McHenry Talks Crowdfunding with Local Entrepreneurs

Lake Lure – Today, Congressman Patrick McHenry gave the keynote address at the Carolina Entrepreneur Conference. McHenry used the occasion to explain his crowdfunding legislation to local entrepreneurs. Recently ranked by Forbes Magazine as one of the top ten most influential people in the country in business crowdfunding, Congressman McHenry spoke at length about the potential his legislation has for small businesses looking for access to capital.

“While we’re still waiting for the SEC to complete the strong investor protections necessary for crowdfunding, it is important to get everyone familiar with the concept and how it can benefit their small businesses,” said McHenry. “Perk-based crowdfunding alone has helped raise hundreds of millions of dollars for start ups and entrepreneurs looking to get their ideas off the ground. I’m excited about the potential growth and innovation we’ll see once this new law takes effect.”

Crowdfunding, passed as part of the JOBS (Jumpstart Our Businesses Startups) Act, was signed into law by President Obama on April 5, 2012. The SEC was given 270 days to write rules for the legislation that should officially be legal starting in early 2013.

“The number one issue our nation’s leaders need to address today is creating more good jobs for the American people,” Congressman McHenry continued. “This legislation is a small step forward and I’ll continue to push efforts to improve our economy.”

The Carolina Entrepreneur Conference, which brings together experienced entrepreneurs and service providers, is hosted annually by the Carolina Financial Group and leading accounting firm Dixon-Hughes Goodman.