In this episode, Capital Insight co-hosts and securities attorneys Jenny Kassan and Michelle Thimesch discuss what community economic development is, how it can be done effectively, and the role of small business finance in a successful community economic development program.
“The minute we put public dollars into promoting [venture capital models], that’s taking money away from the 99.9% of businesses that are not VC-backable tech startups, that really need more resources just to survive, and that give so much back to the community: they create more jobs, they are more philanthropic, and they create that unique quality of life that keeps you from being a town where the only places to go are Wendy’s or Walmart.”
“I’m seeing an uptick in interest in doing things like locally branded funding platforms.that work in the community to educate. We have to remember that for the past 80+ years, it’s been really difficult for regular retail investors to participate in the small business and startup finance ecosystem…that’s what crowdfunding does in a really beautiful way.”
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Intro and outro are voiced by Marina Verlaine. She can be contacted at firstname.lastname@example.org