Gov. Scott Walker has signed a bill allowing crowdfunding for the online sale of stocks in fledgling companies.

The proposal Walker signed Thursday passed unanimously in the Legislature and has broad support in Wisconsin’s business community.

Popular online crowd funding sites like Kickstarter only allow for people to make donations to a certain cause, often in exchange for a token of appreciation like a T-shirt or bumper sticker.

The new Wisconsin law will allow investors to purchase equity in a company. Backers say it’s a simple way to help small businesses by opening them up to a wide pool of potential investors.

Wisconsin is one of the first states nationwide to allow for such investing through crowdfunding.

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