International Journal For Multidisciplinary Research

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Exploring Crowd Funding as a Sustainable Financing Option among MSME in Odisha: A Case Study in Khurda District

Author(s) Sweet Agrawal, Jayashree Jethy
Country India
Abstract The Micro, Small, and Medium Enterprises (MSMEs) sector is an essential and dynamic part of the Indian economy. However, these small businesses often face challenges when it comes to raising funds. Crowd funding has become a revolutionary concept in the field of finance, transforming how people and organisations raise money for their endeavours. This study aims to assess the factors affecting crowd funding as a sustainable financing option among Micro, Small, and Medium Enterprises (MSMEs) in Odisha. It also focuses on understanding the level of awareness and knowledge about crowd funding as a new and innovative financial model among the Populace of Odisha. Based upon review of literature and further interviews with the managers of MSME the five key variables which affects the adoption of crowd funding was identified. The survey involved 385 MSMEs from various industrial clusters across Khurda district in Odisha and the samples were selected using the convenience sampling technique. The findings of the study revealed that there is a moderate level of awareness of crowd funding among MSMEs in Odisha. By understanding the current perceptions and attitudes of people of MSMEs in Odisha towards crowd funding, various stakeholders such as investors, regulators, and policymakers can make more informed decisions that can potentially empower the MSME sector and drive economic growth in the region.
Keywords MSMEs, Crowdfunding, Financing, Sustainability, Odisha, Khurda District
Field Sociology > Banking / Finance
Published In Volume 6, Issue 1, January-February 2024
Published On 2024-02-28
Cite This Exploring Crowd Funding as a Sustainable Financing Option among MSME in Odisha: A Case Study in Khurda District - Sweet Agrawal, Jayashree Jethy - IJFMR Volume 6, Issue 1, January-February 2024. DOI 10.36948/ijfmr.2024.v06i01.13970
DOI https://doi.org/10.36948/ijfmr.2024.v06i01.13970
Short DOI https://doi.org/gtkths
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