Pennsylvania entrepreneurs will advertise fundraising efforts once more
July 31, 2013
When just starting out, small business owners often have to raise a lot of capital before they can even open their doors. After all, so many costs have to be met upfront - buying desks, computers, putting money down as rent for the office and so on. While these funds can come in the form of investments, loans or other financial options, many leaders decide to petition the public for donations.
This hasn't always been possible in Pennsylvania. According to the Pittsburgh Post-Gazette, it was illegal for entrepreneurs to market their fundraising efforts, but that is no longer be the case.
The Jumpstart Our Business Startups Act will go into effect in September and will be a good thing for small company owners, because it can get interested donors who didn't know about the campaign involved.
This is beneficial all around, especially because entrepreneurs tend to give back once they make it big. According to a study by Indiana University's Lilly Family School of Philanthropy for the Giving USA Foundation, corporate donations rose 9.9 percent in 2012 compared to the previous year.
Foundations and organizations that provide annual funding might benefit from nonprofit accounting software, which can help board members audit funds and make sure the correct amounts are being distributed to various programs each year.