In a press release issued by the White House today to celebrate the 1-year anniversary of Startup America, President Obama again called on Congress to pass a Crowdfunding Bill that would allow entrepreneurs to Crowdfund Investments to launch new businesses and create jobs.
The announcement comes after the State of the Union Address in which President Obama made reference to easing the regulatory burdens on startups, small businesses and entrepreneurs.
The current regulatory system requires that entrepreneurs seeking to raise capital go through lengthy and costly procedures.
These procedures are necessary for businesses that are raising larger, more traditional means of financing but for ideas coming from college business plan competitions or Startup Weekend Challenges they are a deterrent.
Since small businesses are our nation’s net job creators, we need to do everything in our power to get them the capital they need so that they can innovate and hire.
Crowdfund Investing is a zero-cost solution to the jobs crisis. It doesn’t require government spending but easing of regulations that were written over 80 years ago. These regulations while good in there intent are holding back the creative force of America’s entrepreneur. Only with the advances in the Internet and Technology can easing regulations allow the crowd to step in where Wall Street and the Banks have left off.