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The Coronavirus Impact on India Crowdfunding

Ketto - Best Crowdfunding India

If the overall impact of Coronavirus on business’s has to be assessed, then it can be said that the most affected sectors are the one’s that depended heavily on customer footfall, like- leisure, entertainment, and retail. Seed staged companies are negatively affected; while the tech driven sectors with remote working have positively affected businesses.

Want to know the impact by the type of different crowdfunding? If yes, read ahead!

Rewards & Donations

In addition to other projects of similar nature, rewards and donations projects are aimed to support the frontline workers. These type of crowdfunding platforms of similar nature are often inundated with appeals from many small businesses for funds required to keep them from coming to financial collapse. According to research, the highly impacted sectors include performance arts venues, art galleries, sports clubs, pubs, restaurants, and more.

A few projects are currently offering their supporters with great rewards, while others are providing rewards of no intrinsic monetary value. Most businesses are relying on the generosity of their loyal customer base.

Property Crowdfunding

The government didn’t expect that social distancing norms will leave the construction industry in tatters. Many property developers and construction site workers came under the financial security burden as the work ceased and payments stopped flowing. Though the work seems to slowly start again, the investors of this sector are expected to receive a very low return, when compared to the previous years.

A lot of crowdfunding projects have been started by some Samaritans that aim to help the construction workers come out of this difficult situation. In such uncertain times, it is only crowdfunding platforms and programs that remain to be the only monetary source for construction workers and others affected by the Covid-19 pandemic.

There are various other different crowdfunding types that have and is contributing significantly to change lives of the many people affected by Covid-19 lockdown. You can find out about each in-depth, in our future posts.

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Location: Mumbai, Maharashtra, India

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