Crowdfunding workgroup in Slovakia
Crowdfunding workgroup in Slovakia
As in many other countries, alternative financing lingers in a regulatory grey space in Slovakia. This space is being explored by a working group, consisting of the key local stakeholders – representatives of the Ministry of Finance, representatives of all crowdfuning platforms in Slovakia, and EU project partners focusing on crowdfunding and alternative financing. This meeting was initiated by Slovak partner of the Crowd Fund Port (an Interreg project) and hosted in the premises of Crowdberry, crowdinvestment platform on 16 November 2018.
Altfinator was represented by PEDAL Consulting. The meeting consisted of around 20 people. Two key topics were discussed:
  1. What kind of regulation should be put in place for Alternative financing? One option is proportional regulation – less regulation for small companies, growing regulation with the growing size of the company. Second option was a ‘hard regulation’ and the third option was to keep the existing general setting. Proportional regulation was favorited.
  2. New regulation, even proportional, will require additional reporting, which was second important topic of the meeting. Many business representatives were concerned, that new regulation will lead to large reporting burden, which will be difficult to handle by the (usually very small) alternative financing providers.
Other topics included potential use of crowdfunding by public institutions and especially municipalities.
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ALTFInator has received funding from the European Union’s Horizon 2020
Research and Innovation programme under Grant Agreement No 792040

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