Publication: Girişimcilik için yeni nesil finansman aracı : kitle fonlaması
Abstract
Farklı bir fikri olan ve bu fikrini gerçekleştirmek için risk alan insan olarak tanımlanan girişimciler, özellikle başlangıç aşamasında birçok problemle karşılaşabilmektedir. Girişimcilerin projelerini gerçekleştirmede yaşamış oldukları en önemli sorunun finansmana uygun koşullarda erişim olduğu söylenebilir. Her ne kadar geleneksel finansman kaynaklarından kredi ve borçlanma ile modern finansman kaynaklarından girişim sermayesi ve melek yatırımcı girişimciler için alternatif finansman kaynakları olsa da, bu kaynaklara farklı gerekçelerle erişim konusunda yaşanan sıkıntılar yeni bir finansman modelinin ortaya çıkmasını sağlamıştır: Kitle Fonlaması. 1990'lı yıllarda müzik, sinema ve kitap gibi kültürel faaliyetlerle ilgili projeler için bu finansman modeli kullanılsa da, özellikle 2008 Küresel Mali Krizi'nden sonra, Dünya'da hem kitle fonlamasının kullanım sıklığı hem de kitle fonlamaya olan farkındalık artmıştır. Kitle fonlaması modeli Türkiye’de de uygulanmakta olup, Sermaye Piyasası Kanunu’nda 2017 yılından itibaren yapılan düzenlemelerden sonra, farklı tarihlerde açıklanan Strateji Belgeleri ve Eylem Planları kitle fonlamasını devletçe desteklenen bir finansman aracı haline getirmiştir. Bu çalışmada öncelikle girişimcilik, girişimciliğin dünyada ve ülkemizde gelişimi, girişimcilik-inovasyon ilişkisi ile girişimciler için finansman kaynakları üzerinde durulmuştur. Girişimciler için yeni bir finansman modeli olan kitle fonlamasının işleyişi, farklı modelleri anlatıldıktan sonra dünyanın çeşitli ülkelerindeki kitle fonlaması mevzuat düzenlemeleri ele alınmıştır. Son olarak Türkiye’de kitle fonlaması mevzuatı, aynı zamanda bir yatırım aracı olması nedeniyle, kitle fonlamasının vergisel durumu ile kitle fonlamasının Türkiye’deki gelişimi açısından mevzuattan kaynaklanan eksiklikler ve bu konudaki öneriler hakkında bilgi verilmiştir
Entrepreneurs, who are defined as people who have a different idea and take risks to realize that, may encounter many problems especially at the beginning stage. It can be said that getting access to finance at favorable conditions is the most important problem they face on the way to realizing their projects. Although credit and borrowing, which are traditional financing tools, and venture capital and angel investor, which are modern financing sources, are alternative financing sources for entrepreneurs, the difficulties in accessing these sources for different reasons have led to the emergence of a new financing model: Crowdfunding. Although this financing model was used for the projects related to cultural activities such as music, cinema and books in the 1990s, especially after the 2008 Global Financial Crisis, both the frequency of using crowdfunding and crowdfunding awareness in the World increased. The crowdfunding model is also applied in Turkey, and after the regulations made in the Capital Markets Law since 2017, the Strategy Papers and Action Plans announced on different dates have made crowdfunding a financing tool supported by the state. In this study, first of all, entrepreneurship, the development of entrepreneurship in the world and in our country, entrepreneurship-innovation relationship and financing resources for entrepreneurs are emphasized. After explaining the functioning of crowdfunding, which is a new financing model for entrepreneurs, and its different models, crowdfunding legislation regulations in various countries of the world are discussed. Finally, information has been given about the crowdfunding legislation in Turkey, the tax status of crowdfunding since it is also an investment tool, and the deficiencies arising from the legislation in terms of the development of crowdfunding in Turkey and the suggestions on this subject
Entrepreneurs, who are defined as people who have a different idea and take risks to realize that, may encounter many problems especially at the beginning stage. It can be said that getting access to finance at favorable conditions is the most important problem they face on the way to realizing their projects. Although credit and borrowing, which are traditional financing tools, and venture capital and angel investor, which are modern financing sources, are alternative financing sources for entrepreneurs, the difficulties in accessing these sources for different reasons have led to the emergence of a new financing model: Crowdfunding. Although this financing model was used for the projects related to cultural activities such as music, cinema and books in the 1990s, especially after the 2008 Global Financial Crisis, both the frequency of using crowdfunding and crowdfunding awareness in the World increased. The crowdfunding model is also applied in Turkey, and after the regulations made in the Capital Markets Law since 2017, the Strategy Papers and Action Plans announced on different dates have made crowdfunding a financing tool supported by the state. In this study, first of all, entrepreneurship, the development of entrepreneurship in the world and in our country, entrepreneurship-innovation relationship and financing resources for entrepreneurs are emphasized. After explaining the functioning of crowdfunding, which is a new financing model for entrepreneurs, and its different models, crowdfunding legislation regulations in various countries of the world are discussed. Finally, information has been given about the crowdfunding legislation in Turkey, the tax status of crowdfunding since it is also an investment tool, and the deficiencies arising from the legislation in terms of the development of crowdfunding in Turkey and the suggestions on this subject