CROWDFUNDING CAMPAIGNS IN SMALL-SCALE ECONOMY AND DETERMINANTS OF THEIR SUCCESS

Abstract

The article analyzes selected success factors of crowdfunding campaigns in Slovakia and the Czech Republic. As these countries are small in size with limited absorption capacity of crowdfunding markets, we assume that regional projects might be different as to the type, budget and area of implementation than those on international portals. The basic hypotheses are proposed, coming out from existing theories and previous results of research, tested by parametric tests. The methodology combines utilization of several methods - term frequency, trend analysis, quantitative and causal analysis. The results indicate that many projects are not providing important information about their idea (also in form of video spot, connection with social networks and own website), however, still quite large part of them is successful. The analysis also testifies that the most successful crowdfunding campaigns are those oriented on the blogs, travel, community, education and science.

Keywords

• Crowdfunding
• campaigns
• Budget
• Success factors
• Financing