If Senator Scott Brown, Republican of Massachusetts, gets his way, legislation that allows for crowdfunding may provide a source of new capital for fledgling new and small businesses. Under crowdfunding, a business can simply announce its funding needs via social media. Individuals can then use the Internet to invest up to $1,000 per person in exchange for a share of ownership.
I refer to this as democratizing Wall Street. Increasing broadband access and adoption allows the underserved to participate in funding and owning the next great innovative product. Broadband might just help reduce the cost companies are incurring from looking for investors.
I hope Senator Brown can get the rest of the Senate on board.