Geography and social network influence on crowdfunding a French microbrewery

Abstract

The objective of this article is to explore the influence of home bias and the moderating role of social networks (and more particularly family and friends—F&F) in the crowdfunding of a microbrewery in a French region (a lucrative business that uses a territorial solidarity process). We have chosen the case study as methodology to show that neither home bias nor F&F have a significant influence on amounts paid by individuals in crowdfunding. The results are specific to the case studied and are comparable to those of social enterprise. They explain but also justify the behavioural diversity crowdfunding can induce.