According to a report in the Irish Examiner, the local market has yet to fully embrace crowdfunding, which it puts down to a lack of regulation in Ireland compared to the “progressive approach” of UK regulators. It adds, however, that the prevalence of crowdfunding will continue to increase following the recent introduction of specific legislation in a number of countries that will help remove barriers for SMEs. The Examiner reports that while crowdfunding is legal in Ireland, there are no regulations governing how companies can raise money for their projects. A recent report from the Oireachtas (Irish Legislature) Jobs, Enterprise, and Innovation Committee recommends the government legislate crowdfunding to “set the conditions for SMEs in the creative economy to thrive."
According to a report in the Irish Examiner, the local market has yet to fully embrace crowdfunding, which it puts down to a lack of regulation in Ireland compared to the “progressive approach” of UK regulators. The Examiner reports that while crowdfunding is legal in Ireland, there are no regulations governing how companies can raise money for their projects. A recent report from the Oireachtas (Irish Legislature) Jobs, Enterprise, and Innovation Committee recommends the government legislate crowdfunding to “set the conditions for SMEs in the creative economy to thrive."