Crowdfunding in the EU - Exploring the Added Value of Potential EU Action

On 3 October, the European Commission launched a public consultation addressing stakeholders who want to share their views about crowdfunding: its benefits, risks, and the design of an optimal policy framework to foster 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 both support those who develop crowdfunding platforms and reduce the risks to those who make use of such platforms to finance projects. That is what I am asking."
The consultation, which will run until 31 December 2013, covers all forms of crowdfunding, ranging from donations and rewards to financial investments and citizens, paying particular attention to the potential benefits for social entrepreneurs and third sector organisations. The Commission is keen to understand whether lending/investment based crowdfunding with social objectives should be treated differently to crowdfunding for profit, and it is looking for experiences and case-stories in this field.
Crowdfunding platforms, national authorities, academics, associations and all other interested parties are encouraged to answer.
You will find more information on the consultation here. A copy of the questionnaire is available here.