August 20, 2013
The new proposed filing requirements will make it extremely difficult for the startups to seek funding. The young entrepreneurs need to be able to easily raise money without going through the funding formalities. Many of us young entrepreneurs are not savvy of the legal jargon and processes. We definitely can't afford to hire expensive lawyers and finance gurus in the early startup stage. We just want to focus on our raising money to help our businesses grow bigger. When we are out of the startup stage, then we will be able to afford to follow the stringent guidelines laid out by SEC for big companies with big revenues.