May 8, 2011
Ms. Mary L. Schapiro Chairman, U.S. Securities and Exchange Commission
Dear Ms. Schapiro,
As a graduate student of business and a long-time small business owner, I support the petition for rule-making change #4-605 from the Sustainable Economies Law Center, a request that the SEC to allow individuals to invest up to $100 in a small securities offering. To be honest, I encourage you to consider raising this limit to $1000 per individual.
In the wake of our financial crisis in this country, it has become more difficult for small businesses to raise capital for improving efficiency or for growth. As you may already know, it is essential for our economic future that small-business have the regulatory support to start and grow. These small business create jobs and stimulate local economies, an essential element of our economic recovery.
At a time when small businesses need these loans most, this modest but timely change to SEC policy can help build local economies and strengthen the national economy in the process while, at the same time, providing needed structure to a currently unregulated market.
I urge you to act quickly to make this modest change that could be a big win-win for small, local businesses and other ventures as well as investors looking to strengthen their local economies. Thank you for your strongest consideration of this petition.
Ram Hariharan
MBA Candidate 2012
Bainbridge Graduate Institute,
Bainbridge Island, WA