House Bill 11-1266 was introduced in the Colorado legislature Tuesday calling for the establishment of private capital exchanges, licensing of private capital agents and the establishment of a $100 million per year seed capital fund to address the critical lack of capital now available in Colorado for small businesses. The bill may represent the most significant economic development legislation this year with the greatest potential to create new jobs in Colorado.
Representative Pete Lee (HD-18) of Colorado Springs seeks to help small businesses in Colorado create new jobs. Recognizing that small businesses are the greatest source of new jobs in Colorado, creating 99.7% of net new jobs from 2004 to 2005 (Source – U.S. Small Business Administration), Representative Lee is sponsoring a bill designed to have the greatest possible economic development impact without use of State funding, help drive innovation at the grass roots level, and to create a climate of collaboration and opportunity for a large number of small businesses entrepreneurs in Colorado who are in need of creative capital solutions to the growth and development of their companies.
To read the full, original article click on this link: Legislation proposes to create Colorado small business capital market - Denver business innovation | Examiner.com
Author: Karl Dakin
