The Office of the Advocate for Small Business Capital Formation hosted the SEC’s 39th annual Government-Business Forum on Small Business Capital Formation virtually on June 18, 2020 pursuant to the Small Business Investment Incentive Act of 1980.
Access to capital is more critical now than ever for small businesses across the country, from startup to small cap. Members of the public and private sectors—including entrepreneurs, small business leaders, investors, market participants, and other thought leaders within the small business capital formation ecosystem—gathered virtually to craft suggestions to improve securities policy impacting how companies raise capital from investors.
A detailed agenda and list of speakers is available here. The Forum featured spotlight sessions on:
- Empowering Women Entrepreneurs – Insights from investors who support women-founded companies
- Rural and Thriving – Overcoming the unique challenges of building companies in rural communities
- Stories from Founders of Color – Building minority-owned companies and raising capital
- Building Tomorrow’s Public Companies – Exploring the pathway to IPO and the future of public offerings
- Small Cap Today – How smaller public companies handle challenges in today’s market climate
These 20 minute spotlights were interspersed with keynotes from Jovita Carranza (SBA Administrator), Pete Flint (Managing Partner, NFX and founder of Trulia and lastminute.com), Arlan Hamilton (Founder and Managing Partner, Backstage Capital), and Susan Tynan (Founder and CEO, Framebridge).
The sessions and keynotes were followed by collaborative policy discussions that provided thoughtful and substantive feedback, the first on “Exempt Offerings and Capital Formation Proposal” and the second on “The Path to IPO and Small Cap Companies.”
The Forum was free and accessible to the public. We were excited to roll out new technology for the virtual environment to enable more voices than ever to be heard. The page will be updated when the 2020 Forum Report is available.
If you have feedback about this year’s Forum or ideas for future Fora or events that the Office could host focused on access to investor capital, please reach out to email@example.com.
2019 Forum Report
The Commission hosted its 38th Government-Business Forum in partnership with the Heider College of Business at Creighton University in Omaha, Nebraska on August 14, 2019. The Commission released a report on the 2019 Forum on December 5, 2019, which provides an executive summary of the Forum proceedings, the recommendations made by the 2019 Forum participants, and the Commission's responses to the recommendations. It seeks to incorporate the passion conveyed by the talented and thoughtful panelists and participants who spoke openly and candidly about their successes and challenges in capital formation as well as ways that our securities law framework could be calibrated to work better for both companies and investors in the small business ecosystem.Reports and Materials From Prior Forums
- Press Release: SEC Announces 2020 Small Business Forum to be held Virtually
- SEC Announces Speakers for June 18 Small Business Forum: “Access to Capital: More Critical Now than Ever
- Transcript of the Small Business Forum
- Commissioner Remarks:
- Chairman Jay Clayton
- Commissioner Hester M. Peirce
- Commissioner Elad L. Roisman
- Commissioner Allison Herren Lee
- Welcome Remarks by Martha Legg Miller, Advocate for Small Business Capital Formation