Factores de éxito en el financiamiento para Pymes a través del Crowdfunding en México

Abstract

Success factors in financing for SMEs through crowdfunding in Mexico

This research aims to identify the variables that impact the financing success of SMEs that participate in Crowdfunding, for which, a covariance analysis (Ancova) was applied to a sample of companies that obtained financing through the collective funding platform Pitchbull. The results show that risk has a significant impact on funding success, also turning out to be relevant covariates: the interest rate paid, the amount financed, and the number of funders, not being the case for the term of the loan as it is an insignificant covariate.  From the analysis of the funding success and its relationship with risk, the rate of return stands out as the main incentive in funding companies. Although the main limitation of this work is the analysis of a single platform, these findings represent a starting point for future work related to the analysis of the implications of technological finance in SMEs, however, it remains to deepen the research from the impact ethical, social, and environmental in funding decisions.