はた坊のブログ　　　家庭菜園を始めて20年目に(菜園に専念に)なりました

g-1/5の畑には　ばけつを大量においている

ばけつ　たらい　ポリタンク　などなど
大量にあるので　水は　合計で　864リッターくらい水をためている

雨がふると　水くみをして　水をためている

つまり　ため池だなあ

畑には　ためいけ　必要なり














小室 圭　　　　おべんきょうその039

論文
・Challenges and Implications for Potential Reforms of Crowdfunding Law for Social Enterprises


Introduction

Over the last few years, crowdfunding has become
a popular option for social entrepreneurs and investors.
Although it is one of the major ways to raise capital,
crowdfunding faces significant challenges, in particular
fraud and limitations of capital and funding portals.
These three challenges will be explored in this article,
and recommendations will be made to address them.
Crowdfunding is known as the aggregation of funds
from and the provision of capital by “an undifferentiated, unrestricted mass of individuals” or “the crowd”
via the internet.1 Generally, crowdfunding includes
donative crowdfunding, rewards-based crowdfunding
(pre-order crowdfunding or pre-sale crowdfunding),
debt-based crowdfunding, and equity-based crowdfunding.2 Crowdfunding volume grew rapidly from $1
billion in 2011 to $34 billion in 2015, and the volume is
expected to expand to $100 billion by 2025.3 As of 2015,
crowdfunding, in terms of funding volume, consisted
of 8% donation-based crowdfunding, 8% rewardsbased crowdfunding, 73% debt-based crowdfunding,
7% equity-based crowdfunding, and 4% other types of
crowdfunding.4
One of the major rules that has an impact on crowdfunding is Regulation Crowdfunding. In 2015, the
Securities and Exchange Commission (SEC) adopted
Regulation Crowdfunding to implement the requirements of Title III of the Jumpstart Our Business Startups
(JOBS) Act of 2012, which exempts crowdfunding from
registering with the SEC and allows companies to raise
capital under certain conditions, beginning in 2016.5 The
regulations restrict the capital amount that can be raised
in any 12-month period to $1 million.6 Investors also
have limitations; investors earning less than $107,000
annually may invest up to $2,200 or 5 percent of annual
income or net worth, and investors earning more than
$107,000 annually may invest up to 10 percent of annual
income or net worth.7 Offerings must occur through a
registered broker-dealer or through a funding portal and
can be advertised in only a “brief notice.”8

A. Social Enterprise and Crowdfunding:
Why Social Enterprises


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