Press Releases

Week Ahead for the House Small Business Committee: January 13-17

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Washington, January 10, 2014 | comments

Committee to Hold Hearings on Challenges to the Growing Peer-to-Peer Business Model, Recent Proposed SEC Crowdfunding Rule

WASHINGTON, DC – The House Small Business Committee, chaired by Rep. Sam Graves (R-MO), today announced the schedule for the week of January 13, 2014:

On Wednesday, January 15, at 1:00 p.m., the Committee will conduct a hearing titled, The Power of Connection: Peer-to-Peer Businesses. A peer-to-peer business (P2P business) typically creates a platform which acts as a conduit between buyers and sellers or entrepreneurs and consumers. The hearing will focus on the rise of this distinctive business model, its ability to create or advance the development of microentrepreneurs and small businesses, and the macroeconomic effects of P2P businesses. 

“The P2P business model creates new marketplace opportunities by utilizing technology platforms to connect individuals, which spurs entrepreneurship in new ways,” said Chairman Graves. “These innovative new platforms have potential to propel economic growth and reduce barriers to entry for individuals seeking ways to monetize their assets or skills. In an economy where jobs are still too scarce, these opportunities are exciting. We look forward to a great discussion about P2P businesses and the changing economy.”

On Thursday, January 16, at 10:00 a.m., the Small Business Subcommittee on Investigations, Oversight and Regulations, chaired by Rep. David Schweikert (R-AZ), will hold a hearing next week titled, SEC’s Crowdfunding Proposal: Will It Work for Small Businesses? The SEC’s recently issued proposed rule implementing Title III of the Jumpstart Our Business Startups (JOBS) Act of 2012 will place restrictions on crowdfunding investment and add new compliance requirements for both small businesses and the web portals that connect entrepreneurs and investors. The Subcommittee will receive testimony from industry leaders regarding how the proposed rule is expected to affect both the crowdfunding model and small businesses seeking to use it as a source of capital.     

“Small businesses remain our premier job creators; however, four years after the end of the recession, many small business owners continue to struggle to obtain the capital they need to grow and expand their business,” said Chairman Schweikert. “Crowdfunding can provide access to much-needed capital for small firms, but only if the rules are implemented in a way that makes it accessible. I look forward to hearing our witnesses discuss the expected impact of the proposed rule."

Watch the hearings live HERE.
Event Details
Wednesday, January 15, 2014, 1:00 p.m. EST
2360 Rayburn House Office Building
Small Business Committee
The Power of Connection: Peer-to-Peer Businesses
Thursday, January 16, 2014, 10:00 a.m. EST
2360 Rayburn House Office Building
Small Business Subcommittee on Investigations, Oversight and Regulations
SEC’s Crowdfunding Proposal: Will It Work for Small Businesses?


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