GoFundMe Campaign Growth for Small Businesses

The number of GoFundMe campaigns tied to small businesses provides another measure of just how much these companies are struggling during the coronavirus crisis. An article in the NYT states that coronavirus-related campaign growth grew 60% from 22,000 to 35,000 from March 20th to March 24th, and that as of the latter date 14,000 of these campaigns were tied to small businesses.

Crisis aside, campaigns average a 27% success rate (measured by goal achieved). Unfortunately the article concluded that surging demand and the fact that many potential donors were likely facing their own economic crisis would result in a lower success rate for these companies.

Source: Nathaniel Popper and Taylor Lorenz | "GoFundMe Confronts Coronavirus Demand" | The New York Times | 03/26/2020 | Visit