New laws in the US, passed in 2015, mean the same everyday folks who have backed video games and kitchen gadgets on platforms such as Kickstarter will be able to put thousands of dollars into building a shopping center, for example, or developing a trailblazing vehicle. Companies can now raise up to $4 million from nonaccredited investors, who do not need to meet income or net worth requirements. Why is this relevant? Well, this could be a “game changer” for neighborhood businesses, Chicago Tribune writes. Individual citizens could support their favorite pizzeria or renovate a neighborhood building, putting up money in exchange for a small piece of equity.
Small neighborhood businesses could benefit from relaxed crowdfunding laws
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