CROWDFUNDING AS A SOURCE OF EMPLOYMENT GENERATION AND GROWTH

Abstract

Crowdfunding is a method of increases the capital through the collective effort from pool of individual parties and the primary through online sources such as social media. Crowdfunding serves as an alternative funding source for multiple uses especially for smaller and micro business such as entrepreneurial activities, health, education, and so on. This study aims to identify the crowdfunding in Saudi Arabia and determine the impact of crowdfunding generally in employment generation. The methodology used in this study is qualitative research approach. The primary data were collected through face-to-face interview with nine participants with major background of entrepreneurship eco system in Saudi Arabia. Finally, the results from Interviews that were undertaken in Saudi Arabia have showed that crowdfunding can really help in employment generation and growth and its advantages outweigh. Besides that, the benefit from crowdfunding will contribute to all society as well as the growth of economy if Saudi Arabia. The implementation of crowdfunding is challenging to the Islamic country and legal policy should be applied.