Key regions: China, United Kingdom, Brazil, Israel, India
The CrowdLending (Business) market in North Macedonia has been experiencing significant growth in recent years.
Customer preferences: In North Macedonia, businesses are increasingly turning to crowd lending as a source of financing. This is primarily due to the ease and convenience of the process, as well as the potential for lower interest rates compared to traditional bank loans. Additionally, crowd lending platforms often offer flexible repayment terms and quick approval times, making them an attractive option for businesses in need of capital.
Trends in the market: One of the key trends in the CrowdLending (Business) market in North Macedonia is the rise of peer-to-peer lending platforms. These platforms connect businesses directly with individual lenders, cutting out the middleman and reducing costs. This trend is driven by the increasing popularity of online lending platforms and the growing trust in the crowd lending model. Another trend in the market is the diversification of crowd lending platforms. While initially, there were only a few platforms operating in North Macedonia, the market has seen the entry of new players offering specialized services. This includes platforms that focus on specific sectors or industries, as well as platforms that cater to different types of businesses based on their size or funding needs.
Local special circumstances: North Macedonia has a relatively small banking sector, which has traditionally made it difficult for businesses to access financing. This has created a gap in the market, which crowd lending platforms have been able to fill. The emergence of these platforms has provided an alternative source of funding for businesses, particularly those that may not meet the strict criteria of traditional banks.
Underlying macroeconomic factors: The growth of the CrowdLending (Business) market in North Macedonia can be attributed to several underlying macroeconomic factors. One of the key factors is the country's stable economic growth, which has created a favorable environment for businesses to seek financing. Additionally, the government has implemented policies to support entrepreneurship and small and medium-sized enterprises, which has further fueled the demand for crowd lending. Furthermore, the low interest rate environment globally has also contributed to the growth of the crowd lending market in North Macedonia. With interest rates at historic lows, businesses are seeking alternative sources of financing that offer more competitive rates. Crowd lending platforms, with their lower overhead costs, are able to offer attractive interest rates to borrowers, making them an appealing option. In conclusion, the CrowdLending (Business) market in North Macedonia is experiencing significant growth due to customer preferences for convenient and flexible financing options, the rise of peer-to-peer lending platforms, the diversification of crowd lending platforms, the country's small banking sector, stable economic growth, government support for entrepreneurship, and the low interest rate environment. These factors have created a fertile ground for the development and expansion of crowd lending as a financing option for businesses in North Macedonia.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
