Crowdfunding now available to business startups in BC
The British Columbia Securities Commission has sanctioned crowdfunding to raise money through issuing securities through the platform www.InvestLocalBC.ca
The online platform is administered by Community Futures Stuart Nechako and available to start-up businesses throughout BC as a way of marshelling local capital for ventures.
Investing locally has long been recognized as a way to support community economic development but up till now the securities rules have only allowed "accredited investors", those with the financial means to sustain large losses, to invest directly as shareholders in private companies.
According to Kimberley's Economic Development Officer Kevin Wilson "This is an exciting opportunity for businesses to leverage community support, not only through a customer base, but to capitalize ventures that employ local people."