Small Business Forum Report to Congress Highlights Recommendations to Improve Capital Raising

The Securities and Exchange Commission released a report to Congress summarizing policy recommendations made during the SEC's 44th Annual Small Business Forum.

The report provides a summary of the forum proceedings, recommendations developed by participants for changes to the capital raising framework, and the Commission's responses to those recommendations.

The forum took place on April 10, 2025, and featured speakers with a breadth of perspectives on ways to approach capital raising from a variety of backgrounds, geographies, and life cycle stages.

The sessions focused on the following topics:

• Early-stage capital raising

• Growth-stage companies and smaller funds

• Small cap companies and the public markets

The SEC's Office of the Advocate for Small Business Capital Formation is charged by Congress with hosting the SEC's annual Small Business Forum, where members of the public and private sectors gather to provide feedback to improve capital-raising policy. The office thanks the speakers, participants, advisory planning group members, and SEC staff members who made this year's forum a success. Video archives and a transcript of the discussions are available online.