Fabian Demicoli

Consultation: Crowdfunding in the EU – exploring the added value of potential EU action

The European
Commission has launched a consultation inviting stakeholders to share their
views about crowdfunding: its potential benefits, risks, and the design of an
optimal policy framework to untap the potential of this new form of financing.

Commissioner
for Internal Market and Services Michel Barnier said: "Crowdfunding – this
alternative form of fundraising that is collective, participatory and
interactive – is becoming increasingly important. It has the potential to
bridge the financing gap many start-ups face and to stimulate entrepreneurship.
Considering the development of crowdfunding and the diversity of regulatory,
supervisory, fiscal and social frameworks for it across the EU, do we need a
single European framework to support both those who develop crowdfunding
platforms and to reduce the risks to those who make use of such platforms to
finance projects. That is what I am asking."

Whereas
many crowdfunding campaigns are local in nature, others would benefit from
easier access to financing within a single European market. But to make sure
crowdfunding is not just a momentary trend that fades away, but rather a
sustainable source of financing for new European projects, certain safeguards
are needed, in particular to ensure people's trust. The ultimate objective of
this consultation is to gather data about the needs of market participants and
to identify the areas in which there is a potential added value in EU action to
encourage the growth of this new industry, either through facilitative,
soft-law measures or legislative action.

The
consultation covers all forms of crowdfunding, ranging from donations and
rewards to financial investments. Everyone is invited to share their opinion
and fill in the on-line questionnaire, including citizens who might contribute
to crowdfunding campaigns and entrepreneurs who might launch such campaigns.
National authorities and crowdfunding platforms are also particularly
encouraged to reply.

The
consultation will run until 31 December 2013. It is available at: 

http://ec.europa.eu/internal_market/consultations/2013/crowdfunding/index_en.htm

 

 

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