August 18, 2013
The atmosphere for entrepreneurship in this country has certainly changed in the last seven years. More and more, we see individuals of all ages and ethnicities taking the leap of faith and starting a company. Sometimes these companies are started with deep thought into the market, business model and opportunity associated. There are other times which seems to be the norm, when a company is founded on testing the feasibility and validity of an idea. In this case entrepreneurs have tunnel vision, with only their product in mind. They're taught to start an LLC or other business structure for legal reasons or if they want to make money but nothing after that. The ease of filling has made that a 15 minute process but there is still a lack of teaching on what to do after that and what to be more involved with. The requirements that are being put forth would severely hurt the entrepreneur(s) who concentrates solely on the feasibility and validity of an idea.
Startups are known for moving quick and focusing on the one thing that matters. If there are requirements put in place that slows down that mindset, do you believe it will slow down the acceleration of startups being created? If your answer is maybe, that is a maybe that could have an effect on this country's economy as the startup movement around the nation has been a proponent to job creation and positive economic development. A one year ban from fundraising could significantly hurt or even crumble a business still attempting to gain traction.
I'm not saying no to regulation in the current environment, as there is much data I don't see but what I'm saying is that the parameters and consequences around these being considered need to be adjusted to fit the reality of the modern entrepreneurial mindset and environment.
Kind regards,
Entrepreneurs Everywhere