Crowdfunding Will Bring More Capital To Small Businesses, Panel Tells Congress


Washington, DC — September 13, 2012 – The Securities and Exchange Commission should move with “due speed and clarity,” a panel urged the House Joint Subcommittee Hearing on JOBS Act Implementation. Naval Ravikant, CEO of AngelList, tesified that crowdfund investing will bring more capital to small business, adding ”Today’s small start-ups are tomorrow’s Fortune 500 employer.”

The committee originally scheduled the hearing to get a progress report from SEC chair Mary Schapiro, regarding the creation of rules that will implement the JOBS Act. The Jumpstart Our Business Startups Act requires the Securities and Exchange Commission to launch regulations to govern crowdfund investing. The Act will enable small businesses to raise up to $ 1 million per year from small investors through online, crowdfund portals.

Although Ms. Schaprio could not attend, members of academia, small businesses and the crowdfund communities urged that job creation visioned under the JOBS Act should move forward with due speed and clarity. “Critics have argued loose rules may invite fraud, Mr. Ravikand testified. “Rules that are too tight, however, may repel the good companies – the ones who drive all of the economic returns for investors.”

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About Stephen G. Barr, Group Publisher

Author, Syndicated Columnist, Editor In-Chief and Group Publisher at SGB Media Group, a social media marketing firm specializing in digital media content production, publishing, affiliate marketing, public relations and advertising. Over 25 years experience in retailing, advertising, website & online forum development, niche social networking, affiliate marketing, search optimization, branding and identity, site location, non-profit fund raising. Event planning, promotion, production and MC/Host at public events. Author, Editor & Publisher of 35 syndicated, digital publications utilizing multiple digital distribution channels in conjunction with launching and administrating national advertising campaigns for major Fortune 500 advertisers in partnership with Google, Ning, Facebook, Myspace, Yahoo, DoubleClick, LinkShare, PepperJam and other industry leading third party affiliate networks. Product development team member from conception to launch on many websites, tangible goods and organizational structure for start ups. Specialties: Public relations, retailing, advertising, website & online forum development, niche social networking, blogging, email campaigns, affiliate/performance marketing, search optimization, branding and identity, site location, event production & promotion, non-profit fund raising and tasteful, responsible adult content publishing. An internationally recognized and read social media columnist & pundit on The Examiner, Associate Content, Vator.tv, X-Biz.net and Technorati and his own affiliated sites.

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