Financial education and financial literacy in Gen Y - Alternative forms of financing

Abstract

This study was designed to assess knowledge and awareness of students of Polish economic universities in terms of forms of enterprise financing. Particular attention was focused on innovative forms of capital raising as crowdfunding due to its dynamic development in the world, but also crowdfunding seems to correspond to the needs of Generation Y as future entrepreneurs. The research hypothesis is that Polish Generation Y has only a theoretical knowledge of the sources of funding enterprises. Polish students, although they are proficient in new technologies, they do not know innovative capital raising on the Internet because they do not receive this knowledge at the university. The quantitative research was conducted and designed to test knowledge of the forms of financing and knowledge of the development of innovative funding methods. The qualitative research was used to indicate the needs of Millennials as to the possibility of obtaining financial knowledge as well as the skills to use it. The main findings demonstrated a gap in education for innovative methods of funding but also indicated recommendations for potential changes in the education of Generation Y