Crowdfunding – a youth perception approach in Albania

Abstract

Digital transformation of the finance and banking sector has brought endless opportunities for the financial sector in overall. Inside this labyrinth of financing methods, crowdfunding seems to be an ingenious and avant-garde method. In Albania, this concept is quite new and intriguing. This paper aims to analyse the perception of youth about crowdfunding in Albania through a linear regression model. Primary data consists of 370 questionnaires is used to estimate the amount of money willing to donate through crowdfunding platforms, by using a multiple regression model. The two primary factors that are positively connected with the amount of money willing to donate were the desire to donate for the revitalization of damaged areas and the readiness to donate for fresh business ideas. The willingness donation interval varies from 11 - 50€. Gender disparity and employment status do not have a relevant impact and are statistically insignificant in the amount of money willing to donate by youth. Crowdfunding in Albania can help to create sustainable and innovative manners of filling in some gaps for families in need, improve damaged zones from natural disasters, launch new projects with an important impact in remote communities, etc. Crowdfunding in Albania with a donation basis is a form that helps many low-income families. In addition, it is an innovative form of reconstruction and revitalization of damaged zones from natural disasters, encouraging many creative projects, etc.