> Currently only the privileged can found and fund new companies.
What? It's about $200 in Seattle to file to register a Limited Liability Company. It's a stretch to call that 'only the privileged'.
What? It's about $200 in Seattle to file to register a Limited Liability Company. It's a stretch to call that 'only the privileged'.
"fund" just means putting some money into a bank account for it. you could fund a company with a dollar (and many people do, for symbolic reasons).
Connotations matter.
believe me when i tell you a huge, huge number of wantrapreneurs never even get around to organizing an LLC and opening a bank account.
want to know why? it takes at least 10 hours of work and when faced with doing 10 hours of actual fucking work, most people won't.
Now, if you're trying to do something really risky like make a smartphone app, no, you're probably not going to get anywhere with the SBA. They aren't VCs making bets on long-shots. But they are more willing than a bank to work with you and help you get set up.
[1] http://www.sec.gov/info/smallbus/secg/accredited-investor-ne...