Entrepreneur Frequently Asked Questions

What is a campaign? How do I create one?

Your campaign consists of all the materials you use to raise funds through crowdfunding. This includes an elevator pitch, video, company overview and financial, legal and business information. You can create a campaign easily at WorkforceSoftwareSolutions.com after you sign up. We guide you through the steps and give you a Personal Campaign Manager to help you.

How do I decide what my Target Raise should be?

The Target Raise is the amount of money you want to receive to either get your startup off the ground or to grow your existing company. You need to be realistic, both in terms of your strengths in networking and the ability to justify the amount in specific milestones you can achieve.

How do I determine the valuation of my company or startup?

Valuation is both an art and a science. This is often a tricky point for startups that have no revenue, but there are multiple methods that you can use to value a pre-revenue company. These range from analyzing the size of your target market and your company’s expected market share to calculating the present value of your future cash flows. Whatever method you end up using, just be sure you are able to justify your company’s valuation to potential investors.

How much money can I raise at WorkforceSoftwareSolutions?

If you are raising money through the Invest Georgia Exemption, you may raise up to $1 million. If you are going through Reg D ( accredited investors only), there is no limit to the amount you can raise. As always, we caution you to be realistic about the amount you need and feel you can raise through crowdfunding.

What are the fees for raising money at WorkforceSoftwareSolutions?

There is a one-time fee of $850 for companies raising capital through the IGE. This covers all of the due diligence that WorkforceSoftwareSolutions must do before listing your company. When the campaign closes, WorkforceSoftwareSolutions receives a percentage of the raise, based on the amount (4-6%).

What do I need to know before I get started on my campaign?

Before you create your campaign, you need to do your own homework. You should have articles of incorporation or organization, a business plan, a target raise number, a robust social network on Twitter, LinkedIn and Facebook and any financial and legal documents pertaining to your business. The more you plan ahead, the simpler it will be to get your campaign up and running quickly.

The forms look intimidating. Can I get any help filling them out?

You are raising capital and giving equity, which is serious business so the information you will need to provide needs to be accurate and comprehensive. That is why we assign a Personal Campaign Manager to each entrepreneur to help with this important step.

Can I conduct a crowdfunding campaign if my company is outside the United States?

If your company is outside the United States, it may still raise funds on WorkforceSoftwareSolutions from accredited investors through a Regulation D offering, as long as the SEC’s requirements are met. If your company is outside the United States, it cannot take advantage of the Invest Georgia Exemption ("IGE"). Keep in mind that WorkforceSoftwareSolutions does not offer legal advice, and nothing contained in this section should be construed as such. If you are a foreign issuer, you are strongly encouraged to consult a securities attorney regarding any U.S. offering.

Is the information I supply confidential?

Yes and no. The information contained in the Basics section of your campaign will be publicly available. However, sensitive information about your company and financials will only be released to registered WorkforceSoftwareSolutions investors who have signed a Non-Disclosure Agreement. Our site is SSL-encrypted so you can feel comfortable uploading documents for your business on our website.

How do I protect my great idea while crowdfunding?

One way to protect yourself is to have any intellectual property protected legally by a patent or trademark. This process can take some time, so you should get started before you begin your crowdfunding campaign.

Can any type of business create a crowdfunding campaign?

There are no restrictions on the type of business that can create an equity crowdfunding campaign. That said, certain types of businesses are more appealing to investors, depending on where their interests lie..

Who determines the amount of equity I should sell?

You do. Once you determine the valuation of your company, you should decide what percentage you are willing to give in exchange for the funding received. The generally accepted guideline is to keep at least 70% of your company yourself.

What happens if I don’t reach my target raise?

Currently, if you are using the IGE or Reg D to crowdfund on WorkforceSoftwareSolutions, you are allowed to keep what you raise as long as you state your intentions for the use of the money by giving your milestones.

Can I make any changes to my campaign once it goes live at WorkforceSoftwareSolutions?

No. Once your campaign goes live at WorkforceSoftwareSolutions, you cannot make ANY changes. That is why we encourage you to take the time you need to get all of your campaign details right before you go live.

Will investors be able to make decisions regarding my company?

That will be up to you. When you determine your equity shares, you can choose to give your investors voting rights or not.

How many investors am I allowed to have?

There is no limit to the number of investors you can have.

Can I set a minimum investment amount?

Yes. Be aware, however, that you are placing a restriction that could eliminate some potential investors from the pool.

What is involved in closing out a successful campaign? What will I need to do?

Closing out your campaign involves legal and financial details that can be complicated. WorkforceSoftwareSolutions will be there to assist you with this process.

What is the length of a crowdfunding campaign?

The length of a campaign is generally 90 days, but that can be flexible depending upon your target raise and other factors. You can discuss this with your Personal Campaign Manager.

Invest Georgia Exemption (IGE) For Entrepreneurs

How much capital can I raise for my company through the IGE?

The total amount raised cannot exceed $1 million, not including investments from controlling persons.

If I want to raise capital for my Georgia-based companythrough WorkforceSoftwareSolutions, what do I need to do?

WorkforceSoftwareSolutions provides companies with detailed information on how to crowdfund. Visit our How it Works section to get started. 

Where do the investor funds go and can WorkforceSoftwareSolutions access the funds invested?

The bank account will be in your company’s name, but WorkforceSoftwareSolutions will be a signatory on that account. We require a dual signature account solely for the purpose of facilitating the collection of our commission from the proceeds of your fundraising campaign. WorkforceSoftwareSolutions cannot and does not take custody of any of the funds raised. Further, WorkforceSoftwareSolutions cannot withdraw funds from this account without your authorization.

Why does WorkforceSoftwareSolutions want me to use a particular bank?

WorkforceSoftwareSolutions asks that each company open an account to receive investor funds at a particular bank and branch because the branch personnel are familiar with this type of account and already have a process in place for handling them. Not only will this save you time in establishing the account, but you will also have ongoing access to a knowledgeable representative who will be able to walk you through the process and answer any questions you may have regarding the account.