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Liburkina L. M.

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Financial Models of Inclusive Entrepreneurship Development: The Role of Crowdfunding and Social Investment
Skrylnyk A. S.

Skrylnyk, Andrii S. (2025) “Financial Models of Inclusive Entrepreneurship Development: The Role of Crowdfunding and Social Investment.” Business Inform 8:105–114.
https://doi.org/10.32983/2222-4459-2025-8-105-114

Section: Mechanisms of Regulation of the Economy

Article is written in Ukrainian
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UDC 334.7:336.77:330.32

Abstract:
Inclusive entrepreneurship development involves the participation of representatives from all social groups in business activities; however, limited access to financial resources remains a key barrier to its implementation. The aim of the article is to provide a comprehensive overview of financial models for inclusive entrepreneurship development and to assess the role of crowdfunding and social investing in this process. The study synthesizes global and national experiences in the use of these tools, performs a comparative analysis for enterprises of different sizes, and offers practical recommendations for the implementation of inclusive financial approaches. The results indicate that crowdfunding platforms and socially-oriented investment funds are gradually becoming key mechanisms for financing entrepreneurial initiatives aimed at social integration and sustainable growth. Crowdfunding has proven effective as a tool for initial financing of micro and small enterprises that face barriers to access traditional capital, while also serving a social function – uniting the community around socially significant projects. Social investing, in turn, provides long-term capital for businesses that combine financial performance with social impact, creating opportunities for scaling without losing the social mission. Therefore, the optimal model for financing inclusive entrepreneurship should take into account the stage of business development: at the initial stage – using crowdfunding and quick-access instruments, and at the growth stage – attracting social investors and combining different sources of funding. The article offers practical recommendations for developing a favorable ecosystem for inclusive finance in Ukraine. In particular, emphasis has been placed on the need to improve the regulatory framework for crowdfunding platforms, introduce mechanisms for state co-financing of socially-oriented projects, establish a national fund to support social entrepreneurship, and organize educational programs for entrepreneurs on preparing crowdfunding campaigns and assessing social impact. It is concluded that crowdfunding and social investing should be seen not as temporary trends but as strategic elements of the future financial system oriented towards the public good, whose significance for supporting inclusive entrepreneurship and socioeconomic development will continue to increase.

Keywords: inclusive entrepreneurship, financial models, financial inclusion, crowdfunding, social investing, alternative financing.

Fig.: 2. Tabl.: 1. Bibl.: 14.

Skrylnyk Andrii S. – Candidate of Sciences (Economics), Associate Professor, Candidate on Doctor Degree, Department of Finance, Banking and Taxation, National University «Yuri Kondratyuk Poltava Politechnic» (24 Pershotravnevyi Ave., Poltava, 36011, Ukraine)
Email: [email protected]

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