Home > business, Crowdfunding, Real Estate > Celebrating Entrepreneurship and Crowdfunding

Celebrating Entrepreneurship and Crowdfunding

February is the time to celebrate Entrepreneurship.

The National Entrepreneurship Week is slated for February 21 – 28 – you can check out the National website here to see what’s going on nationally to celebrate entrepreneurship.

What’s going on In Michigan…

Detroit is currently in its Entrepreneur Week – you can check out some of what’s been going on here:  Also follow @michipreneur on twitter or visit their website

Every State Governor has issued its own Proclamation for Entrepreneurship Week. Governor Snyder issued a Proclamation declaring that February 18 is Michigan Entrepreneurship Week. If you want to check out more resources and see what’s going on in Michigan for Entrepreneurship check out these resources

While I’ve got your attention….

an update on Intrastate Crowdfunding Laws.

Crowdfund Insider just a few days ago published an article that provides useful information on the status of crowdfunding laws in various states.

Although Intrastate Crowdfunding laws have been criticized for their perceived lack of utility for startup businesses, this certainly isn’t stopping State Legislators from proposing their own crowdfunding exemptions. The latest proposed bills are tweaking areas that appear to be problem areas for states. Two observations based upon the new bills,

1. States do not want to be disadvantaged by not having a crowdfunding Exemption available for their startup business communities.

The 6 states that initially introduced Crowdfunding Exemptions has blossomed into 13, with 13 other states having bills introduced. Regardless of its critics, State Legislators want to encourage entrepreneurship. They see crowdfunding as a way to do that.

2. States without Crowdfunding Exemptions are listening to the critics and therefore are proposing bills that get around some of the problem areas.

Critics of crowdfunding claim that the costs associated with intrastate crowdfunding make it an inefficient tool. Also, the language in the earlier versions of crowdfunding laws limit the ability for certain real estate investment companies to efficiently crowdfund. In response, some States are proposing bills that increase the funding caps and make it more flexible for certain real estate investment companies to utilize the exemption, while at the same time maintaining fraud prevention measures (requiring significant disclosures to investors, requiring issuers to have all deals flow through a registered crowdfunding portal – that has government oversight and approval.)

Questions? Comments?

email: Jeshua@dwlawpc.com

http://www.dwlawpc.com

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