The Crowdfunding: Crucial tool for the democratization of access to finance and and promoting financial inclusion in Morocco

Abstract

In a context of globalization, the development of new information and communication technologies, the emergence of the collaborative economy and crowdsourcing, but also the difficulty of access to financing for entrepreneurs, the crowdfunding literally called crowd financing, stands out as an alternative financial innovation allowing not only a diversification of financing resources but also representing a tool for injecting confidence for project leaders, particularly in times of crisis when banks are particularly cautious in the provision of financing,  especially, in the absence of guarantees.

This real lever of responsible financing lever puts in direct and transparent relationship project leaders looking for financing and contributors concerned about the responsible use of their savings through a variety of forms which varies according to the importance of the applicant's funding requirement and the type of project to be financed, which makes it possible to a new dynamic of innovation in the field of entrepreneurship, a flowering of high-impact innovative startups and a strengthening of social ties, a feeling of proximity and civic engagement

Even if this method of financing is developed and in full expansion in other countries, it is still embryonic in Morocco, however our country’s willingness to achieve progress in terms of economic and social development has push Morocco to create favorable conditions for development of crowdfunding by adopting a regulatory framework to offer it the opportunity to be a pioneer and a leader of this new industry on an African scale.

This article aims to understand the role of crowdfunding as an innovative financing lever adapted to different categories of the economic fabric, its impact on the promotion of financial inclusion and the democratization of access to financing.

Keywords: Crowdfunding, responsible finance, financial inclusion, contributors, entrepreneur Classification JEL: G21 G3 L26

Paper type: Theoretical Research