On November 15, the Securities Exchange Commission (SEC) will host the "SEC Government-Business Forum on Small Business Capital Formation," an annual forum focused on the capital formation concerns of small business. This year's agenda will focus on the implementation of the Jumpstart Our Business Startups Act (JOBS Act), specifically equity-based crowdfunding regulation. The forum also will look at issues related to capital for small business that were not addressed by the JOBS Act.

Crowdfunding was poised to make a major splash on startup financing in 2013, aided by the passage of the 2012 JOBS Act, a projected explosion in the number of crowdfunding portals and the adoption of state crowdfunding exemptions. However, the crowdfunding industry did not have the anticipated gamechanging impact on startup financing.