CompTIA Recommends Easing Equity Access for Small Businesses at Senate Committee Hearing
Washington, D.C., December 1, 2011 – Today CompTIA provided testimony for the hearing “Spurring Job Growth through Capital Formation While Protecting Investors” before the Senate Committee on Banking, Housing, and Urban Affairs. The following statement can be attributed to Todd Thibodeaux, CompTIA president and chief executive officer.
“For some time, CompTIA has been calling on Congress and the Obama Administration to advance technology progress and job creation by providing small businesses and entrepreneurs greater access to growth capital.
“Because of strict, complicated, and costly equity investment regulations and requirements, most small businesses have been effectively cut off from raising equity investments for their businesses.
“We urge Congress to take three steps to benefit small businesses in dire need of equity capital. First, increase the ability of small businesses to raise equity capital through crowdfunding. Second, reduce the filing and compliance burdens for certain small businesses that seek to raise capital through a public offering of stock. Finally, allow companies to use the Internet to promote their offerings. With proper safeguards, it is no longer rational to bar issuers from employing the Internet in developing and promoting their offerings.
“Easing restrictions on companies making equity offerings will aid small IT firms seeking to raise capital. Increasing access to equity capital will help these companies create jobs, produce commercial and technological innovations, and spur long-term economic growth. These changes will be a win-win situation for investors, small businesses, unemployed citizens and our national economy.”
CompTIA is the voice of the world’s information technology (IT) industry. As a non-profit trade association advancing the global interests of IT professionals and companies, CompTIA is the recognized authority for IT education and credentials and the primary advocate for IT businesses and workers. Through its foundation, CompTIA also enables disadvantaged populations to gain the skills they need for employment in the IT industry. CompTIA’s vision of the IT landscape is shaped by more than 25 years of global perspective and more than 2,000 members and 1,000 business partners. For more information, visit www.comptia.org or follow CompTIA on Twitter at http://www.twitter.com/comptia.
CompTIA’s Public Advocacy group focuses on a broad array of issues affecting the IT industry, with particular emphasis on representing the interests of small and mid-sized IT companies and entrepreneurs. Areas of focus include workforce education and training, tax matters, access to capital, health IT, export promotion, procurement, cybersecurity and smart technologies.
The Harbour Group
Director, Corporate Communications