Albanese government considering ‘changing the rules’ over wholesale investors

The Albanese government is considering “changing the rules” over who can be considered a wholesale investor, according to Sky News Business Editor Ross Greenwood. “For years, small business, investment funds, and even ASX-listed companies have tapped ‘angel investors’ to help fund their ideas,” Mr Greenwood said. “To get around owner’s rules, when anybody sells investments to retail investors, these schemes could only sell to wholesale investors. “But the government’s now considering changing the rules about who’s considered a wholesale investor with greater assets and income likely to make it harder to qualify. “Now that troubles those who think start-up businesses and investment funds should be open to more people – not fewer.” Mr Greenwood is joined by former Qld chief entrepreneur Steve Baxter to discuss the government’s potential changes and what it could mean for Australian business.