International Journal of Finance & Managerial Accounting

International Journal of Finance & Managerial Accounting

Crowdfunding: A solution for financing small and medium-sized businesses

Articles in Press

Document Type : Original Article

Authors
atiyeh valizadeh larijani 1
Fraydoon Rahnamay Roodposhti 2
Mirfeiz Fallahshams 3
1 PhD student, Department of Financial Management, Accounting and Financial Engineering, Science and Research Branch, Islamic Azad University, Tehran, Iran.
2 Professor, Department of Financial Management, Accounting and Financial Engineering, Science and Research Branch, Islamic Azad University, Tehran, Iran.
3 Associate Professor, Department of Financial Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran.
10.22034/ijfma.2025.78685.2294
Abstract
Today, social problems such as unemployment, poverty and special illnesses require innovative solutions. Social innovation is a solution that addresses social problems by identifying innovative opportunities and resources, and the realization of social innovations requires social participation. One of the most important social problems in today's society is financing entrepreneurs, especially small and medium-sized enterprises. Crowdfunding has recently been introduced in Iran in its modern form as an innovative solution. By attracting capital from small investors, it has contributed to the expanding activities of small and medium-sized enterprises and the development of the entrepreneurial environment as one of the most important economic and strategic plans of the country. Understanding the different dimensions of crowdfunding is essential for its application in small and medium-sized companies. Therefore, in this study, dimensions related to crowdfunding, including the motivations of project owners and backers, factors affecting the success of crowdfunding behavior, the advantages, disadvantages and challenges of crowdfunding, the consequences of crowdfunding, and criteria for evaluating its performance, were identified and examined in order to make the crowdfunding process more transparent and to promote its understanding by relevant stakeholders.
Keywords
Crowdfunding
Small and medium-sized enterprises
Social participation
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International Journal of Finance & Managerial Accounting

Articles in Press, Accepted Manuscript
Available Online from 14 October 2026