On December 18, 2020, the SEC’s Office of the Advocate for Small Business Capital Formation issued its Annual Report for Fiscal Year 2020. This report contains comprehensive data on the state of small business capital formation, as well as a summary of the office’s activities in supporting small business and their investors. The report also includes policy recommendations. This year the report features a discussion of the impacts the COVID-19 pandemic has had on small businesses and small business capital formation.
In addition to these COVID-19 related topics, the report highlights the unique challenges faced by minority-owned, women-owned, rural, and natural disaster area small businesses and their investors. Intended to bring diverse voices and perspectives to the SEC on small business capital formation issues, multiple engagements with small businesses and their investors were sponsored by the office. The report describes these mostly virtual events. Finally, the report offers a retrospective look at the last fiscal year.
To provide the public an opportunity to ask live questions about the report and the state of capital formation, the office will host its second annual Capital Call on February 4, 2021.