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    Entries in startups (2)

    Tuesday
    Dec272016

    A Budgeting Break for Small (and Big) Governments

    With less people and money, small towns are prone to making big and expensive errors. One company wants to change that.
    BY  DECEMBER 27, 2016

    Small towns and districts know all too well about limited resources. Their departments are made up of just a few employees; they have almost no support staff; and they can't afford fancy software that might help speed things along.

    For finance directors, this makes budgeting a difficult and time-consuming task. In most less-populated places, the process is stuck in the 20th century: Budgets are created on Microsoft Excel, and directors are expected to consolidate versions between different departments.

    At best, it’s arduous work. At worst, it leaves a lot of opportunities for errors.

    Click to read more ...

    Thursday
    Dec152016

    Startups Seek to Democratize the Muni Market

    They're bringing in new investors, big and small, to disperse the power and lower interest rates. It's already paying off for some governments.
    BY  DECEMBER 15, 2016

    For all the post-recession financial market reforms, few ultimately made their way to the municipal bond market. For the most part, the muni market remains a low-tech place by Wall Street standards, and one that's still largely controlled by the same group of big investors.

    "The muni market has a lot to do with relationships, power and influence," said Rob Novembre, a former trader who has spearheaded a new alternative bond trading system. "The bigger you are as an account, the more attention you get from sellers. If you buy bigger blocks [of bonds], that gets you more power."

    Thanks to Novembre's new startup and another in San Francisco, though, that's starting to change. The two companies are not only set to give the market a tech update but also to bring it more buyers. The idea is that more buyers will increase demand for municipal bonds and, in turn, will net governments lower interest rates on their debt.

    Click to read more ...