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A Synthesis of Crowdfunding Concepts in the Ghanaian Context: Crowdfunding Information Challenges in Ghana

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Abstract

Insufficient access to capital is a major challenge that threatens the formation of university spin-off companies in most sub-Saharan African countries. This stems from the fact that there is restricted access to start-up capitals for businesses in these countries. The study, thus, aims at suggesting crowdfunding as an alternate source of funding for university spinoff formation particularly in Ghana. Using Asymmetric Information and Social Networking theories, this paper highlights the relevance of these two theories to crowdfunding particularly in Ghana. A qualitative research method was used to conduct the study, and a semi-structured interview was used during the data gathering process. The findings suggest that though crowdfunding is a fairly new concept in Ghana, it is similar to Susu, which is a Ghanaian traditional microfinancing concept and therefore has a high acceptability rate. Similarly, the findings suggest that information asymmetric plague the smooth operations of the crowdfunding concept in Ghana.

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Authors and Affiliations

  1. Universiti Teknologi Malaysia, Skudai, Johor, Malaysia

    Francis Kwaku Kuma & Mohd Effandi Bin Yusoff

  2. Department of Accountancy, Koforidua Technical University, Koforidua, Ghana

    Francis Kwaku Kuma & Paul Kwasi Apreku-Djan

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Kuma, F.K., Yusoff, M.E.B. & Apreku-Djan, P.K. A Synthesis of Crowdfunding Concepts in the Ghanaian Context: Crowdfunding Information Challenges in Ghana. J Knowl Econ (2022). https://doi.org/10.1007/s13132-022-01062-2

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