The latest figures reveal that successful small business finance applications plunged in 2022, resulting in more entrepreneurs looking to crowdfunding schemes to get the capital they need to go it alone.
While the average UK boardroom of established businesses is dominated by men, Money.co.uk business loans experts have instigated Kickstarter statistics to discover if there’s the same gender gap in successful crowdfunding.
Key stories:
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Female-led Kickstarters are 16% more likely to succeed in hitting their funding target than male-led Kickstarters
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63% of female-led ventures are successful compared to 58% of male-led ventures
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Females ask for 297% less funding than their male counterparts
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The average successful male campaign gets £11,686 funding compared to the average female campaign which gets £4,825.
The crowdfunding gender gap:
Money.co.uk Business Loans research into UK Kickstarter campaigns for the past five years has revealed that women are more successful at hitting their crowdfunding targets, and raising the capital they need to start a business in comparison to their male counterparts.
Women are also 16% more likely to succeed than male-led Kickstarters.
However, when you look at funding figures, unfortunately male-led campaigns are getting more funding than female-led overall. The average successful male-led campaign gets £11,686 funding compared to the average female-led campaign which gets £4,825.
Business experts at money.co.uk can reveal that while female funding added up to £11,888,505 in the UK over the past five years, male funding added up to more than four times as much, a staggering £47,165,766 despite women startups asking for 297% percent less funding than their male counterparts.
Lucinda O’Brien, money.co.uk business loans expert, said: “Women leading Kickstarter campaigns are having great success, which shows that people are believing in their businesses and getting behind them. However, this level of support should be reflected in all areas of business; from more funding to having a seat in the boardroom. These stats show there is still work to be done to close the gender gap and we need to ensure women have the capital they need to make their business a success.”
Worldwide case study:
In June 2012, musician and artist Amanda Palmer went on Kickstarter, a website that helps people raise money for creative projects. Amanda asked for $100,000 to fund an album and a tour. Instead, she raised $1.2 million with pledges from 24,883 people.
Amanda’s is the only woman-led campaign in the top 10 most funded projects.
Category break down:
The table below shows the category breakdown for all successful Kickstarter campaigns over the past five years:
|
Category |
% of successful kickstarters |
Category |
% of successful female-run kickstarters |
Category |
% of successful male-run kickstarters |
|
Tabletop Games |
15.99% |
Illustration |
12.01% |
Tabletop Games |
16.92% |
|
Product Design |
6.91% |
Art |
7.91% |
Comic Books |
6.91% |
|
Illustration |
5.75% |
Accessories |
7.83% |
Product Design |
5.67% |
|
Art |
4.35% |
Shorts |
5.28% |
Graphic Novels |
3.84% |
|
Accessories |
4.21% |
Children’s Books |
4.50% |
Shorts |
3.52% |
|
Comic Books |
4.18% |
Product Design |
3.86% |
Comics |
2.75% |
|
Shorts |
3.16% |
Tabletop Games |
2.84% |
Music |
2.53% |
|
Music |
2.40% |
Crafts |
2.27% |
Illustration |
2.50% |
|
Graphic Novels |
2.30% |
Drama |
2.15% |
Comedy |
2.50% |
|
Children’s Books |
2.14% |
Music |
2.07% |
Drama |
2.43% |
Tabletop games is the most successful category overall, followed by product design.
For female run kickstarters, Illustration, Art and Accessories are the top 3 most successful campaigns, whereas for males it’s Tabletop Games, Comic books, and Product design.
