Startup businesses in Pennsylvania have a new resource to help guide them in obtaining funding.
The Department of Banking and Securities has added a section to its “Entrepreneur Education” page on http://www.dobs.state.pa.us%20that provides guidelines for raising capital in compliance with the Pennsylvania Securities Act of 1972.
“It’s a good idea for people to educate themselves,” department attorney Jeff Soderstedt told Lehigh Valley Business. “We see a demand.”
“Entrepreneur Education” addresses several key issues business owners must address if they are going to raise capital by offering securities, including:
• How to raise capital for your business.
• Disclosure and your securities offering.
• Registering your securities offering.
• Information on exemptions to the Pennsylvania Securities Act of 1972.
Soderstedt said that while hiring an attorney with a focus on securities law is always a good idea for a new business looking to raise capital, the website will provide extensive background so an entrepreneur will be able to ask the right questions and have a basic understanding of securities law.
“This will help people avoid any violations,” he said.
The site also offers general advice to help businesses get started.
“People tend to be more willing to invest in a company that has a clear focus on its objectives and how it will achieve them,” said state Secretary of Banking and Securities Glenn E. Moyer. “The new ‘Entrepreneur Education’ section of our website was developed by our professional staff to help businesses achieve that focus.”