Whether or not the State of Ohio has any affinity for crowdfunding as a means of capital formation, it is clear that many entrepreneurs are ready for restrictive, Great-Depression-era regulations to be loosened.
A recent article in the Cincinnati Business Courier documented a recent visit by House Representative Brad Wenstrup (R-OH 2nd District) to Cintrifuse, a Cincinnati-based business accelerator. Entrepreneurs working to build businesses at Cintrifuse were vocal in their need for increased access to capital.
One entrepreneur laughed off the current prohibitions on crowdfunding with an often-used argument…
“We kind of joke all the time that I can blow as much money as I want at the casino, but I can’t write a $5,000 check to him to help fund his business,” said Differential co-founder Tim Metzner.
In response, Rep. Wenstrup urged the entrepreneurs to continue to write letters and place calls to their representatives in Washington.