How equity crowdfunding could open new opportunities for traditional media
Equity crowdfunding campaigns could revolutionise Australia’s traditional media landscape, but up until now it’s been nothing but a waiting game, as Community Newspaper Group’s Guy Turner explains.
Over the past three years I have been closely following the progression of the equity crowdfunding (CSF) discussion in Australia.
It took until May 2014 for CAMAC (now dissolved) to release its first report, incidentally a month after New Zealand implemented regulations to allow CSF in its market.
The 2015 Federal budget set aside money for ASIC to administer the rollout, which was then scheduled for late 2015. Roll around to March 2017 and the Corporations Amendment (crowd-sourced funding) Bill 2016 was finally passed, with the legislation expected to enable transactions from 28 September 2017.
Globally, equity (and debt) crowdfunding options are a way for businesses to raise funds for growth from a combination of ‘sophisticated’ and ‘unsophisticated’ investors.
