Sask. businesses now able to raise capital from Alta. investors through crowdfunding
Sask. business crowdfunding must be done online but doesn't need to be operated by registered dealer
While the provinces of Saskatchewan and Alberta bicker over licence plates and public construction work zones, the two have made it a little easier for businesses to raise some cash.
The provinces are now allowing businesses in either province to raise money through crowdfunding ventures from investors in either province.
Meaning if you're looking to start up a business in Sask., you can now receive Alberta money to do it and vice versa thanks to newly amended government regulations surrounding how businesses can raise capital through crowdfunding.
"Given the geographical proximity, and similarities in industries, it makes sense for us to co-ordinate our efforts to facilitate cross-border financings with our neighbouring provinces," Roger Sobotkiewicz, CEO of the Financial and Consumer Affairs Authority, said in a news release.
Businesses looking for money in Alta. will have to do so through a registered dealer, however.
Sask. businesses have to crowdfund online but there is no requirement whichever platform is used to crowdfund be operated by a registered dealer.