A majority of both parties supported the JOBS Act and leaders in both parties claim credit for the accomplishment. You would think they would want to implement the Act as soon as possible, but except for a few members in either chamber, the Congress is oblivious too.
April 5 marks the one year anniversary of the JOBS Act. It legalized equity-based crowdfunding in the U.S., which would allow ordinary Americans to invest in newly forming and established small businesses they believe in, while realizing a return on their contribution.
There are scores of crowdfunding advocates and entrepreneurs poised to jump into this emerging marketplace as soon as the final rules and regulations are finished, but there are crowdfunding detractors as well who caution that this will be a fraught process.
What really separates a good company is the quality of the product -- not the money backing the company, which is why I encourage managements to spend most of the time discovering how to develop their great idea with limited capital.
Signed into law last week by President Obama, the JOBS Act is heralded as a measure set to revolutionize how startup companies, investors (experienced and novice), the SEC and Wall Street will be able to interact in the investment world.