In advance of the NC Chamber’s 2016 Future of North Carolina Forum conference on December 6, Partner Benji Jones sat down with the Chamber to discuss the new NC PACES act, which allows local businesses in North Carolina to seek small investments from the public using crowdfunding.
Describing NC PACES as a pathway for small businesses and entrepreneurs to access capital in a way they never have before, Benji said that while many states are adopting this kind of legislation, North Carolina’s path is unique. “Our statute is flexible, it is designed in a way that’s going to work,” she explained. “We need rules from the regulators that will determine how it will work and those are expected at the beginning of 2017. I’m excited about what this can bring for North Carolina Businesses.”
Benji explained that Smith Anderson helped to design the structure of the statute with an emphasis on maintaining the flexibility that makes the legislation unique from that of other states.
When asked why NC PACES is good for North Carolina, Benji responded that this legislation demonstrates what we can do as a community by bringing small businesses and the people they serve together. “It’s all about tapping into a business person’s passion and discovering a person in their community who shares that passion. I think it’s going to be a game changer for small and large communities alike no matter where you are—whether in eastern or western North Carolina, rural or urban—you can take advantage of this.”
A recording of the live interview is available for viewing below. If you are having trouble viewing the video, it is also available on Vimeo.