Initial public offerings have been declining in the United States for some time, a situation that Congress attempted to remedy earlier this year with the JOBS Act, which makes it easier for smaller companies to go public. But according to the Wall Street Journal, a survey by Pepperdine University's Graziado School of Business and Management and Dun & Bradstreet found the legislation did little to make going public more attractive to smaller firms.
In fact, just 1% of the 6,000 small businesses surveyed say the legislation made it more likely they will go public. And the survey was conducted in the first quarter, before Facebook gave IPOs a bad name with its messy launch as a public company in May.
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