Invest in Vermont!
Thanks to the Department of Financial Regulation, Vermont now boasts the nation’s most progressive local investing regulations, making it easier for small businesses to raise much needed capital from their friends, families, customers and neighbors who want to invest in their local economy.
This was done through substantive revisions to the Vermont Small Business Offering regulation (“VSBO”). Today, Vermont businesses may decide to raise capital by either limiting their offering to only Vermonters or allowing both Vermonters and non-Vermonters alike to invest side-by-side.
Under VSBO, companies may seek up to $1,000,000 from an unlimited number of investors. Vermont Main Street investors may invest up to $10,000, a Vermont Certified Investor may invest up to $25,000 and accredited investors may invest an unlimited amount in these Vermont businesses. VSBO also makes it easier for Vermont businesses to use social media and the Internet to promote their offering.
According to Deputy Commissioner Michael Pieciak, the small business community is responding to these new regulations: “During the previous 14 years our state only had 14 local offerings; however, during the brief period since the regulations have been implemented we have already seen 7 such offerings. This is a very positive development for our small businesses and our local economy.”
If you are a business owner interested in VSBO, the Department encourages you to reach out to Noel Hudson, Director of Capital Markets at Noel.Hudson@vermont.gov.