The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation released its 2021 Annual Report on the state of small business in America.
The report details how entrepreneurs and investors build startups to small public companies in the United States.
“The past year has been a banner year for capital raising in the aggregate; however, that headline only tells part of the story,” said Martha Legg Miller, director of the SEC’s Office of the Advocate for Small Business Capital Formation. “For every headline on a successful founder’s seed round or IPO, there are countless entrepreneurs who are struggling. Our report examines the challenges of navigating the inside baseball world of capital raising, bridging founders’ personal networks to sophisticated investors, building first-time funds in the middle of the country, or determining which exit path to pursue, and our team proposes solutions to each of these issues.”
An independent office created in January 2019 by legislation designed to advance the interests of small businesses, the SEC’s Office of the Advocate for Small Business Capital Formation’s report is a resource for a look into the dynamics of raising capital in communities throughout the United States. The Office said the report highlights its work during fiscal year 2021 while presenting policy recommendations and data on small business capital formation for small and emerging businesses, small public companies, women-owned businesses and investors, minority-owned businesses and investors, mature and later-stage businesses, natural disaster areas and rural communities.
The report also contains information regarding the activities of the Advisory Committee itself over the past fiscal year. Information on the report will be presented on the Advisory Committee’s third annual “Capital Call” on Jan. 19, 2022.