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Obama to pass crowd-funding law for small businesses

26 March 2012 Last updated at 12:53 BST

Small firms around the world are finding it tougher to raise money to grow their business.

One report suggests banks will cutback lending by a trillion dollars this year.

That makes alternative sources of funding all the more important.

In the United States, President Obama is set to sign a new law that would allow private firms to raise money from large numbers of shareholders, otherwise known as crowd-funding.

Caroline Hepker reports.