CROWD SOURCING NEW WAVE FOR COMPANIES

Written on the 4 July 2014 by Nick Nichols

CROWD SOURCING NEW WAVE FOR COMPANIES THE Australian Small Scale Offerings Board (ASSOB) has launched what it describes as a “crowd sourcing” initiative to help fledgling companies raise capital.

CEO Paul Niederer says the term shouldn’t be confused with crowd funding, where groups of people come together to capitalise a new idea or venture.

Under its new initiative, the Gold Coast-based ASSOB says will take a regional approach across Australia to assist companies in raising capital through the establishement of local funding hubs.

Niederer says the hubs offer an opportunity for “key influencers” in regional centres to contribute to economic growth and more jobs in their local area.

He says the proposal will link ASSOB to the likes of chambers of commerce, regional incubators and regional development boards that are willing to put up their hand to establish a local funding hub.

“The new regional funding hubs network being planned is designed to connect small to medium enterprises raising funds with a broader cross-section of the community,” he says.

“A regional funding hub connects local businesses and entrepreneurs wishing to raise capital with the backing of a proven capital raising platform and process.

“Since the GFC funding has been a high priority for many SMEs, and the regional funding hubs and ASSOB’s capital raising platform will assist businesses in structuring themselves to be attractive to investors.

“Regional funding hubs work with local government and local communities to locate businesses in need of capital, and will focus attention on the importance of funders, including banks, to support them.”

Niederer says ASSOB is the longest running equity funding platform in the world and has raised more than $138 million for more than 300 SMEs in recent years.

The group currently has 26,000 subscribers who are updtated regularly on new equity offers.

The ASSOB platform was highlighted as a success in the World Bank’s 2013 report on crowdfunding.

“Businesses trust their local support organisations and often equity funding comes from contacts at a local level,” Niederer says.

“SMEs seeking capital through their regional funding hub will also have access to ASSOB’s increasing international connections.

“This will add another layer of client access on top of our existing network of accredited ASSOB sponsors.”



Author: Nick Nichols

Latest News

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property managemen...

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

RARE GOOD NEWS FOR SLATER AND GORDON AS ASIC CLOSES INVESTIGATION

ASIC has cleared Slater and Gordon of deliberately falsifying its accounts after a three-month investigation.

It s...

Q & A WITH FACEBOOK GURU ANDY MCKEON AS HE JOINS AUSTRALIAN SOFTWARE COMPANY LIVETILES

HE was creative director at Apple under the legendary Steve Jobs, and is now a senior Facebook executive. In his n...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter