The 2021 report contains policy recommendations, comprehensive data on the state of small business capital formation, and an outline of the Office of the Advocate for Small Business Capital Formation’s advocacy efforts on behalf of small businesses and their investors. In keeping with the office’s intention to bring diverse voices and perspectives to the SEC on small business capital formation, the publication also emphasizes the individual challenges faced by the following categories:

• Minority-owned businesses and investors
• Small and emerging businesses
• Mature and later-stage businesses
• Small public companies
• Women-owned businesses and investors
• Natural disaster areas
• Rural communities

To provide the public an opportunity to ask live questions and share perspectives on the report and the state of capital formation, the office will host its third annual Capital Call on January 19, 2022, at 1:00 p.m. EST. The event will be open to the public and held remotely. 

The SEC’s Office of the Advocate for Small Business Capital Formation was created as an independent office in January 2019 under Congressional legislation to advance the interests of small businesses and their investors, both within the SEC and in the capital markets.

Sources:

Report From SEC Small Business Advocate Details Capital Raising During Past Year (sec.gov)

Annual Report for Fiscal Year 2021 (sec.gov)

Office of the Advocate for Small Business Capital Formation (sec.gov)