Congressman Patrick McHenry: The Future Crowdfunding

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Friday, Congressman Patrick McHenry gave a keynote speech at the Crowdfund Global Expo in San Diego. He came from a family of business owners, and now, his work in crowdfunding and for small businesses is paving the way for entrepreneurs.

“You know that getting capital is tough, even if you have great relationships. I was the youngest of five kids and saw my dad turn his idea into a business, so it was important for my family, putting kids into college and living the American dream.”

McHenry has always had an economic vision of how impactful small businesses can be, a view he carried into legislation. Especially with all the current SEC happenings and the JOBS Act, he believes success is truly coming for this industry.

“I have some thoughts on the SEC proposal, and I think it’s important that they listen to those in crowdfunding.”

On that note, the congressman gave a call-to-action, urging those of us in the industry to give our input now, explaining how important capital is.

“We’re at a very unique moment with the JOBS Act, so let’s get it as right as we can make it,” he said. “You all have unique voices that can truly make a difference.”

To give even more insight into how important this time is for crowdfunding, McHenry spoke about his recent trip to the World Economic Forum. He said that the U.S. is an example to the world, especially in capital markets.

“When it comes to equity crowdfunding, though, we’re not the trailblazers. That’s why it’s important to move forward and get our rules solidified.”

The speech was wrapped up with his future vision for the industry. Once the current problems are corrected by the SEC, he believes we would see a vibrant marketplace, where entrepreneurs have the opportunity to get the equity crowdfunding they need.

“We will also see a lot of new jobs created and a lot of folks putting their money into things they know and love, where they can have ownership,” he said. “Collaboration is important.”

And on that note…We hope you all had an amazing time at the expo, and we’re looking forward to all the big changesthat lie ahead!