Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ agribusiness get dedicated crowdfunding platform

NZ agribusiness get dedicated crowdfunding platform

Feb. 5 (BusinessDesk) – New Zealand agribusinesses looking for investors will be able to turn to crowdfunding once new legislation comes into effect in April.

The agribusiness-focused crowdfunding platform, Snowball Effect, is the first of its kind in New Zealand, and intends to give small to medium sized businesses access through their website to funding from investors looking for equity.

Snowball Effect’s launch coincides with the new regulations and is the brainchild of Fonterra Cooperative Group executives Richard Allen, Simeon Burnett and Francis Reid. They appointed 26-year-old Josh Daniell to be the company’s business development manager to oversee daily operations.

An alternative to listing on the stock exchange, the crowd funding platform is a cheap way for agribusiness entrepreneurs to raise funds from the public. New legislation, the Financial Markets Conduct Act, allows for businesses to crowdfund and offer equity, where previously raising money from the public with the promise of a return would have required the issuing of a prospectus and other costs associated.

The Act represents a total rewrite of financial market conduct rules, simultaneously seeking to tighten investor protections while removing barriers and costs of raising capital for businesses seeking to grow.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news