Crowdfunding has been gaining popularity in Serbia in recent years, with an increasing number of individuals and businesses turning to this alternative financing method.
Customer preferences: One of the key reasons behind the growth of crowdfunding in Serbia is the increasing demand for access to capital for various projects. Entrepreneurs, artists, and social initiatives are finding it difficult to secure traditional financing from banks or investors, leading them to explore crowdfunding as a viable option. Additionally, individuals who want to support innovative ideas or contribute to a cause they believe in are also turning to crowdfunding platforms.
Trends in the market: One notable trend in the crowdfunding market in Serbia is the rise of reward-based crowdfunding. This type of crowdfunding allows individuals to contribute to a project or business in exchange for a reward or product. This trend can be attributed to the fact that many Serbian entrepreneurs and artists are using crowdfunding to launch their products or creative projects. By offering rewards such as early access to products or exclusive merchandise, they are able to attract a larger number of backers. Another trend in the Serbian crowdfunding market is the emergence of equity-based crowdfunding. This type of crowdfunding allows individuals to invest in businesses in exchange for equity or shares. This trend is driven by the increasing number of startups and small businesses in Serbia that are seeking alternative financing options. Equity-based crowdfunding provides these businesses with access to capital while also allowing individuals to become shareholders in promising ventures.
Local special circumstances: Serbia's crowdfunding market is also influenced by local special circumstances. One such circumstance is the relatively low level of traditional financing options available to small businesses and entrepreneurs. Banks in Serbia are often hesitant to lend to startups or businesses without a proven track record, making crowdfunding an attractive alternative. Furthermore, Serbia has a growing community of tech-savvy individuals who are familiar with online platforms and digital transactions. This has contributed to the success of crowdfunding platforms in the country, as people are comfortable using these platforms to contribute to projects and campaigns.
Underlying macroeconomic factors: The development of the crowdfunding market in Serbia can also be attributed to underlying macroeconomic factors. The country has been experiencing economic growth in recent years, which has led to increased entrepreneurial activity. As more individuals and businesses seek financing for their projects, crowdfunding has emerged as a viable solution. Additionally, Serbia has a relatively high level of internet penetration, with a large portion of the population having access to the internet. This has created a conducive environment for the growth of online crowdfunding platforms, as individuals can easily access and contribute to campaigns. In conclusion, the crowdfunding market in Serbia is developing due to customer preferences for alternative financing options, including reward-based and equity-based crowdfunding. The local special circumstances, such as limited access to traditional financing and a tech-savvy population, have also contributed to the growth of crowdfunding platforms. Furthermore, underlying macroeconomic factors, such as economic growth and high internet penetration, have created a favorable environment for the development of the crowdfunding market in Serbia.
Data coverage:
The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
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