North Charlotte Today

Senator Thom Tillis and his colleagues have reintroduced the Helping Angels Lead Our Startups (HALOS) Act, a bipartisan legislation aimed at supporting startups and small businesses by removing burdensome regulations and facilitating investments. The Act seeks to ensure that individuals interested in investing in startups are not deterred by unnecessary regulatory requirements, while allowing startups to secure the funding they need to grow and create jobs.

According to Senator Tillis, "Small business investors play a crucial role in allowing start-ups to grow and create more jobs, but too often face unnecessary regulatory requirements that deter investment." He believes that the HALOS Act will address these challenges and promote economic growth by removing burdensome regulations. The Act aims to create an environment that encourages investment in small businesses and fosters their expansion.

One common practice for startups to secure capital and attract investors is by participating in "demo days" or conferences where they can showcase their business models to potential investors, including angel investors. However, these demo days have faced regulatory challenges that hinder the ability of startups to present their ideas and secure investments.

The HALOS Act seeks to address this issue by codifying provisions that were previously finalized in SEC rules. By doing so, the Act aims to ensure that startups can continue to present at demo days without facing onerous regulations. It aims to preserve the investor vetting process that angel investors have been using at demo days for years. This bipartisan legislation aims to enable startups to receive the necessary investments to grow their businesses and create new job opportunities.

The reintroduction of the HALOS Act reflects the commitment of Senator Tillis and his colleagues to support and promote the growth of startups and small businesses. By removing regulatory barriers and providing a conducive environment for investment, this legislation aims to stimulate economic growth and job creation.

The HALOS Act has the potential to provide much-needed support for startups and small businesses, allowing them to access the capital they need to thrive. As the economy continues to recover and rebuild in the post-pandemic era, such legislation becomes even more critical in fostering innovation, entrepreneurship, and job creation.

In conclusion, the reintroduction of the HALOS Act by Senator Thom Tillis and his colleagues underscores their commitment to supporting startups and small businesses. By removing burdensome regulations and facilitating investments, this bipartisan legislation aims to create an environment that encourages economic growth and job creation. The Act seeks to enable startups to secure the funding they need to expand their businesses and create new opportunities for employment.

For additional details, please follow this link: https://www.tillis.senate.gov/2023/11/tillis-colleagues-reintroduce-bipartisan-legislation-to-support-startups-small-businesses