Title: Advancing crowd-funding in Indonesia: is there trust yet?

Authors: Sasongko Budisusetyo; Joicenda Nahumury; Dian Oktarina

Addresses: University of Hayam Wuruk Perbanas, Jl. Wonorejo Utara 16, Surabaya, 60298, Indonesia ' University of Hayam Wuruk Perbanas, Jl. Wonorejo Utara 16, Surabaya, 60298, Indonesia ' University of Hayam Wuruk Perbanas, Jl. Wonorejo Utara 16, Surabaya, 60298, Indonesia

Abstract: Crowd-funding in Indonesia is still paid attention to by the people due to several factors, such as problems dealing with online loans and a lack of literacy concerning online businesses. This study tries to explore crowd-funding in Indonesia based on different perspectives, such as from consumers, regulator and creative idea providers. The data were gathered by interviews and content analysis of the crowd-funding websites. The data were also triangulated from different sources. It was found that consumers have yet to trust crowd-funding, due to both a lack of trust and literacy of online businesses. Besides that, the regulators are still unable to stop the various online loan providers that are not identified. It can be recommended that people require online business literacy. By doing so, it can increase the public trust on crowd-funding so that these businesses can be developed and advanced.

Keywords: crowd-funding; online business; creative industry; Indonesia.

DOI: 10.1504/IJBFMI.2023.134473

International Journal of Business Forecasting and Marketing Intelligence, 2023 Vol.8 No.4, pp.295 - 307

Received: 31 Aug 2022
Accepted: 02 Sep 2022
Published online: 24 Oct 2023 *

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