Business Secretary Vince Cable has announced steps to create a new taskforce to boost the future of business finance for SMEs, including a focus on crowdfunding. The taskforce’s raison d’être will be to examine the challenges facing small businesses seeking finance options and improve access to finance for small businesses. In Vince Cable’s own words, “I want to see as much competition in the market as possible and for businesses to have access to a wide range of finance sources.”
The UK taskforce follows President Obama backing a crowdfunding revolution in the US with the Obama administration and Republican lawmakers drafting legislation that allows ordinary US citizens to pool their money together to back an entrepreneur or business. The U.S. Securities and Exchange Commission (SEC) is looking to revamp the rules as it seeks to keep pace with emerging models and public demand.
To read the full, original article click on this link: Crowdfunding is the future of entrepreneurial finance | The Economic Voice
