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SMALL BUSINESS NEWS

12 September 2011

 

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Something Good for Small Businesses Is In the Works

HR.1070  -   THE SMALL COMPANY CAPITAL FORMATION ACT OF 2011


Taking a company public is a method of raising capital to grow and expand the business, however, it is also expensive and requires millions in underwriting costs.

Earlier this year Arizona Congressman David Schweikert (R) introduced a bill that would make it less costly for small businesses to go public. The bill is called the Small Company Capital Formation Act. 
Currently under the Securities Act of 1933 businesses trying to go public with an offering valued at less than $5,000,000 are exempted from making periodic disclosures available to investors regarding the issuer, its business operations, its financial condition, and its use of investor funds.  This reduces the cost of going public on small businesses.
The bill currently in congress (HR.1070) introduced by Congressman Schweikert (R) seeks to raise the threshold from $5,000,000 to $50,000,000.  Hence a larger number of small businesses can partake in this benefit.  This is especially crucial at a time when it is difficult for small businesses to obtain capital.
The bill is currently in the House of Representatives.  If you wish to voice your support for the bill, you can do so here 

You can also follow the status of the bill here

Source:  HR.1070 
By Owen Daniels

 

 

 

 

 

 
 

 

  
 

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