Crowdfunding Crosses the $2 Billion Mark
V.2, N.31
Recently, Crowdfund Capital Advisors, which tracks data on the burgeoning investment crowdfunding marketplace, announced that the industry has surpassed the $2 billion mark in collectively raised funds. That’s definitely worth breaking out the champagne for. So are these additional revelations:
Over 6,400 companies have filed to raise funds, conducting an astonishing 7,400 offerings with an unprecedented 69% success rate.
Nearly 600 industry types — from software to personal services, media to restaurants, and everything in between — have benefited from crowdfunding.
Crowdfunded businesses have created over 400,000 jobs and injected $5 billion into local economies.
In our last issue, we started making it easier for YOU to find the right opportunity for your money and community. With this issue, we offer 20 new options. And if that’s not enough, click on the “View Comprehensive List” button below, and you’ll be sent to our website. There, you can see a full roster of all available crowdfunding offerings and view them by category (like food or housing) and region. We will soon add listings from local investment funds as well. Whereas it took five years to hit the $1 billion crowdfunding investment mark and only another two years to hit $2 billion, your participation will get us to $3 billion in the flip of a bitcoin!
Also in this issue is an autumnal feast of other articles: how North Dakota’s public bank, which earned the state $192 million in 2022, has helped empower the state with the fastest-growing GDP per capita in the country; how recent successes in worker ownership plans were celebrated this Labor Day; and about how a new food co-op in Boston is shaking up the local markets and attracting consumers annoyed with corporate grocery store prices. Finally, Francophiles rejoice! Le Monde, the best paper in France, featured the need to shift from sustainability to regeneration (I’m one of two dozen co-signatories).
- Michael H. Shuman, Publisher
NEWS
Celebrating a Milestone: Investment Crowdfunding Soars Beyond $2 Billion, Crowdfund Capital Advisors (August 25)
Make More Employees Owners: A Bipartisan Idea to Support Workers and Communities, The Hill (September 4)
More Banks to Fail? Not in North Dakota, ScheerPost (August 31)
The Dorchester Food Co-op Is Here to Shake Up Boston’s Food Ecosystem, Next City (August 30)
Si Tout Le Monde Utilise Le Mot “Régénératif”, Le Risque Eset Qu’il Se Banalise Et Se Vide de Son Sens, Le Monde (August 26)
PARTNER VOICES
Revenue-Based Financing Is Friendly to Both Social Entrepreneurs and Impact Investors, Superpowers for Good (August 29)
Challenging Wealth Supremacy to Realize the Dream of Systemic Change, ImpactAlpha (September 6)
CDFIs Create Vibrant Communities Where Individuals Prosper, ImpactPHL (September 1)
Employee Ownership for Manufacturers, Project Equity (August 30)
Yes, You Can Still Invest In Diverse Entrepreneurs: Here’s How, Morgan Simon in Forbes (August 22)
NEW INVESTMENT OPPORTUNITIES
Below is our list of recently posted local investment opportunities across the United States. Please note that our listing of these opportunities is not an endorsement, and remember that all investments are risky, so click on the hyperlinks and read carefully all the details before investing.
EVENTS
Moose’s Corner: Innovations in Local Business Networks - Virtual Event. Join Michael Shuman (aka “the Moose”) and AMIBA for a monthly deep dive with the best local business networks in the United States. This month’s event—September 21, at 1 pm ET—focuses on People First Economy in Grand Rapids, Michigan.
SuperCrowdHour: How to Make Money With Impact Crowdfunding - Virtual Event. September 20, at 1 pm ET. Learn how to earn financial returns and not just make a difference with crowdfund investing. Register here.
Democratizing Monetary Issue: Tools for Resilience - Virtual Event. September 21, at 2 pm ET. Schumacher Center convenes a monthly series featuring New Economic thinkers, builders, and activists in various fields. Register here.
Planet Local Summit - In-Person and Virtual Event. September 29 - October 1. Connect with like-minded people (like Michael Shuman!) from five continents over a clear vision to change the world -- away from dependence on global monopolies and towards decentralized, regional economies. Register here.
Neighborhood Economics - In-Person Event. February 26-28, 2024. Event facilitating ongoing conversations across geographies that help people build economic architecture so everyone will thrive. Register here.
ICYMI
Encouraging Local Investment in a Global Game With Michael Shuman & Kaj Löfgren, Small Giants Academy
Place-Based Capital Program, Ethical Fields
JOBS BOARD
Common Future is hiring for a VP of Impact Initiatives and a Philanthropic Partnerships Director
Mission Driven Finance is hiring a Senior Director of Real Estate Asset Management, an Indigenous Futures Director, and a Construction Project Manager
Project Equity is hiring a Black Employee Ownership Initiative Program Manager
FREE SHORT VIDEOS ON LOCAL INVESTMENT
If you want short answers to your most pressing questions about local investment, we have prepared a series of 5-10-minute videos. Find them posted on our website under the “Local Investing Videos” page. Or click on the links below to be directed to videos based on the topic:
BECOME A MAIN STREET CHAMPION
Have you always wanted to start a local investment club? A website of local investment offerings in your community? A local investment study group? Whatever your interest or ambition, we invite you to “go public” to help others in your region find you, scheme with you, and start a local investment movement in your community. We aim to identify dozens, then hundreds, then thousands of Main Street Champions like you across America. We already have Main Street Champions across the U.S., from San Luis Obispo, CA, to Providence, RI, and even Australia! Together, we can move our hard-earned savings from Wall Street into our communities. Fill out the intake survey below to join this growing cohort!
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About The Main Street Journal
The Main Street Journal aims to catalyze the movement of $50 trillion from Wall Street to Main Street to facilitate economic development and economic justice. It’s sponsored by the National Coalition for Community Capital, with a grant from the Heron Foundation. We welcome feedback about everything, from our design to content. Also, we welcome suggestions of other groups to involve as partners and additional information to include. Please send ideas to Jen Risley at jen@main-street-journal.com.
PARTNERS
Abrams+Angell | American Independent Business Alliance | Candide Group | Community-Vision Solutions, Benefit LLC | Council Fire | Crowdfund Better | Cutting Edge Capital | Democracy Collaborative | Exit to Community Collective | Fair Food Network | Impact Finance Center | ImpactPHL | Initiative for Local Capital | The Kassan Group | Mission Driven Finance | National Coalition for Community Capital | Natural Investments | Neighborhood Associates | Neighborhood Economics | New Majority Capital |. Next Egg | Nonprofit Quarterly | Ownership America | Ownership Matters | Project Equity | Project for Public Spaces | Prospera Partners | Raise Green | Revalue | Schumacher Center for a New Economics | Shelterforce | Slow Money | SOCAP | Sun Valley Institute for Resilience | The Super Crowd Inc. | Transform Finance | Uwharrie Bank | Village Well | Zebras Unite
We welcome any nonprofit or for-profit committed to local investment as a partner. If your organization is interested, please contact Jen Risley at jen@main-street-journal.com.