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Economy

Michigan's new crowdfunding for equity law will help start-up businesses

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There's no arguing the fact that startups are a key to a thriving economy. Between 1980 to 2005, for example, nearly all net job creation in the U.S. came from companies less than five years old.

But what does that start-up need before it gets up and running, creating jobs, selling products, paying taxes? It needs capital. And getting that initial dose of money can be a tough challenge for a small business.

That's why there's growing excitement over Michigan's new crowdfunding law. It's called the Michigan Invests Locally Exemption – "MILE."

Let's find out what this new law means for Michigan start-ups and for your opportunities to invest in small businesses.

Sandra Cochrane is a consultant with the Michigan Small Business Development Center, and she joined us today.

Listen to the full interview above.

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