In a rare multi-party show of cooperation and consensus, the U.S. House several weeks ago passed, by a vote of 407-17, The Entrepreneur Access to Capital Act. This act legitimizes the burgeoning practice of Crowdfunding, in which entrepreneurs raise necessary capital not in large pieces from a few traditional sources, but instead in smaller amounts from many supporters gathered over the Internet. In contrast, the U.S. Senate will shortly hold hearings on an alternative bill that, while on the surface also claiming to support Crowdfunding, would in fact functionally eviscerate and render it moot. The Senate bill as introduced only allows $1,000 investment per individual, with significantly greater regulation, instead of the House’s $10,000 limit with fewer restrictions. In spite of ostensibly principled concerns from traditional regulatory sectors, Crowdfunding deserves a functioning place in our entrepreneurial ecosystem.
To read the full, original article click on this link: Supporting the Socially Networked Entrepreneur
