Here’s what you need to know from the recently released Corporations and Markets Advisory Committee report about crowdfunding for startups and SMEs.
After my article last week, an entrepreneur who has a vested interest in crowdsourcing reached out to me to further discuss crowdfunding, specifically for small business.crowdfunding marketing
He was frustrated key overseas markets had enabled investment via crowdfunding platforms, which ultimately meant investment stayed in those countries, instead of flowing out. Seeing startups in Australia leave for overseas, and take their skills, ideas and the money with them, was a definite soap box moment for my guy. crowdfunding advertising
It reminded me of how little has been learnt from overseas e-commerce retailers, who are now incumbent in the Australian market. Are we ever to learn and get to market faster and smarter with these new opportunities to keep or bring wealth into our country?indiegogo marketing
The good news is, with countries like New Zealand who legislated in April 2014 and the UK, US and Canada embracing crowd funding, there is a useful contribution Australia can make and achieve some balance between regulation and innovation across borders. kickstarter marketing
I saw a speech by Communications Minister Malcolm Turnbull, fortunately he was talking with his commercial, not political, cap on. He very much pushed the fact regulation had to get out of the way of innovation. It is suffocating our market and our talent in Australia. kickstarter project
In New Zealand, the key points are:
Key points from the CAMAC report that are likely to impact an announcement in Australia soon about legislated crowdfunding models for SMEs are: