Interesting article on crowdfunding in the Financial Times (you will have to register but will be able to access 8 articles a month). It looks for a change in EU regulations, similar to what the US is adopting, to enable investors to participate in crowdfunding and have some statutory protection. The European Union estimate that SMEs now account for more than two-thirds of employment within the EU and their funding needs are concerning politicians as growth is more likely to come from the SME sector.
Stock Exchanges are considered to be useful institutions to regulate crowdfunding, but I wonder if SMEs are likely to be the smallest size of enterprise that they will be interested in? Crowdfunding should be for every business as a realistic alternative to bank funding. And by this I mean micro-enterprises with less that 10 employees, down to micro-enterprises with just one employee, i.e. the sole trader. And for good measure, add social enterprises, not-for-profits and charities.
Crowdfunding should be for everyone; it is too good an idea to be monopolized by larger businesses.