Ed Husic claims equity crowdfunding changes will exclude 99% of companies ahead of Senate debate

“The federal Labor Party will attempt to amend the government’s equity crowdfunding legislation when it is debated in the Senate next week, with federal shadow minister for the digital economy Ed Husic claiming the proposed bill would exclude the majority of early stage businesses.

The federal government is making its second attempt to pass the Corporations Amendment (Crowd-sourced Funding) Bill 2016, which would allow unlisted public companies with under $25 million in assets and annual turnover will be able to raise as much as $5 million a year on crowdfunding platforms.” Read more

Dinushi Dias StartupSmart 22 Feb 2017