I submitted this comment to the Securities & Exchange Commission after seeing this: Is The SEC Going To Significantly Raise The Accredited Investor Thresholds?
Our economy is in the tank. People need to create jobs. And while some banks are lending, most smaller entrepreneurial business do not and often will not qualify for bank loans.
Enter the individual “angel” investor, sometimes a dentist, often a successful entrepreneur. The good ones don’t just give you cash: they give you advice, they give you knowledge. This is what American entrepreneurs need––and they are what America needs.
Entrepreneurs and the companies they create will be what save these United States of America. And while we are a scrappy, resourceful bunch, we need access to capital to get started. And when we’re tiny and our business model is unclear and our prospects of success are the most uncertain, individual investors willing to make a bet on our success are how we survive.
The harder you make it for rich or even semi-rich guys to invest because of regulations, the less investors there will be––and fewer companies will survive or get started in the first place. Fewer companies means fewer jobs. And no one wants that.
So please, don’t make it harder for rich guys to invest in small, dinky companies like mine. American needs us, and we need them.
This is the time for public comment. In theory, they’re listening. Now’s our time to speak up. Do it here.