SEC Publishes Staff Report on Capital-Raising Dynamics

The Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation today published and delivered to Congress its 2025 staff report that serves as a comprehensive and data-rich resource on capital-raising dynamics nationwide.

The report presents data across three company lifecycle stages to provide a fulsome picture of what is happening in the small business marketplace. It also highlights the past year's work of the Office of the Advocate for Small Business Capital Formation, which advances the interests of small businesses and their investors at the SEC and in the capital markets.

The report's contents include:

• Data on small business capital formation, segmented by:
  • Small and emerging businesses
  • Mature and later-stage businesses
  • Initial public offerings and small public companies
    
• Highlights of the office's outreach and public engagements during fiscal year 2025
  
• A summary of the activities of the SEC's Small Business Capital Formation Advisory Committee in fiscal year 2025
  

Informed by feedback garnered through its ongoing outreach efforts, the Office of the Advocate for Small Business Capital Formation continually enhances its array of educational resources to help equip small businesses and their investors with tools to navigate capital raising.