Michigan's new crowdfunding for equity law will help start-up businesses
Listen to an interview on Michigan Public Radio to learn about the new MILE Act and what it means for Michigan companies.
"There's no arguing the fact that startups are a key to a thriving economy. Between 1980 to 2005, for example, nearly all net job creation in the U.S. came from companies less than five years old.
But what does that start-up need before it gets up and running, creating jobs, selling products, paying taxes? It needs capital. And getting that initial dose of money can be a tough challenge for a small business.
That's why there's growing excitement over Michigan's new crowdfunding law. It's called the Michigan Invests Locally Exemption – "MILE."
Let's find out what this new law means for Michigan start-ups and for your opportunities to invest in small businesses.
Sandra Cochrane is a consultant with the Michigan Small Business Development Center, and she joined us today."