Crowdfunding has been recently suggested as an effective means for tourism business founders to gain financial support. Yet, few business founders in tourism have employed the method to fund their business creation and development. Using the behavioral decision model in complex and uncertain business situations, this qualitative study explored the deterrents to crowdfunding adoption and the factors that shape the perception of the deterrents in tourism business founders. The data collected by in-depth and face-to-face semi-structured interviews with 22 informants. Our findings revealed a combination of perceived personal, social and contextual deterrents that avert crowdfunding adoption decision and actual behavior. More specifically, our analysis explored attitude towards crowdfunding, perceived control over using crowdfunding, social norms and perceived contextual feasibility of crowdfunding as the determinants of crowdfunding aversion decision and aversion behavior. This study contributes deeper insights into tourism business financial management and crowdfunding policy, theory, practice and research development.