海地的另類股權眾籌平台｜國立中央大學博碩士論文系統

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研究生：	費瑞斯 Roberto Louis Forestal
論文名稱：	海地的另類股權眾籌平台 Selfinans: Alternative Equity Crowdfunding Platform in Haiti
指導教授：	徐政義 Cheng-Yi Shiu
口試委員:
學位類別：	碩士 Master
系所名稱：	管理學院 - 財務金融學系 Department of Finance
論文出版年：	2019
畢業學年度：	107
語文別：	英文
論文頁數：	144
中文關鍵詞：	Selfinans LLC 、海地、股權融資、眾籌商業計劃
外文關鍵詞：	Selfinans LLC, Haiti, Crowdfunding business plan, equity financing.
相關次數：	點閱：14 下載：0
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發展中國家的企業家如何從發展業務所需的資金和專業知識中獲益？作為海地人，我對這個國家的發展會有什麼貢獻？更廣泛地說，我們如何利用技術的好處和我在台灣學到的東西，在擁有大商業創意的資本尋求者和擁有金錢和專業知識的資本提供者之間建立“橋樑”？
Selfinans LLC是一家以戰略為基礎的技術創新公司。在我們在台灣國立中央大學獲得金融碩士學位期間，我們與年輕人進行了在線討論，了解他們國家當地金融機構尋求融資和專業知識的困難。每個問題實際上都是一個機會！因此，我們有了創建移動應用程序的想法，該應用程序將成為發展中國家企業家和國際投資者之間的橋樑。例如，這個名為Selfinans LLC的平台將允許海地企業家尋找台灣投資者的融資，合作夥伴關係和專業知識。
我們一直在尋找目前尚未提供服務的數字經濟市場：貧窮國家的企業家與全球投資者之間可靠而可行的聯繫。我們意識到市場上有幾種數字融資平台，如股權眾籌，點對點借貸等，但它們都沒有為投資者提供成為公司資金的可能性。特別是，現有的在線平台不允許普通的海地企業家從外國投資者的經驗和專業知識中受益，以創造，發展或擴展他/她的業務。
我們還發現，在尋找融資的眾多移動應用程序中，很少有人參與股權融資。這些移動應用程序公司大多涉及貸款，即i-e債務融資。此外，現有的移動應用程序不允許貧窮國家（例如海地）的企業首先提出其業務計劃，財務報表等，然後為其業務尋找合適的財務合作夥伴。所以我們決定創建一個：Selfinans誕生了。

How can entrepreneurs in developing countries benefit from money and expertise they need to grow their business? As a native of Haiti, what would be my contribution to the development of this country? More broadly, how can we use the benefits of technology and what I learned in Taiwan to build “bridges” between capital seekers who have big business ideas and capital providers who have both money and expertise?
Selfinans LLC is a company whose strategy is based on technological innovation. During our master's degree in finance at National Central University in Taiwan, we had an online discussion with young people about the difficulties of finding financing and expertise from local financial institutions in their countries. Each problem is actually an opportunity! So we got the idea to create a mobile application that will serve as a bridge between entrepreneur from developing world and international investors. For example, this platform called Selfinans LLC will allow a Haitian entrepreneur to find financing, partnership and expertise from a Taiwanese investor.
We were looking for a market segment in the digital economy that was not currently serviced: a reliable and viable connection between entrepreneurs in poor countries and investors throughout the world. We realized that there are several digital financing platforms on the market such as equity crowdfunding, peer-to-peer lending, etc. but none of them offer the possibility for the investor to become a part of the company that he / she finances. In particular, existing online platforms do not allow an average Haitian entrepreneur to benefit from the experience and expertise of a foreign investor in order to create, grow or expand his / her business.
We also found that among the multitude of mobile applications to find financing, few of them are involved in equity financing. Most of these mobile apps companies involve in loans, i-e debt financing. Moreover, there are no existing mobile applications that would allow a business in a poor country (in Haiti for example) to first present its business plan, its financial statements, etc., and then find a right financial partner for its business. So we decided to create one: Selfinans was born.

Table of Contents
Contents
摘要    I
ABSTRACT    II
ACKNOWLEDGEMENTS    III
TABLE OF CONTENTS    IV
LIST OF FIGURES    VIII
LIST OF TABLES    IX
INTRODUCTION    1
CHAPTER 1- COMPANY OVERVIEW    4
1.    MISSION    4
2.    OBJECTIVES    4
3.    KEYS TO SUCCESS    5
4.    DESCRIPTION OF BUSINESS ACTIVITY    6
5.    COMMENCEMENT DATE AND COMMENCEMENT CAPITAL    6
6.    BUSINESS STRUCTURE    6
6.1.    LIMITED LIABILITY COMPANY    8
6.2.    LICENCES AND REGISTRATION    9
6.3.    LOCATION AND FACILITIES    9
6.4.    CONTACT INFORMATION    10
7.    ORGANIZATIONAL STRUCTURE    10
7.1.    COMPANY OWNERSHIP    11
7.2.    MANAGEMENT STRUCTURE    11
8.    BUSINESS ADVISORS    13
CHAPTER 2- BUSINESS ENVIRONMENT    15
1.    CROWDFUNDING CONCEPTUAL AND THEORETICAL BACKGROUND    15
1.1.    CROWDFUNDING BASICS    15
1.2.    CROWDFUNDING SYSTEM    16
1.2.1.    PLATFORM PROVIDERS    16
1.2.2.    BUSINESS CREATORS    16
1.2.3.    BUSINESS CONTRIBUTORS    17
1.2.4.    TRADITIONAL CAPITAL MARKETS    17
1.2.5.    LEGAL AND ETHICAL CONSIDERATIONS    17
1.3.    LITERATURE REVIEW ON CROWDFUNDING    19
2.    CROWDFUNDING TYPOLOGIES    20
2.1.    EQUITY-BASED CROWDFUNDING    20
2.1.1.    PRIVATE EQUITY FINANCING    20
2.1.2.    REVENUE-BASED OR ROYALTY FINANCING    21
2.1.3.    MEZZANINE FINANCING    21
2.2.    DEBT-BASED CROWDFUNDING    22
2.2.1.    MICROFINANCING CROWDFUNDING    22
2.2.2.    PEER-TO-PEER CROWDFUNDING    22
2.3.    APPRECIATION-BASED CROWDFUNDING    23
2.3.1.    REWARD-BASED CROWDFUNDING    23
2.3.2.    DONATION-BASED CROWDFUNDING    23
2.4.    DISCUSSION    23
3.    CROWDFUNDING INDUSTRY ANALYSIS    25
3.1.    INDUSTRY CLASSIFICATION    25
3.2.    DEMAND ANALYSIS    26
3.2.1.    ENTERPRISES IN HAITI AND OTHER DEVELOPING COUNTRIES    26
3.2.2.    TAIWANESE AND INTERNATIONAL INVESTORS    28
3.3.    EXTERNAL FACTORS    29
3.3.1.    TECHNOLOGY    29
3.3.2.    GOVERNMENT    30
3.3.3.    ECONOMIC AND SOCIAL    30
3.3.4.    CULTURAL AND DEMOGRAPHIC    31
CHAPTER 3- MARKETING ANALYSIS    32
1.    MARKET SEGMENTATION    32
1.1.    MARKET RESEARCH    34
1.2.    SIZING UP THE MARKET    37
1.3.    TARGET MARKET    37
2.    BUSINESS COMPETITIVE EDGE    41
3.    SWOT ANALYSIS    43
4.    MARKETING STRATEGY    44
CHAPTER 4- PRODUCT AND SERVICE    48
1.    OUR COMPANY’S MOBILE APP    48
1.1.    PRODUCT INTRODUCTION    48
1.2.    DEVELOPMENT REQUIREMENTS    49
2.    SERVICE DESCRIPTION    50
2.1.    OVERVIEW    50
2.2.    SYSTEM OPERATION    51
2.3.    CROWDFUNDING CAMPAIGN SYSTEM    52
2.4.    REWARD SYSTEM    53
CHAPTER 5- BUSINESS MODEL    55
1.    VALUE PROPOSITION    55
2.    SALES STRATEGY    56
2.1.    COMMISSIONS ON FUNDS RAISED    56
2.2.    ADDITIONAL SERVICES    56
3.    PRICE SETTING    57
4.    COST STRUCTURE    57
4.1.1    ADVERTISING/MARKETING    60
4.1.2    TRAVEL    63
4.1.3    UTILITIES    63
4.1.4    DUES AND SUBSCRIPTIONS    63
4.1.5    INSURANCE    63
4.2    VARIABLE COSTS    63
4.3    NETWORK ECONOMIES OF SCALE    64
4.4    ECONOMIES OF SCOPE    64
5.    SALES FORECAST    64
CHAPTER 6- FINANCIAL PLAN    67
1.    UNDERLYING ASSUMPTIONS    67
2.    START-UP BUDGET    67
2.1.    START-UP COSTS    67
2.2.    START-UP FUNDING    69
3.    PROJECTED PROFIT AND LOSS    72
3.1    REVENUES    72
3.2    COST OF SALES OR COST OF ACQUISITION (CA)    72
3.3    OPERATING EXPENSES    74
3.3.1    SALES AND MARKETING (S&M)    74
3.3.2    GENERAL AND ADMINISTRATIVE (G&A)    74
3.3.3    RESEARCH AND DEVELOPMENT (R&D)    75
3.4    DEPRECIATION    76
3.5    FINANCE COSTS AND TAXES    78
4.    PROJECTED CASH FLOW    81
5.    PROJECTED BALANCE SHEET    83
6.    FINANCIAL RATIOS    85
6.1.    PROFITABILITY RATIOS    85
6.1.1.    MARGIN RATIOS    85
6.1.2.    RETURN RATIOS    87
6.2.    LEVERAGE RATIOS    89
7.    BREAK-EVEN ANALYSIS    91
CHAPTER 7- RISK ASSESSMENT    94
1.    FINANCIAL RISKS    94
1.1.    MARKET RISK    94
1.2.    LIQUIDITY RISK    94
1.3.    OPERATIONAL RISK    95
2.    MANAGEMENT RISKS    95
3.    INFORMATION TECHNOLOGY (IT)  RISK    95
3.1.    GENERAL IT RISKS    95
3.2.    CRIMINAL IT RISKS    96
4.    CONTINGENCY PLANS    96
CONCLUSION    97
BIBLIOGRAPHY    100
APPENDIX SECTIONS    108
APPENDIX A - SURVEY QUESTIONNAIRE    109
APPENDIX B    128
APPENDIX B -    PERSONNEL PLAN    129
APPENDIX B -    SALES FORECAST    131
APPENDIX C    132
APPENDIX C -    DEPRECIATION TABLE    133
APPENDIX C -    LOAN AMORTIZATION OR FINANCE COSTS SUMMARY    134


                                

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