Posted on Wednesday 25 March 2015 by Ulster Business

Mark durkin

 

Ulster University Business School has secured research funding to explore the potential role of crowdfunding in small business – bank relationships.

Over the next 12 months a UK-based research team, led by Ulster University Business School, will be talking to small businesses who have used crowd-funding to set-up or grow their businesses as well as those who are thinking about it but haven’t yet taken that first step. 

In addition, senior lenders in the main banks will also be interviewed to see the extent to which they see crowd-funding as an opportunity or threat to their existing business model.

Lead researcher on the project Professor Mark Durkin said: “We were delighted to receive funding from the UK’s Institute for Small Business and Entrepreneurship (ISBE) for our proposed study into crowdfunding. For over 20 years UBS have been researching into small business – bank relationships and the outcomes of that work have informed both policy and practice in NI. As we move into a more digitised economy, crowdfunding and its potential impact on SME-Bank lending relationships is an important next area of focus for our on-going analysis.”

Colleague and fellow researcher Dr Darryl Cummins added, “Together with our colleagues in Kent Business School and the Institute for Financial Services in London we are hoping to add to the growing knowledge base around crowdfunding in the context of alternative sources of finance.”

The study, which has just begun, is UK wide and any small businesses who have used, or are considering using crowdfunding in their business, and would wish to be considered for inclusion in the research study should email: crowdfunding.financestudy@gmail.com

 

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