STERLING HEIGHTS ? Macomb Area Communities for Regional Opportunities and the Sterling Heights Regional Chamber will host an informational luncheon on investment crowd funding on May 9 where a panel of state and regional experts will discuss Michigan?s pioneering interstate crowd funding legislation.
They also will discuss opportunities for residents to grow their local economy; and the role crowd funding can play in shaping the future of the region.
PA 264 allows existing Michigan businesses to raise capital from private, non-accredited Michigan investors. It is estimated that non-accredited investors comprise about 97 percent of the population.
The Michigan Municipal League hails the state?s crowd funding legislation as ?a powerful economic tool for using local capital to support and grow local businesses, fund start-ups and nurture an entrepreneurial environment in Michigan.?
MML Director of Policy Initiatives and Federal Affairs Summer Minnick will discuss the economic benefits of crowd funding and the launch of a crowd funding program to assist League members in connecting local projects to Michigan investors.
Fellow panelists include Kyle DeWitt, a local entrepreneur; Angela Barbash, founder of Reconsider, an impact economy and research education firm; and Chris Miller, the DDA and Economic Development Coordinator of Adrian, who brought the idea of a Michigan investment crowd funding bill to Rep. Nancy Jenkins and was intimately involved in the passage of the bill.
?Michigan?s MILE ? Michigan Invests Locally Exemption – is the most progressive intrastate investment crowd funding mechanism in the country,? Miller said. ?Capital, either to start up or expand small businesses, is less available from conventional sources today than at any time in history.
If you couple that with our free market and the fact that small businesses are the backbone of the economy, it?s clear the lack of available capital is a significant and pervasive problem. Investment crowd funding has the potential to solve this problem.?
In support of local crowd funding initiatives MACRO and the SHRCCI are hosting ?Investment Crowd Funding,? a panel discussion and luncheon, from 11:30 a.m. to 2 p.m. Friday, May 09 at Velocity, located at 6633 18 Mile Road in Sterling Heights. Tickets are $20 and include a boxed lunch.
Registration is available on line at SHRCCI.Com
