Passing 390 to 23 in the House, the JOBS Act would make it easier for small firms and startups to access capital and boost hiring by relaxing some Securities and Exchange Commission requirements, according to an article in The Huffington Post.
Officially called the “Jumpstart Our Business Startups Act,” the Act includes six bills.
Business strategist and author Carol Roth does a nice job breaking down each of the six bills and explaining the pros and cons of each in her blog.
The first three bills described in Roth's blog are the bills that would be best for small business, she says.
Title II removes advertising restriction — used to solicit investors — for small businesses offering securities under Regulation D.
Title III allows startups to raise equity from non-accredited investors, but there are limits on how much money can be invested by individual donors and how much money can be raised before a startup has to register with the SEC.
Title VI increases the number of shareholders that can invest in a community bank, which, according to Roth, should result in some trickle down into the small business economy.
The package of bills may reach a Senate vote in a week, according to an article from The Associated Press.
With unemployment remaining at 8.3 percent and Congress’s poor approval ratings, passage of the bill may be Congress’s way of winning approval from voters.
An article from EcoGreenOffice highlights the numerous positive impacts of small, locally owned business on sustainability and the economy, showing that if the JOBS Act is passed in the Senate, and truly helps entrepreneurs, Congress may have finally made a good move.
For further reading on the JOBS Act:
USA Today (article from The Associated Press)
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| The JOBS Act passed by an overwhelming majority in the House on Thursday, March 9. If approved by the Senate, the bill could be a boost for upstart businesses, helping local economies and sustainable initiatives across the country. |
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