COLUMBUS – Representative Jena Powell (R-Arcanum) recently announced the unanimous passing of her Small Business Funding Act, HB 312, which passed 92-0.
Rep. Powell says, “As a business owner and entrepreneur myself, I know the challenges that business owners in our state face. Eighty-two percent of business failure is due to a lack of capital.”
“When we remove barriers for raising needed capital through crowdfunding, we tell business owners that government will not be an additional barrier to fulfilling their American dream in our communities,” continued Powell.
HB 312 will allow businesses in Ohio to raise up to $5 million per year through intrastate equity crowdfunding. Ohioans will be able to invest in Ohio businesses, and Ohio businesses will have a more efficient option for raising capital through crowdfunding.
As always, if you have any questions about this or any other state government concern, please reach out to our office at 614-466-8114 or Rep80@ohiohouse.gov.