Women Fan the Flames of the Crowdfunding Revolution

The revolution in online crowdfunding is mostly powered by women, according to new research released today. An analysis of thousands of funding promises shows that two thirds (64 per cent) of the total offers of cash on the BloomVC crowdfunding platform, come from women, making them twice as likely to donate as men.

On BloomVC.com, which allows people to promise money to new businesses or creative projects, women are highly likely to support other women. As much as 78 per cent of promises from women go toward supporting female entrepreneurs.

The strength of this female community is evident, even though the gender divide of project owners on the platform is relatively even – 48 per cent are women, and 52 per cent men.

Perhaps as a result of a strong female support network,burgeoning businesswomen are more likely to successfully raise their desired amount of money on the platform. The 48 percent of entrepreneurs who are women are responsible for 57 per cent of all fully funded ideas.

Amanda Boyle, founder of BloomVC.com, comments, “Crowdfunding is changing the way people exchange and raise money around the world. One of the most important changes we have seen is the sheer scale of support from women. The crowdfunding revolution is challenging thelingering preconceptions that business remains a male-orientated world and demonstrating that women are a powerful source of funding. They want to support each other and women –led business are important factor in the future of our economy.”

Despite the quantity of women promising money through crowdfunding, the majority of money still comes from men. The average amount promised by women is £37, whilst the average amount promised by men is £118.70.

Amanda Boyle comments, “The data from BloomVC.com shows that women spend more time supporting new ideas, but it seems to be men who have the disposable income. If women continue to find new ways of setting up their own businesses then this will change. If every woman in the UK gave £37 to a business, then £1bn would instantly be mobilised for female entrepreneurs, showing the true potential of the female revolution that is spreading across the country.”

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