Are you allowed to fundraise for the purpose of starting up a business or is that like taking money for profit

Question

Are you allowed to fundraise for the purpose of starting up a business or is that like taking money for profit?

Answer 1

you can legally ask your family ,friends for money to start your business or if you have good credit you could apply for a loan to start it up asking and getting donations is not legal. to get or ask for donations you have to be a non profit organization and have 501c status from the state you live and work in..........

Answer 2

Governments answer to each concern is placed a tax on it and contained in the tip the electorate pay. i'm grateful that the organization I artwork for started a 401-ok and it has made me a believer in making an investment because of the fact Social risk-free practices is going to be broke earlier all of us comprehend it. we've 2 huge commercial parks on the brink of the place I stay and as speedy as they clean the land yet another employer strikes in and the quick foodstuff joints are continuously begging for help. I blame the government for our financial gadget going south because of the fact proper earlier the election one social gathering or the different starts off conversing approximately how undesirable the financial gadget is and in case you convince sufficient people and that they provide up spending then the financial gadget is going down and proper after the election it starts off to %. up. This time whether it is going to take some fancy foot artwork to get us out of this mess.

Answer 3

I think this is a question for an attorney. I believe there could be a "catch 22"' here. it appears as though it is taking money for profit. But I would think if it is for a non-profit organization it may not be. I am interested in knowing the answer to this question. very good question.

Answer 4

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Answer 5

It's called selling shares. Be aware of the Securities regulations in your area.

Answer 6

I believe its called selling shares

Answer 7

Totally illegal not to mention all of the other negative connotations.....