|U.S. Representative and Chairman of the House Small Business Committee Steve Chabot at the 2016 State of Entrepreneurship Address|
How will the act help small business?
The Main Street Growth Act has been introduced by Representatives Steve Chabot (R-OH) and Scott Garrett (R-NJ). The purpose of the bill is to create venture exchange markets from which small companies can access capital. The big difference with the new act is that small businesses would be able to compete for capital by removing many of the roadblocks that now prevent them from qualifying.
The new legislation would create a better path for small businesses to get access to capital. Currently, the regulations for venture exchange markets are designed with larger corporations in mind, making it difficult to impossible for small business to compete. The new act would allow the creation of venture exchange markets to facilitate the resale of privately held securities specifically for small and emerging companies.
Removing the roadblocks that small businesses face when it comes to getting funding is important for the survival and growth of startups and growth companies. It also means the creation of more jobs and a positive impact on the U.S. economy.
Read more at smallbiztrends.com/2016/03/bill-gives-businesses-access-funding.html