Belgians not keen on crowdfunding

Crowdfunding, the practice of financing a new business venture with small contributions from a large number of people, is not popular in Belgium. Last year, businesses and entrepreneurs raised just €1.1 million via crowdfunding, according to figures from the consultancy Douw & Koren, reports De Standaard.

That number is 20 times less than in the Netherlands, and 100 times less than in the UK. In Belgium, where the practice of giving donations online is still met with scepticism, less than 10% of new venture capital in 2013 was raised by crowdfunding.