From The Moderate Voice:
Small entrepreneurial businesses are the heart of an innovative economy. They have been the backbone of the creative US dominance for our entire history. Brilliant, creative, hard-working minds dream and then build businesses. They start in the proverbial “garage,” grow into a small incubator space, then into a small building and ultimately into large companies. See Microsoft, Facebook and Express Scripts.
Other entrepreneurs design a game-changing technology that one of the giants acquires. Most fail, in one form or another. Some have great ideas, game-changing ideas, but can’t secure funding to move out of their garage.
One of the reasons for this is the current state of securities regulations. The JOBS Act helped and was a good start. Congress and the President should consider whether any federal regulations should apply to companies raising less than five million dollars. In particular, start-ups who are just trying to get their idea off the ground.
Eliminate all federal laws, regulations and rules relating to raises of capital under five million dollars.