd funding models work on the
concept of ix and match of other crowd funding sources available with the organization. For
instance, Crowdbnk is a platform offering organization a chance of having reward and equity
campaign. Based upon the suitability of organization, it can opt for crowdfunding technique so as
to serve the purpose and lead the organization towards economic growth.
Advantages and disadvantages of crowdfunding
According to the views of Lin and Viswanathan, (2015) businesses are seeking benefits
through raising finances in the form of crowdfunding. Since, financing ios always a challenge for
the newly set up businesses, it becomes important to consider crowdfunding as an active source
of finance for the business. There are various advantages attached to the use of this technique of
finance. It is considered to be a fast method of raising finance with no upfront fees coming over
the business due to fund generation activity. Another aspect is that, the technique helps in
pitching the idea through various online sources which can be a valuable form of marketing
gathering adequate amount of media attention. The organization is able to collect views and
3
feedbacks of people with respect to products and services offered and ascertain whether people
are ready to invest in the provided business idea or not. It also helps in estimating future growth
with respect to product and services being offered by it in the end. It helps in making investor a
loyal customer based upon the financing process used by new venture. However, in contrast to
this, as per the views of Harrison, (2013) crowdfunding may not be an easy process of gathering
finances, in comparison to that of other traditional method of financing. All the companies
applying for crowdfunding may not be able to get finances through it. It becomes important to
build the interest of investors and pitch in the most effective manner otherwise the process of
gathering finance through crowdfunding may become tedious for the corporation. Another
disadvantage to this funding approach is that failed project can risk to damage the reputation of a
business. If the idea or innovative business is not protected, the organization may face issues
related to patent or copyright. The idea may also be stolen from crowd funding websites, during
its display, very easily. It can be stated that, crowdfunding is an alternative method of raising
finance for any business. Before making any decision related to investment, on must ensures that
the method of finance will be able to meet the requirements related to business or not.
According to Crowdfunding models explained, (2016) it becomes important to
effectively choose the method of crowdfunding that is going to be used by the organization for
investment purposes. Further, ability of evaluation and picking the project helps in allocating
investments in the economy so that it can ultimate leads to economic growth for the country. It
will also help in serving the requirements of the customers in such a manner that the overall
demand and supply of the particular product and services to the best possible extend, effectively
contributing the overall GDP of the country.
Research Aims and Objectives (50)
The aim for present research is “To ascertain the implications for SMEs using
crowdfunding in order to achieve growth in the UK market”
Based on the above aim, following objectives can be framed:
To understand different models of crowdfunding and their preferences among SMEs in
the UK manufacturing sector.
To critically examine how crowdfunding could contribute to achieving business growth
in UK SMEs.
4
are ready to invest in the provided business idea or not. It also helps in estimating future growth
with respect to product and services being offered by it in the end. It helps in making investor a
loyal customer based upon the financing process used by new venture. However, in contrast to
this, as per the views of Harrison, (2013) crowdfunding may not be an easy process of gathering
finances, in comparison to that of other traditional method of financing. All the companies
applying for crowdfunding may not be able to get finances through it. It becomes important to
build the interest of investors and pitch in the most effective manner otherwise the process of
gathering finance through crowdfunding may become tedious for the corporation. Another
disadvantage to this funding approach is that failed project can risk to damage the reputation of a
business. If the idea or innovative business is not protected, the organization may face issues
related to patent or copyright. The idea may also be stolen from crowd funding websites, during
its display, very easily. It can be stated that, crowdfunding is an alternative method of raising
finance for any business. Before making any decision related to investment, on must ensures that
the method of finance will be able to meet the requirements related to business or not.
According to Crowdfunding models explained, (2016) it becomes important to
effectively choose the method of crowdfunding that is going to be used by the organization for
investment purposes. Further, ability of evaluation and picking the project helps in allocating
investments in the economy so that it can ultimate leads to economic growth for the country. It
will also help in serving the requirements of the customers in such a manner that the overall
demand and supply of the particular product and services to the best possible extend, effectively
contributing the overall GDP of the country.
Research Aims and Objectives (50)
The aim for present research is “To ascertain the implications for SMEs using
crowdfunding in order to achieve growth in the UK market”
Based on the above aim, following objectives can be framed:
To understand different models of crowdfunding and their preferences among SMEs in
the UK manufacturing sector.
To critically examine how crowdfunding could contribute to achieving business growth
in UK SMEs.
4
To critically discuss the opportunities and drawbacks of crowdfunding in the UK
manufacturing sector.
Research Methodology
This part would be providing details about which type of sampling techniques would be
used and how would collected data be analysed in order to find out results and conclusion in
better and easy way out.
Research Design:
This would be providing details of research plan that what and how it is to be done which
must be positively and logically connected with aims or objectives of research that was set up at
starting (Xu, Zheng and Wang, 2016). Design is based on methods and procedures of collecting
and then analysing objectives that are related with research problems.
Research Philosophy:
The part which is telling and explaining why we are using particular type of data and why
we are not considering the other one or why this specific type of data collection techniques
would be applied within. Like there are mainly 2 types of research philosophy or paradigm
which are positivism and interpretivism only one of them could be applied in a research paper
(Kozinets, 2012). Positivism is associated with knowledge that is based on common experience
and relations and thus helping us to interpret the data into more logical and reasonable way out.
All this type is always based on sensory experience which is specified in context of source of
information. In the following present topic that is based on crowdfunding models and their
implications for the manufacturing SME within context of UK. It would be understanding all
aspects and parameters of this topic what managers of SME is thinking about the source of
funding and whether it is good for the support on their growth and achievement of business goal
or not. So researcher would be using or applying positivism as tool of philosophy only.
Research approaches:
As we have seen in the above para that researcher is using and applying positivism
philosophy which would be focusing on whether managers of SME is ready to use crowdfunding
as their one of source of funding or not. Thus, the research which is conducted is mainly based
on pecking order theory which is engaged into testing of two or more hypothesis rather than just
creating them. There are two type of research approaches namely inductive and deductive in one
5
manufacturing sector.
Research Methodology
This part would be providing details about which type of sampling techniques would be
used and how would collected data be analysed in order to find out results and conclusion in
better and easy way out.
Research Design:
This would be providing details of research plan that what and how it is to be done which
must be positively and logically connected with aims or objectives of research that was set up at
starting (Xu, Zheng and Wang, 2016). Design is based on methods and procedures of collecting
and then analysing objectives that are related with research problems.
Research Philosophy:
The part which is telling and explaining why we are using particular type of data and why
we are not considering the other one or why this specific type of data collection techniques
would be applied within. Like there are mainly 2 types of research philosophy or paradigm
which are positivism and interpretivism only one of them could be applied in a research paper
(Kozinets, 2012). Positivism is associated with knowledge that is based on common experience
and relations and thus helping us to interpret the data into more logical and reasonable way out.
All this type is always based on sensory experience which is specified in context of source of
information. In the following present topic that is based on crowdfunding models and their
implications for the manufacturing SME within context of UK. It would be understanding all
aspects and parameters of this topic what managers of SME is thinking about the source of
funding and whether it is good for the support on their growth and achievement of business goal
or not. So researcher would be using or applying positivism as tool of philosophy only.
Research approaches:
As we have seen in the above para that researcher is using and applying positivism
philosophy which would be focusing on whether managers of SME is ready to use crowdfunding
as their one of source of funding or not. Thus, the research which is conducted is mainly based
on pecking order theory which is engaged into testing of two or more hypothesis rather than just
creating them. There are two type of research approaches namely inductive and deductive in one
5
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of them we are to create theory and in another one we would be testing them with the use of
various methods (Bechter, Jentzsch and Frey, 2011). So in this current topic where we need to
build up hypothesis and then test them or their relationship with one another it is easy for
researcher to use deductive approach hence telling how the hypothesis would be related to each
other.
Nature of research:
This is telling the researcher that whether they would be explaining topic or exploring it
so there are basically two types of nature of research i.e., exploratory and explanatory (Harvey
and Myers, 2015). In this current theory or research we would be using exploratory which is
helping us to explore the given research problem that was not studied at any time before. It
would be highlighting the factors and their implications on businesses if the managers of SME is
using crowdfunding as their source of funding. Thus analysing such problem and then building
up hypothesis or more clarity on that topic is essential which would be pointing out further issues
which would arise in near future. In checking out that whether crowdfunding is good and better
source of funding especially for SME business and should management use it or not.
Time Frame:
This is focusing on which time period would this study or theory it is referring or on what
case the study is going on. There are two types of time frame namely cross-sectional and
longitudinal so in this current study we would be using and applying cross-sectional one (Gerber
and Churchill, 2014). Under this type researcher is studying case of will managers of SME
business is using crowdfunding as their source of collection of funds or capital or not will it be
useful for them or not. The case would be focusing on issues that are related to today or this
current time period so cross-sectional is used. Thus, this is showing and collecting of data over
specified time like data that is collected within few weeks only so cross-sectional should be used.
All the data that is collected under this type of time frame should be independent from any
external influences which could change or effect data over longer duration of time.
Data collection:
This being the most important issue or part of any form of research that would be carried
on this is telling that how researcher is collecting their information which must be connected to
topic and its hypothesis. All the data which we are to collect should be justifying our case or
6
various methods (Bechter, Jentzsch and Frey, 2011). So in this current topic where we need to
build up hypothesis and then test them or their relationship with one another it is easy for
researcher to use deductive approach hence telling how the hypothesis would be related to each
other.
Nature of research:
This is telling the researcher that whether they would be explaining topic or exploring it
so there are basically two types of nature of research i.e., exploratory and explanatory (Harvey
and Myers, 2015). In this current theory or research we would be using exploratory which is
helping us to explore the given research problem that was not studied at any time before. It
would be highlighting the factors and their implications on businesses if the managers of SME is
using crowdfunding as their source of funding. Thus analysing such problem and then building
up hypothesis or more clarity on that topic is essential which would be pointing out further issues
which would arise in near future. In checking out that whether crowdfunding is good and better
source of funding especially for SME business and should management use it or not.
Time Frame:
This is focusing on which time period would this study or theory it is referring or on what
case the study is going on. There are two types of time frame namely cross-sectional and
longitudinal so in this current study we would be using and applying cross-sectional one (Gerber
and Churchill, 2014). Under this type researcher is studying case of will managers of SME
business is using crowdfunding as their source of collection of funds or capital or not will it be
useful for them or not. The case would be focusing on issues that are related to today or this
current time period so cross-sectional is used. Thus, this is showing and collecting of data over
specified time like data that is collected within few weeks only so cross-sectional should be used.
All the data that is collected under this type of time frame should be independent from any
external influences which could change or effect data over longer duration of time.
Data collection:
This being the most important issue or part of any form of research that would be carried
on this is telling that how researcher is collecting their information which must be connected to
topic and its hypothesis. All the data which we are to collect should be justifying our case or
6
questions and problem that was laid down at the starting of research plan (Ley and Weaven,
2011). So as we are to carry on research on what are the basic models of crowdfunding and will
this be useful for managers of SME business in meeting their goals of growth into market. In this
particular part researcher is using or applying quantitative type of data collection techniques that
is providing clearer and better insights into topic. Under this type researcher is analysing that
what is response rate of finding out answers to questions and collection of data in a measurable
way so that solution could be made in effective and efficient manner. Quantitative data collection
technique is based on gathering data which is form of numeric version and then from various
statistical analysis tools would be used that is best suited to relate to current issue.
Sampling
This part is considering that which type of sample from given population would be used
so that we could make out more specified results and conclusion could be drawn out. Sampling
would be meaning that from a given large piece of population what type of population researcher
is meant to utilize so that he could be able to make out results in accurate manner (Bechter,
Jentzsch and Frey, 2011). So we have to take out benefits if managers of SME are to use
crowdfunding as their source of fund or capital collection. Researcher is using about 10 SMEs
and including their managers so that they could be able to make out what are the benefits of
crowdfunding for the growth of market of UK. 10 managers of 10 SME would be chosen to
analyse the effect of crowdfunding on their business and growth into market.
Accessibility
Since, the study is required to be conducted at a public domain, it can be stated that it will
become difficult if data will be gathered through visiting each and every SME. Hence, to ease
down the process of research, all the data will be collected through google forms or e mails.
Contact information and names of all the SMEs will be collected to ensure that 10 SMEs for
sample can be ascertained in the best possible manner. All the primary and secondary data will
be collected through an ethical access. No information is collected in an unethical manner whose
access was restricted to the researcher. The advent digital network has been able to stimulate
global access to the important data that is quite beneficial for researcher to consider all the
important aspect related to subject matter. The secondary data collected has been accessed
through books, journals and other online sources, where, researcher can use it to solve the
7
2011). So as we are to carry on research on what are the basic models of crowdfunding and will
this be useful for managers of SME business in meeting their goals of growth into market. In this
particular part researcher is using or applying quantitative type of data collection techniques that
is providing clearer and better insights into topic. Under this type researcher is analysing that
what is response rate of finding out answers to questions and collection of data in a measurable
way so that solution could be made in effective and efficient manner. Quantitative data collection
technique is based on gathering data which is form of numeric version and then from various
statistical analysis tools would be used that is best suited to relate to current issue.
Sampling
This part is considering that which type of sample from given population would be used
so that we could make out more specified results and conclusion could be drawn out. Sampling
would be meaning that from a given large piece of population what type of population researcher
is meant to utilize so that he could be able to make out results in accurate manner (Bechter,
Jentzsch and Frey, 2011). So we have to take out benefits if managers of SME are to use
crowdfunding as their source of fund or capital collection. Researcher is using about 10 SMEs
and including their managers so that they could be able to make out what are the benefits of
crowdfunding for the growth of market of UK. 10 managers of 10 SME would be chosen to
analyse the effect of crowdfunding on their business and growth into market.
Accessibility
Since, the study is required to be conducted at a public domain, it can be stated that it will
become difficult if data will be gathered through visiting each and every SME. Hence, to ease
down the process of research, all the data will be collected through google forms or e mails.
Contact information and names of all the SMEs will be collected to ensure that 10 SMEs for
sample can be ascertained in the best possible manner. All the primary and secondary data will
be collected through an ethical access. No information is collected in an unethical manner whose
access was restricted to the researcher. The advent digital network has been able to stimulate
global access to the important data that is quite beneficial for researcher to consider all the
important aspect related to subject matter. The secondary data collected has been accessed
through books, journals and other online sources, where, researcher can use it to solve the
7
universal problem undergoing in the crowdfunding industry (Lehner, 2013). Hence, it can be
stated that for the present research, accessibility is quite wide for the researcher.
Ethical issues
In accordance with the ethical consideration, it is important for the researcher to make
sure that they provide all type of information to respondents. This is important to be considered
as it enables to provide reliable findings. Further, a suitable system should be used so that
personal information should be stored and is not misused. In addition to this, no information will
be gathered which can causes serious issue to the respondent (Mollick, 2014). As per the current
research, email id are required to be considered and taken so that investigators are able to
communicate with them on regular basis and details regarding research can be provided. Further,
there are secondary sources used and the data from it can not be used as it is because this can
increase the risk of plagiarism. Moreover, all the data used from secondary sources should be
cited in order to make the source reliable. There are conditions in which account is needed to be
made in order to get access for journals.
Significance
There are many companies around the world that are focused on delivering their
customers with high quality services. These are attained when they are able to full the
requirements of service users. Different types of activities are carried out by small medium
enterprise and they fail to perform them in effective manner due to lack of proper planning in
cost. There are activities that are to be completed but for each of them there are certain cost
incurred (Agrawal, Catalini and Goldfarb, 2011). Main focus of the research is carried out to
determine the implication of crowding for manufacturing SME’s in UK. The type of contribution
made with the help of crowed funding. Further, it also helps to attain the set of goals and
objectives in effective manner. However, there is one of the main issue that is also found and that
is to the total amount that will be attained is not fixed as the amount that will be provided for the
same differs when compared with others.
Deliverables
To conduct the research in appropriate manner, there are certain activities that are set out
and each of them has certain time period which is decided. All these are done so that the tasks set
can be completed within speculated time period. In conditions when any of the task gets delayed
at the initial stage, then all other following activities will also get delayed. For the current
8
stated that for the present research, accessibility is quite wide for the researcher.
Ethical issues
In accordance with the ethical consideration, it is important for the researcher to make
sure that they provide all type of information to respondents. This is important to be considered
as it enables to provide reliable findings. Further, a suitable system should be used so that
personal information should be stored and is not misused. In addition to this, no information will
be gathered which can causes serious issue to the respondent (Mollick, 2014). As per the current
research, email id are required to be considered and taken so that investigators are able to
communicate with them on regular basis and details regarding research can be provided. Further,
there are secondary sources used and the data from it can not be used as it is because this can
increase the risk of plagiarism. Moreover, all the data used from secondary sources should be
cited in order to make the source reliable. There are conditions in which account is needed to be
made in order to get access for journals.
Significance
There are many companies around the world that are focused on delivering their
customers with high quality services. These are attained when they are able to full the
requirements of service users. Different types of activities are carried out by small medium
enterprise and they fail to perform them in effective manner due to lack of proper planning in
cost. There are activities that are to be completed but for each of them there are certain cost
incurred (Agrawal, Catalini and Goldfarb, 2011). Main focus of the research is carried out to
determine the implication of crowding for manufacturing SME’s in UK. The type of contribution
made with the help of crowed funding. Further, it also helps to attain the set of goals and
objectives in effective manner. However, there is one of the main issue that is also found and that
is to the total amount that will be attained is not fixed as the amount that will be provided for the
same differs when compared with others.
Deliverables
To conduct the research in appropriate manner, there are certain activities that are set out
and each of them has certain time period which is decided. All these are done so that the tasks set
can be completed within speculated time period. In conditions when any of the task gets delayed
at the initial stage, then all other following activities will also get delayed. For the current
8
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research, the investigator has aimed at using an effective plan that can make the research aspects
within speculated time period.
Required resources
Various type of resources is needed so that the research is conducted. With this respect,
main focus that is needed to be made is in relation with financial resource (Kuppuswamy and
Bayus, 2018). To conduct the research, there are needs of appropriate plan to be develop for cost
involved, then these are not done efficiently, then it can cause serious problem to conduct.
Further, it also requires to have key people involved.
Gantt Chart
Activity 1th
Week
2nd
Wee
k
3rd
Week
4th
Wee
k
5th
Week
6th
We
ek
7th
Week
8th
Wee
k
9th
Week
10th
Week
Identify
researc
h topic
Review
of
Literat
ure
Draftin
g
Method
ologies
Comple
te
Propos
al
Design
questio
9
within speculated time period.
Required resources
Various type of resources is needed so that the research is conducted. With this respect,
main focus that is needed to be made is in relation with financial resource (Kuppuswamy and
Bayus, 2018). To conduct the research, there are needs of appropriate plan to be develop for cost
involved, then these are not done efficiently, then it can cause serious problem to conduct.
Further, it also requires to have key people involved.
Gantt Chart
Activity 1th
Week
2nd
Wee
k
3rd
Week
4th
Wee
k
5th
Week
6th
We
ek
7th
Week
8th
Wee
k
9th
Week
10th
Week
Identify
researc
h topic
Review
of
Literat
ure
Draftin
g
Method
ologies
Comple
te
Propos
al
Design
questio
9
n and
pilot
researc
h
Docum
entatio
n of
records
Analysi
ng data
and
interpr
etation
Discuss
ion and
Conclu
sion
Final
Report
Editing
&
Comple
tion
CONCLUSION
From the above report, it can be concluded that, crowd funding is contemporary yet
effective source of funding for the business where funds can be gathered from various individual
at an online portal. It can be stated that it acts as a major utility function for the business who
have recently set up with some new and innovative ideas and looking for finances. The proposal
10
pilot
researc
h
Docum
entatio
n of
records
Analysi
ng data
and
interpr
etation
Discuss
ion and
Conclu
sion
Final
Report
Editing
&
Comple
tion
CONCLUSION
From the above report, it can be concluded that, crowd funding is contemporary yet
effective source of funding for the business where funds can be gathered from various individual
at an online portal. It can be stated that it acts as a major utility function for the business who
have recently set up with some new and innovative ideas and looking for finances. The proposal
10
have identified that both primary and secondary source of financing will be used by the research
so as to fulfil the requirements of aim being framed by the researcher.
11
so as to fulfil the requirements of aim being framed by the researcher.
11
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REFERENCES
Books and Journals
Agrawal, A. K., Catalini, C. and Goldfarb, A., 2011. The geography of crowdfunding (No.
w16820). National bureau of economic research.
Agrawal, A., Catalini, C. and Goldfarb, A., 2014. Some simple economics of
crowdfunding. Innovation Policy and the Economy. 14(1). pp.63-97.
Ahlers, G. K. and et.al., 2015. Signaling in equity crowdfunding. Entrepreneurship Theory and
Practice. 39(4). pp.955-980.
Bechter, C., Jentzsch, S. and Frey, M., 2011. From wisdom to wisdom of the crowd and
crowdfunding.
Belleflamme, P., Lambert, T. and Schwienbacher, A., 2013. Individual crowdfunding
practices. Venture Capital. 15(4). pp.313-333.
Belleflamme, P., Lambert, T. and Schwienbacher, A., 2014. Crowdfunding: Tapping the right
crowd. Journal of business venturing. 29(5). pp.585-609.
Colombo, M. G., Franzoni, C. and Rossi‐Lamastra, C., 2015. Internal social capital and the
attraction of early contributions in crowdfunding. Entrepreneurship Theory and
Practice. 39(1). pp.75-100.
Gerber, E. M. and Hui, J., 2013. Crowdfunding: Motivations and deterrents for
participation. ACM Transactions on Computer-Human Interaction (TOCHI). 20(6). p.34.
Gerber, E. M., Hui, J. S. and Kuo, P. Y., 2012, February. Crowdfunding: Why people are
motivated to post and fund projects on crowdfunding platforms. In Proceedings of the
International Workshop on Design, Influence, and Social Technologies: Techniques,
Impacts and Ethics (Vol. 2, No. 11).
Gerber, E.M., and Churchill, E.F., 2014, April. Crowdfunding: an emerging field of research.
In CHI'14 Extended Abstracts on Human Factors in Computing Systems (pp. 1093-1098).
ACM.
Harrison, R., 2013. Crowdfunding and the revitalisation of the early stage risk capital market:
catalyst or chimera?.
Harvey, L.J. and Myers, M.D., 2015. Scholarship and practice: the contribution of ethnographic
research methods to bridging the gap. Information technology & people. 8(3). pp.13-27.
12
Books and Journals
Agrawal, A. K., Catalini, C. and Goldfarb, A., 2011. The geography of crowdfunding (No.
w16820). National bureau of economic research.
Agrawal, A., Catalini, C. and Goldfarb, A., 2014. Some simple economics of
crowdfunding. Innovation Policy and the Economy. 14(1). pp.63-97.
Ahlers, G. K. and et.al., 2015. Signaling in equity crowdfunding. Entrepreneurship Theory and
Practice. 39(4). pp.955-980.
Bechter, C., Jentzsch, S. and Frey, M., 2011. From wisdom to wisdom of the crowd and
crowdfunding.
Belleflamme, P., Lambert, T. and Schwienbacher, A., 2013. Individual crowdfunding
practices. Venture Capital. 15(4). pp.313-333.
Belleflamme, P., Lambert, T. and Schwienbacher, A., 2014. Crowdfunding: Tapping the right
crowd. Journal of business venturing. 29(5). pp.585-609.
Colombo, M. G., Franzoni, C. and Rossi‐Lamastra, C., 2015. Internal social capital and the
attraction of early contributions in crowdfunding. Entrepreneurship Theory and
Practice. 39(1). pp.75-100.
Gerber, E. M. and Hui, J., 2013. Crowdfunding: Motivations and deterrents for
participation. ACM Transactions on Computer-Human Interaction (TOCHI). 20(6). p.34.
Gerber, E. M., Hui, J. S. and Kuo, P. Y., 2012, February. Crowdfunding: Why people are
motivated to post and fund projects on crowdfunding platforms. In Proceedings of the
International Workshop on Design, Influence, and Social Technologies: Techniques,
Impacts and Ethics (Vol. 2, No. 11).
Gerber, E.M., and Churchill, E.F., 2014, April. Crowdfunding: an emerging field of research.
In CHI'14 Extended Abstracts on Human Factors in Computing Systems (pp. 1093-1098).
ACM.
Harrison, R., 2013. Crowdfunding and the revitalisation of the early stage risk capital market:
catalyst or chimera?.
Harvey, L.J. and Myers, M.D., 2015. Scholarship and practice: the contribution of ethnographic
research methods to bridging the gap. Information technology & people. 8(3). pp.13-27.
12
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