Gunster attorney David Scileppi was a member of a panel discussing crowdfunding, the hot new way entrepreneurs are quickly raising funds online for their businesses.
The event was hosted by the South Florida Business Journal, and sponsored by Gunster and SunTrust. SFBJ Editor-in-Chief Al Lewis moderated the April 10 panel.
According to the Business Journal article about the event, a few panelists mentioned that crowdfunding is easier for a startup to get than a bank loan. However, another panelist noted, just because there’s money behind your business is no guarantee of success.
Planning ahead and getting others involved early is key to a startup’s crowdfunding effort, several panelists advised. This includes expected financial backers, attorneys, bankers and accountants.
There are different types of fundraising entrepreneurs should consider, Scileppi pointed out at the event: Equity crowdfunding (which comes with its own set of complications), credited crowdfunding and even good old secured lending.
Scileppi is a shareholder in Gunster’s Fort Lauderdale office. He co-chairs the firm’s securities and corporate governance law practice, and focuses his work in the areas of securities, corporate governance, mergers and acquisitions, banking and financial services, and general corporate law.
The other event panelists were Kabeer Arora (Kabaccha Shoes), Jeff Nager (SunTrust Bank), Alex Rodriguez (Urban Drones), Heather Schwarz-Lopes (EarlyShares.com), Dawn Sole (Creatively Convenient), Gustavo Viera (Gustavo Viera, CPA) and Linda Worton Jackson (Salazar Jackson).
Read the article: Experts discuss what works – and what doesn’t – with crowdfunding (South Florida Business Journal, 4/24/15)