Regulation A+ Sebagai Alternatif Penghimpun Dana Untuk UMKM Dan Start-Up
DOI:
Abstract Views:
266 times
PDF Downloads:
228 times
Abstract
Capital is a problem that is often faced by start-up companies and Micro, Small and Medium Enterprises (MSMEs). On the other hand, these activities are often the choice of Indonesia's lower and middle class as an effort to improve their economy. For this reason, the Government through the Financial Services Authority (OJK) provides steps to raise capital through a crowdfunding method using information technology (equity crowdfunding / ECF). ECF activities are a solution for start-ups and MSMEs to raise capital in ways that are almost similar to Initial Public Offering (IPO) activities by involving publishers, organizers, and investors. Unfortunately, even though it has been going on since 2018, business activities using the ECF as a real effort to provide additional capital have not been maximally implemented. This is because there are several records that can hinder the optimization of the ECF itself, such as the Investors criteria, shares Flexibility, and maximum securities ownership.
This research is normative legal research using a conceptual approach, a statutory approach, and a comparative approach and the development of ECF regulations in Indonesia and reformation on investor limitation law in the ECF in Indonesia as research problems.
The results of this study indicate that the application and regulation of the ECF in Indonesia still have various deficiencies. Therefore, a solution is needed by adopting several provisions in Regulation A + in America as an effort to overcome these deficiencies.
Downloads
References
Anthony, L. (2017, Januari). Regulation A+ IPO or The Mini-IPO; Remarkably Effective and Widely Misunderstood. Whitepaper, p. 2.
Association, N. V. (2011). Venture Impact: Economic Importance of Venture Capital-Backed Companies to the US Economy 3 (6 ed.).
Cunningham, W. M. (2012). The Jobs Act: Crowdfunding for Small Businesses and Startups. New York: Apress.
Dr. Mas Rahmah, S. M. (2019). Hukum Pasar Modal. Jakarta: Kencana.
Guzik, S. (2014). Regulation A+ Offerings-A New Era at the SEC.
Higgins, K. (2014). The Changing Regulatory Landscape for Angel Investing. Harvard Law School Forum on Corporate Government.
Iswi Hariyani, Cita Yustisia. (2019). Kajian Hukum Bisnis Jasa Crowdfunding Properti. Legislasi Indonesia, 16(1), 45.
Jr, R. B. (2017). The Case for Federal Pre-Emption of State Blue Sky Laws. In R. B. Jr, Prosperity Unleashed: Smarter Financial Regulation (p. 84). Washington: The Heritage Foundation.
Kane, T. (2010). The Importance of Startups in Job Creation and Job Destruction. Kansas City: Ewing Marion Kauffman Foundation.
Knight, J. H., & Lay, W. N. (n.d.). Faqs About Regulation A+ Securities Offerings. Washington DC.
Knyazeva, A. (2016). Regulation A+: What Do We Know So Far? 1.
Lestari, E., & Raja, W. R. (2020). Analisis Modal Kerja Pada UMKM (Usaha Mikro Kecil dan Menengah) dalam Meningkatkan Laba Usaha. Optima, 3, 24. doi:10.33366/optima.v3i2.1755
Lukito, I. (2017, November). Tantangan Hukum dan Peran Pemerintah Dalam Pembangunan E-Commerce. JIKH, 11, 351.
Marzuki, P. M. (2010). Penelitian Hukum (sixth ed.). Jakarta, Indonesia: Rencana Prenada Media Group.
Newman, N. (2018). Regulation A+: New and Improved After the JOBS Act or Failed Revival. Virginia Law & Business Review, 12, 245.
Nigel Savage, R. B. (1993). Business Law. London: Butterworth.
Nir Vulkan, Thomas Astebro, Manuel Fernandez Sierra. (2016). Equity Crowdfunding: A New Phenomena. Journal of Business Venturing Insights, 37.
Office, U. G. (2012). Securities Regulation: Factors That May Affect Trends in Regulation A Offerings.
Panourgias, L. E. (2006). Banking Regulation and World Trade Law: GATS, EU and 'Prudential' Intitution Building. Portland: Hart .
Rusdin. (2006). Pasar Modal: Teori, Masalah, dan Kebijakan Dalam Praktik. Bandung: Alfabeta.
Suci, Y. R. (2017, Januari). Perkembangan UMKM (Usaha Mikro Kecil dan Menengah) di Indonesia. Cano Ekonomos, 6, 57.
Sugiono. (2015). Analisis Penyediaan dan Penggunaan Modal Kerja UMKM (Usaha Mikro, Kecil dan Menengah) dalam Meningkatkan Laba Usaha pada KUB (Kelompok Usaha Besama) Alam Lestari Depok. Prosiding Semiar Nasional Pendidikan Ekonomi & Bisnis Fakultas keguruan dan ilmu Pendidikan Universitas Sebelas Maret Surakarta. 5.
Usanti, T. P., & Thalib, P. (2016, May). Asas Ikhtiyati Pada Akda Pembiayaan Mudharabah Di Lingkungan Perbankan Syariah. Yuridika, 31, 311. doi:10.20473/ydk.v31i2.5190
Warren, D. M. (2011). Venture Capital Investment: Status and Trends.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
All articles published in YUSTIKA are licensed under a Creative Commons Attribution-ShareAlike 4.0 International (CC BY-SA) license. This means anyone is free to copy, transform, or redistribute articles for any lawful purpose in any medium, provided they give appropriate attribution to the original author(s) and YUSTIKA, link to the license, indicate if changes were made, and redistribute any derivative work under the same license.
Copyright on articles is retained by the respective author(s), without restrictions. A non-exclusive license is granted to YUSTIKA to publish the article and identify itself as its original publisher, along with the commercial right to include the article in a hardcopy issue for sale to libraries and individuals.
Although the conditions of the CC BY-SA license don't apply to authors (as the copyright holder of your article, you have no restrictions on your rights), by submitting to YUSTIKA, authors recognize the rights of readers, and must grant any third party the right to use their article to the extent provided by the license.
.jpg)
