Small business owners aren't excited about a new law that will allow them to raise money by soliciting investors on the Internet, according to a survey made available to The Associated Press.
Only 3 percent of business owners surveyed by Pepperdine University and Dun & Bradstreet Credibility Corp. say the passage in March of a bill known as the JOBS Act increases the likelihood that companies will raise money through a practice known as crowdfunding. Under crowdfunding, companies will be able to use websites that will link them with millions of investors and allow them to each raise up to $1 million a year. The sites won't begin operating until the Securities and Exchange Commission creates regulations to govern crowdfunding, and that's not expected to happen until the end of this year at the earliest.
