Determinants of SMEs intention to adopt Islamic crowdfunding model in Northwestern Nigeria

The study aims is to examine the determinant factors of small and medium enterprises’ (SMEs’) intention to adopt the Islamic crowdfunding model as alternative sources of finance.

Using a survey questionnaire, 385 responses were received from owners and managers of SMEs in three states (Kano, Kaduna and Katsina) of northwestern Nigeria and analyses using PLS-SEM 3.0 software.

All hypotheses were found to be significant.

The research focused only on northwestern Nigeria; there is a need for further research to focus on other geographical zones in Nigeria.

Crowd funders and policymakers can use these findings to enable the adoption of the Islamic crowdfunding model.

The previous study has not examined the role of technology acceptance model in the adoption of the financial model; these findings contribute to the crowdfunding literature by filling this gap.