At BizSkills For Good Inc., we are committed to supporting underrepresented professionals—those belonging to demographic groups that have historically faced barriers to equal representation and opportunity in the professional world. These groups include racial and ethnic minorities, individuals with disabilities, the LGBTQ+ community, and other marginalized populations.
Our mission is to collaborate and build an ecosystem of support around them so that we can provide these professionals with the resources, mentorship, and opportunities they need to succeed, including the exciting new potential to acquire businesses.
OSC's New Initiatives: A Game Changer
The Ontario Securities Commission (OSC) has introduced three pilot programs aimed at easing the process for startups to raise money. These initiatives could be a game changer for underrepresented professionals looking to acquire businesses. Here's how:
Dealer Registration Exemption:
Small businesses raising up to $3 million are exempt from registering as dealers with the OSC until October 25, 2025. This exemption reduces the compliance burden, making it easier for underrepresented professionals to secure funding for business acquisitions.
Expanded Accredited Investor Criteria which Differs from the Previous Accredited Investors' Criteria of High Networthy Individuals:
The OSC's self-certified investor pilot program expands the definition of accredited investors beyond wealth thresholds to include individuals with relevant educational or professional experience. This change allows professionals with advanced degrees or significant operational experience to invest up to $30,000 annually as accredited investors, opening new pathways for those looking to fund business acquisitions.
Support for Angel Investor Groups:
Not-for-profit angel investor groups are also exempt from dealer registration. This allows them to include self-certified investors and charge fees for services, which enhances their sustainability and ability to support diverse entrepreneurs, including those seeking to acquire existing businesses.
Empowering Business Acquisitions for Underrepresented Professionals
These initiatives present a unique opportunity for underrepresented professionals who manage to get support and guidance from BizSkills For Good Inc. Here’s how they can help in acquiring businesses:
Broadening the Investor Base:
The self-certified investor program enables professionals with relevant experience to become investors. This means that underrepresented professionals can connect with investors who understand their unique challenges and are more likely to support their acquisition goals because mainstream investors don't always understand or empathize with the business opportunities envisioned by underrepresented groups and community members.
furthermore, this means that underrepresented groups and community members can leverage more investments from both new investors who understand their challenges and opportunities as well as existing accredited angel investment groups who would have traditionally not invested in them.
Supporting Our Mission
At BizSkills For Good Inc., we define a professional as someone with specialized knowledge and skills, often certified or educated in their field. This includes healthcare professionals, legal professionals, engineers, financial experts, educators, software developers, architects, environmental specialists, and more.
The OSC's initiatives align with our mission by creating a more inclusive investment landscape, giving our community members better access to the resources they need to thrive, especially in acquiring businesses.
Looking Forward
The OSC TestLab will monitor these initiatives over the next 18 months, gathering data to inform future policies. This pilot period is a crucial time for underrepresented professionals to take advantage of these opportunities and demonstrate their potential in the business acquisition space.
Conclusion
The OSC's new initiatives are a significant step toward creating a more inclusive and supportive environment for startups and business acquisitions. At BizSkills For Good Inc., we are excited about these changes and the opportunities they bring for underrepresented professionals. By leveraging these initiatives, we can help level the playing field and foster entrepreneurial success for all, especially those looking to acquire businesses.
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