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Published October 25, 2018
A weekly look at business solutions from the Wyoming Small Business Development Center (SBDC) Network, a collection of business assistance programs at the University of Wyoming.
By Justin Farley, regional director, Wyoming SBDC Network
Wyoming Invests Now (WIN) is a new funding opportunity for businesses that also allows residents to become part-owners of companies in the state. Prior to WIN, there was no system in place to allow non-accredited investors to buy shares in Wyoming companies or for companies to generate private equity investments from citizens.
In the past, individuals wanting to participate in private equity investments had to be a nationally accredited investor with a net worth of at least $1 million or an individual income of at least $200,000 per year. For a company to sell shares without using the WIN program, they would need to get an Initial Public Offering (IPO), thus becoming a publicly-traded and owned entity. WIN breaks through these barriers for Wyoming businesses and investors.
To participate in WIN, businesses must receive approval through the Wyoming Secretary of State’s Office. Participating companies will offer shares in their company to generate up to $4 million in capital to be used for expansion or acquisition, which adds jobs and increased economic impact to the state. Individuals would then be able to invest a minimum of $10,000 toward the approved companies after proving Wyoming residency at createwyoming.com.
If you are interested in pursuing this funding opportunity for your business, the Wyoming SBDC Network can help you develop a business plan proposal and obtain market research for your WIN application. You can contact your local adviser for confidential, no-cost assistance by visiting www.wyomingsbdc.org.
The Wyoming SBDC Network offers an enormous amount of business expertise to help Wyoming entrepreneurs think about, launch, grow, reinvent or exit their business. The Wyoming SBDC Network is hosted by UW with state funds from the Wyoming Business Council and is funded, in part, through a cooperative agreement with the U.S. Small Business Administration.