The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation issued its 2022 Annual Report  to Congress and the Commission. The report details how entrepreneurs and investors are building companies together, from startups to small public companies.

The report provides an in-depth analysis of the dynamics of capital raising in communities across the country. The report includes:

• Highlights of the Office’s advocacy work in fiscal year 2022;
• Policy recommendations;
• Summary of the Small Business Capital Formation Advisory Committee’s 2022 activities; and
• Data on small business capital formation, broken down by:
  • Small and emerging businesses
  • Mature and later-stage businesses
  • Small public companies
  • Women business owners and investors
  • Minority business owners and investors
  • Natural disaster areas
  • Rural communities

The Office of the Advocate for Small Business Capital Formation is an independent office, established by Congress in January 2019, to advance the interests of small businesses. The Office also works to identify and address unique challenges faced by minority-owned, women-owned, rural, and natural disaster area small businesses and their investors, and provides educational resources to help small businesses navigate capital raising.

On January 24, 2023, the Office will host its fourth annual Capital Call virtual event, during which the public can ask questions about the report and share perspectives on capital raising. Registration for the Capital Call will open in January.