The SEC’s Office of the Advocate for Small Business Capital Formation issued its 2023 Annual Report last week to Congress. The report highlights how investors and entrepreneurs build startups and small public companies together.
According to the report, the number of IPOs has fallen notably since a peak in the first half of 2021, from 611 offerings totaling $189 billion to 86 companies totaling $11 billion.
The SEC shares details on capital raising in communities throughout the country based on business size, maturity, location, diversity of founders and investors, and initial public offerings and small public companies.
The report also contains SEC policy recommendations, the Small Business Capital Formation Advisory Committee’s 2023 fiscal year activities summary, and the Office’s advocacy work and public engagements from this past year.
The office will host its fifth annual Capital Call event on Jan. 30, 2024, which is open to public questions about the report and capital raising. Registration for the call opens in January.
