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

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news