Raising funds for a small business can be a daunting task for any fledgeling entrepreneur. Whether it be from friends and family or from the general public, finding investors, setting terms of the funding, assigning equity and filing compliance documents is a challenge. Enter ProFounder, a stealth startup that launches today to ensure that all entrepreneurs and small businesses have access to an easy and simple fundraising platform.
ProFounder, which has been in private beta for the past year, offers entrepreneurs two ways to raise money on the site: through a private fundraising round, and/or a public fundraising round. The private fundraising rounds allow entrepreneurs to share a percentage of their revenues with investors (their friends, family, and community) over time. Essentially, this type of fundraising round is an offering of securities, and ProFounder helps facilitate compliance with state and federal laws related to this offering.
Public fundraising rounds allow entrepreneurs to share a percentage of revenues with both investors (anyone can participate – friends, family, community, and general public too) as well as a nonprofit organization. For both public and private fundraising rounds, ProFounder has a limit of $1 million raised.
Entrepreneurs can apply to Profounder, upload a pitch to offer to potential investors and then create a term sheet with Profounder’s templated forms and compliance sheets. As stated above, the term sheets are based on a revenue-share model. ProFounder then gives businesses a page where they can invite friends, family, and investors to a destination page that allows users to make contributions and investments directly on the site.
The bonus of using ProFounder is that the platform allows unaccredited investors (i.e. friends and family as opposed to a venture firm) to participate, so anyone can be an investor. And entrepreneurs can set their own investment terms and ProFounder facilitates all of the compliance, including tracking the number of investor seats in each state where each of their investors live, making sure entrepreneurs know which compliance documents they need to file, making sure entrepreneurs know which filing fees to pay, etc.
ProFounder, which was is the brainchild of Kiva co-founder Jessica Jackley and fellow Stanford Business School alum Dana Mauriello, also manages payouts and will pull funds from the entrepreneur’s bank account every quarter to pay investors their share of the business’ revenues.
ProFounder makes money by charging a 5 percent fee (of a public raise) and/or a flat $1,000 fee for any private raises.
If a company pays out investors before the terms of the deal end, then founders can choose to donate the rest of the revenues to a non profit organization. For example, if you offer two percent of your revenues to investors over the next five years and within two years, everyone has been fully paid, then the next three years of two percent of your revenues will go to the nonprofit.
To date, ProFounder has facilitated 5 successful private fundraising rounds, raising a total of $155,000 and engaging a total of 108 investors. For example, Bronson Chang, a recent USC alumni moved back to his native Hawaii to help out with the family business—a candy shop in Honolulu. Bronson wanted to open another shop in the area and raised $54,000 from 19 community members including friends, family, and USC classmates. Bronson is also currently raising an additional $60,000 through a public investing round.
Another private beta tester, BucketFeet, is a start-up from two recent college grads that makes hand-painted sneakers. The fledgling entrepreneurs managed to raise $60,000 from 37 investors including friends, family, and classmates across the country.
ProFounder’s model is similar in some ways to Kiva’s microlending, which recently opened up its platform to American entrepreneurs. Other companies playing in the space include Kickstarter, and Prosper.
But Jackley and Mauriello say that with the 27 million new and existing small businesses in the U.S., there are plenty of opportunities to offer fundraising and investment platforms to this demographic. Eventually, ProFounder will include social networking integration and possibly a convertible debt option for term sheets, say Jackley and Mauriello. In the end, Mauriello says, it’s about making sure that small business entrepreneurs have access to much-needed resources in terms of raising money.
Over the weekend I noted that Germany had achieved a degree of economic recovery after that country’s government implemented a relatively aggressive government austerity program, cutting a lot of unnecessary spending and regulation. In other words, doing the exact opposite of what Obama and Democrats have been doing here in America.
In Sweden they’re also doing the opposite of what Obama and Democrats want to do in America. Sweden has seen 6.9% growth in their GDP, year-on-year, after that country’s central bank raised interest rates and cut taxes for all citizens. Even the rich ones.
Sweden’s economy increased 6.9 percent in the third quarter after recording a revised 4.5 percent growth in the second quarter, the statistics office said Monday.
The record expansion — the fastest since 1971 — were much stronger than expected, making the krona swell to a one-month high versus the euro.
GDP rose 2.1 percent quarter-on-quarter versus expectations for 1.20 percent, with the year-on-year increase rising to 6.9 percent against forecasts of 5.25 percent, according to a Reuters poll. …
Sweden’s central bank raised its benchmark interest rate by 0.25 points to 1.0 percent last month, the third increase since July as the country’s economy makes a strong recovery from recession.
The article also credits Sweden’s economic boom to spending hikes and tax cuts:
In contrast to most of Europe, the Swedish government has been able to stimulate growth through spending hikes and tax cuts.
Of course, here in America we’ve tried the spending hikes. They haven’t worked. It’s clearly the tax cuts, along with the country’s push toward responsible finance practices with higher interest rates, that have resulted in the country’s prosperity.
We should do the same here in America, without the debt-creating spending hikes as we clearly can’t afford more debt as a nation.
By the way, it’s worth noting that Ireland is currently being bailed out to the tune of $90 billion thanks to the European Union’s low-interest rates and cheap money policy. Sweden, it should be noted, is a member of the EU but did not adopt the euro and thus is not under the auspices of the EU central bank.
Ireland’s collapse is a direct and immediate consequence of the euro. As early as 2001, Irish economists were warning that the boom was getting out of control, and that interest rates needed to go up. But, of course, therewere no Irish interest rates any more: There was only the European Central Bank. Its policy of cheap money was arguably excessive even for the core European economies; for Ireland, it amounted to catastrophically pro-cyclical monetary policy. A credit bubble was inflated; the bust, when it came, was commensurately painful.
We wouldn’t have these problems if we kept governments from playing games with monetary policy.
Tags: Economy, european union, ireland, sweden, tax cuts
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Raising funds for a small business can be a daunting task for any fledgeling entrepreneur. Whether it be from friends and family or from the general public, finding investors, setting terms of the funding, assigning equity and filing compliance documents is a challenge. Enter ProFounder, a stealth startup that launches today to ensure that all entrepreneurs and small businesses have access to an easy and simple fundraising platform.
ProFounder, which has been in private beta for the past year, offers entrepreneurs two ways to raise money on the site: through a private fundraising round, and/or a public fundraising round. The private fundraising rounds allow entrepreneurs to share a percentage of their revenues with investors (their friends, family, and community) over time. Essentially, this type of fundraising round is an offering of securities, and ProFounder helps facilitate compliance with state and federal laws related to this offering.
Public fundraising rounds allow entrepreneurs to share a percentage of revenues with both investors (anyone can participate – friends, family, community, and general public too) as well as a nonprofit organization. For both public and private fundraising rounds, ProFounder has a limit of $1 million raised.
Entrepreneurs can apply to Profounder, upload a pitch to offer to potential investors and then create a term sheet with Profounder’s templated forms and compliance sheets. As stated above, the term sheets are based on a revenue-share model. ProFounder then gives businesses a page where they can invite friends, family, and investors to a destination page that allows users to make contributions and investments directly on the site.
The bonus of using ProFounder is that the platform allows unaccredited investors (i.e. friends and family as opposed to a venture firm) to participate, so anyone can be an investor. And entrepreneurs can set their own investment terms and ProFounder facilitates all of the compliance, including tracking the number of investor seats in each state where each of their investors live, making sure entrepreneurs know which compliance documents they need to file, making sure entrepreneurs know which filing fees to pay, etc.
ProFounder, which was is the brainchild of Kiva co-founder Jessica Jackley and fellow Stanford Business School alum Dana Mauriello, also manages payouts and will pull funds from the entrepreneur’s bank account every quarter to pay investors their share of the business’ revenues.
ProFounder makes money by charging a 5 percent fee (of a public raise) and/or a flat $1,000 fee for any private raises.
If a company pays out investors before the terms of the deal end, then founders can choose to donate the rest of the revenues to a non profit organization. For example, if you offer two percent of your revenues to investors over the next five years and within two years, everyone has been fully paid, then the next three years of two percent of your revenues will go to the nonprofit.
To date, ProFounder has facilitated 5 successful private fundraising rounds, raising a total of $155,000 and engaging a total of 108 investors. For example, Bronson Chang, a recent USC alumni moved back to his native Hawaii to help out with the family business—a candy shop in Honolulu. Bronson wanted to open another shop in the area and raised $54,000 from 19 community members including friends, family, and USC classmates. Bronson is also currently raising an additional $60,000 through a public investing round.
Another private beta tester, BucketFeet, is a start-up from two recent college grads that makes hand-painted sneakers. The fledgling entrepreneurs managed to raise $60,000 from 37 investors including friends, family, and classmates across the country.
ProFounder’s model is similar in some ways to Kiva’s microlending, which recently opened up its platform to American entrepreneurs. Other companies playing in the space include Kickstarter, and Prosper.
But Jackley and Mauriello say that with the 27 million new and existing small businesses in the U.S., there are plenty of opportunities to offer fundraising and investment platforms to this demographic. Eventually, ProFounder will include social networking integration and possibly a convertible debt option for term sheets, say Jackley and Mauriello. In the end, Mauriello says, it’s about making sure that small business entrepreneurs have access to much-needed resources in terms of raising money.
Over the weekend I noted that Germany had achieved a degree of economic recovery after that country’s government implemented a relatively aggressive government austerity program, cutting a lot of unnecessary spending and regulation. In other words, doing the exact opposite of what Obama and Democrats have been doing here in America.
In Sweden they’re also doing the opposite of what Obama and Democrats want to do in America. Sweden has seen 6.9% growth in their GDP, year-on-year, after that country’s central bank raised interest rates and cut taxes for all citizens. Even the rich ones.
Sweden’s economy increased 6.9 percent in the third quarter after recording a revised 4.5 percent growth in the second quarter, the statistics office said Monday.
The record expansion — the fastest since 1971 — were much stronger than expected, making the krona swell to a one-month high versus the euro.
GDP rose 2.1 percent quarter-on-quarter versus expectations for 1.20 percent, with the year-on-year increase rising to 6.9 percent against forecasts of 5.25 percent, according to a Reuters poll. …
Sweden’s central bank raised its benchmark interest rate by 0.25 points to 1.0 percent last month, the third increase since July as the country’s economy makes a strong recovery from recession.
The article also credits Sweden’s economic boom to spending hikes and tax cuts:
In contrast to most of Europe, the Swedish government has been able to stimulate growth through spending hikes and tax cuts.
Of course, here in America we’ve tried the spending hikes. They haven’t worked. It’s clearly the tax cuts, along with the country’s push toward responsible finance practices with higher interest rates, that have resulted in the country’s prosperity.
We should do the same here in America, without the debt-creating spending hikes as we clearly can’t afford more debt as a nation.
By the way, it’s worth noting that Ireland is currently being bailed out to the tune of $90 billion thanks to the European Union’s low-interest rates and cheap money policy. Sweden, it should be noted, is a member of the EU but did not adopt the euro and thus is not under the auspices of the EU central bank.
Ireland’s collapse is a direct and immediate consequence of the euro. As early as 2001, Irish economists were warning that the boom was getting out of control, and that interest rates needed to go up. But, of course, therewere no Irish interest rates any more: There was only the European Central Bank. Its policy of cheap money was arguably excessive even for the core European economies; for Ireland, it amounted to catastrophically pro-cyclical monetary policy. A credit bubble was inflated; the bust, when it came, was commensurately painful.
We wouldn’t have these problems if we kept governments from playing games with monetary policy.
Tags: Economy, european union, ireland, sweden, tax cuts
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Raising funds for a small business can be a daunting task for any fledgeling entrepreneur. Whether it be from friends and family or from the general public, finding investors, setting terms of the funding, assigning equity and filing compliance documents is a challenge. Enter ProFounder, a stealth startup that launches today to ensure that all entrepreneurs and small businesses have access to an easy and simple fundraising platform.
ProFounder, which has been in private beta for the past year, offers entrepreneurs two ways to raise money on the site: through a private fundraising round, and/or a public fundraising round. The private fundraising rounds allow entrepreneurs to share a percentage of their revenues with investors (their friends, family, and community) over time. Essentially, this type of fundraising round is an offering of securities, and ProFounder helps facilitate compliance with state and federal laws related to this offering.
Public fundraising rounds allow entrepreneurs to share a percentage of revenues with both investors (anyone can participate – friends, family, community, and general public too) as well as a nonprofit organization. For both public and private fundraising rounds, ProFounder has a limit of $1 million raised.
Entrepreneurs can apply to Profounder, upload a pitch to offer to potential investors and then create a term sheet with Profounder’s templated forms and compliance sheets. As stated above, the term sheets are based on a revenue-share model. ProFounder then gives businesses a page where they can invite friends, family, and investors to a destination page that allows users to make contributions and investments directly on the site.
The bonus of using ProFounder is that the platform allows unaccredited investors (i.e. friends and family as opposed to a venture firm) to participate, so anyone can be an investor. And entrepreneurs can set their own investment terms and ProFounder facilitates all of the compliance, including tracking the number of investor seats in each state where each of their investors live, making sure entrepreneurs know which compliance documents they need to file, making sure entrepreneurs know which filing fees to pay, etc.
ProFounder, which was is the brainchild of Kiva co-founder Jessica Jackley and fellow Stanford Business School alum Dana Mauriello, also manages payouts and will pull funds from the entrepreneur’s bank account every quarter to pay investors their share of the business’ revenues.
ProFounder makes money by charging a 5 percent fee (of a public raise) and/or a flat $1,000 fee for any private raises.
If a company pays out investors before the terms of the deal end, then founders can choose to donate the rest of the revenues to a non profit organization. For example, if you offer two percent of your revenues to investors over the next five years and within two years, everyone has been fully paid, then the next three years of two percent of your revenues will go to the nonprofit.
To date, ProFounder has facilitated 5 successful private fundraising rounds, raising a total of $155,000 and engaging a total of 108 investors. For example, Bronson Chang, a recent USC alumni moved back to his native Hawaii to help out with the family business—a candy shop in Honolulu. Bronson wanted to open another shop in the area and raised $54,000 from 19 community members including friends, family, and USC classmates. Bronson is also currently raising an additional $60,000 through a public investing round.
Another private beta tester, BucketFeet, is a start-up from two recent college grads that makes hand-painted sneakers. The fledgling entrepreneurs managed to raise $60,000 from 37 investors including friends, family, and classmates across the country.
ProFounder’s model is similar in some ways to Kiva’s microlending, which recently opened up its platform to American entrepreneurs. Other companies playing in the space include Kickstarter, and Prosper.
But Jackley and Mauriello say that with the 27 million new and existing small businesses in the U.S., there are plenty of opportunities to offer fundraising and investment platforms to this demographic. Eventually, ProFounder will include social networking integration and possibly a convertible debt option for term sheets, say Jackley and Mauriello. In the end, Mauriello says, it’s about making sure that small business entrepreneurs have access to much-needed resources in terms of raising money.
Over the weekend I noted that Germany had achieved a degree of economic recovery after that country’s government implemented a relatively aggressive government austerity program, cutting a lot of unnecessary spending and regulation. In other words, doing the exact opposite of what Obama and Democrats have been doing here in America.
In Sweden they’re also doing the opposite of what Obama and Democrats want to do in America. Sweden has seen 6.9% growth in their GDP, year-on-year, after that country’s central bank raised interest rates and cut taxes for all citizens. Even the rich ones.
Sweden’s economy increased 6.9 percent in the third quarter after recording a revised 4.5 percent growth in the second quarter, the statistics office said Monday.
The record expansion — the fastest since 1971 — were much stronger than expected, making the krona swell to a one-month high versus the euro.
GDP rose 2.1 percent quarter-on-quarter versus expectations for 1.20 percent, with the year-on-year increase rising to 6.9 percent against forecasts of 5.25 percent, according to a Reuters poll. …
Sweden’s central bank raised its benchmark interest rate by 0.25 points to 1.0 percent last month, the third increase since July as the country’s economy makes a strong recovery from recession.
The article also credits Sweden’s economic boom to spending hikes and tax cuts:
In contrast to most of Europe, the Swedish government has been able to stimulate growth through spending hikes and tax cuts.
Of course, here in America we’ve tried the spending hikes. They haven’t worked. It’s clearly the tax cuts, along with the country’s push toward responsible finance practices with higher interest rates, that have resulted in the country’s prosperity.
We should do the same here in America, without the debt-creating spending hikes as we clearly can’t afford more debt as a nation.
By the way, it’s worth noting that Ireland is currently being bailed out to the tune of $90 billion thanks to the European Union’s low-interest rates and cheap money policy. Sweden, it should be noted, is a member of the EU but did not adopt the euro and thus is not under the auspices of the EU central bank.
Ireland’s collapse is a direct and immediate consequence of the euro. As early as 2001, Irish economists were warning that the boom was getting out of control, and that interest rates needed to go up. But, of course, therewere no Irish interest rates any more: There was only the European Central Bank. Its policy of cheap money was arguably excessive even for the core European economies; for Ireland, it amounted to catastrophically pro-cyclical monetary policy. A credit bubble was inflated; the bust, when it came, was commensurately painful.
We wouldn’t have these problems if we kept governments from playing games with monetary policy.
Tags: Economy, european union, ireland, sweden, tax cuts
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader <b>...</b>
Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Movie <b>News</b> Quick Hits: Emma Stone's 'Spider-Man' Look, Annie Nods <b>...</b>
Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. Stone, who's usually in films as a ...
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