Growthfunders the UK Based Equity crowdfunding portal launched an E-petition this week to push Her Majesty’s Government to help kickstart the UK economy.
The entire text of the missive is below:
We need to fill the void in the capital market with an innovative and effective funding solution Responsible department: Her Majesty’s Treasury
The economy and reduced access to traditional funding conspire to stifle start-ups, thwarting growth and entrepreneurs and viable businesses from reaching their potential, inhibiting economic stimulus, recovery and job creation.
Alternative finance sources, ie crowdfunding and peer-to-peer lending, potentially significantly contribute to growth and job creation, opening opportunities to the wider public.
For the market to develop and mature, clear policy is essential for platforms, investors and investees to ensure risks and responsibilities are understood, transparency and accountability maintained.Government should open up investment opportunities to the wider public, give clear guidance on the level of funds private individuals can invest, allow investment of ISAs and SIPP/SSAS pension funds, match funds to ensure a higher percentage actually reach business.
If the UK fails to follow the US Jobs Act lead we risk potential benefits and returns being lost to foreign investors.
The listed closing date of this movement is the 12th of June 2013.
Growthfunders went on to further explain the need to petition the UK Government on their blog where they highlighted;
Entrepreneurs and small businesses are the lifeblood of the UK economy but the prevailing economic climate, coupled with the reduced accessibility of traditional funding sources, is conspiring to stifle start up and growth. The result is that we have some hugely talented and innovative entrepreneurs and viable businesses being thwarted of opportunities to reach their full potential. In addition, this is inhibiting economic stimulus and recovery as well as job creation.