Analysis of Successful Crowdfunding Campaign

Abstract

The article examines the concept of crowdfunding. Crowdfunding is a relatively novel way for entrepreneurial ventures to gaining new customers, secure funds and other sources without having to seek out traditional source of venture investment. Even the short time crowdfunding is known there are several exploratory studies about a new phenomena in entrepreneurship. Developments of recent years show that usage of crowdfunding is growing globally as it has the potential to open funding opportunities to countless underfunded entrepreneurs and small business. The creators of the campaign use it to create various projects; however, with more or less success. Thanks to the large number of crowdfunding campaigns, it is possible to deduce the main reasons and factors that are the causes of success or failure of a campaign. Recommendations for future creators of campaigns are the main contribution of this paper.