In addition to starting his own company, Schubros Brewery, San Ramon resident Ian Schuster is also leading a group of small business leaders and entrepreneurs to bring in a new form of financing for local startups. The idea is called "crowdfunding" — which would allow new small businesses to sell equity to a broad shareholder base via the Internet.
Ian Schuster, who heads the newly formed Initial Crowd Offering Group (ICO) which is rallying support of the legislation, says the main concern opponents have is fraud. The worry is someone could set up an attractive website and con investors.
Schuster says the solution is to take advantage of resources from the Service Corps of Retired Executives (SCORE) and the Small Business Administration (SBA).