West Michigan’s political, financial, and social environments are seen by many as conservative and slow moving. Shedding light on the intricacies of doing business in the region and the difficulties entrepreneurs face while navigating this business environment, John Kerschen, Managing Director of the Michigan Accelerator Fund, shared some insights on the situation. He has spent over 22 years working with early-stage investments, commercial banking, mergers and acquisitions, and investment banking.
In the Senate version, crowds looking to fund new business ideas will have to do so through approved portals, many of which have been been gearing up to funnel cash into new companies once this law is fully passed. Companies can receive up to $1 million in funding from the crowd, with the amount each person can give being capped based on their income. The limits range between $2,000 and $10,000 dollars.
As entrepreneurs begin to explore funding options, Grand Angels provides an application process for potential investments. The Grand Angels group is dedicated to finding appropriate businesses that will cultivate the local market. Mentoring from experienced professionals and a relatively patient exit strategy make Grand Angels a standalone between all regional investment groups.Founders Charles C. Stoddard and Craig T. Hall, combined their banking and entrepreneurial experiences to establish the angel investor group with a vision to make “investments with a difference.” Community leaders were recruited to join the investing group, and in 2005, Jody Vanderwel was named president of the organization. Grand Angels now has over 30 active members with professional experience in an array of industries.