small business issuer investment & finance definition

A small business that issues stocks or bonds. Federal securities laws define a small business as a company in the U.S. or Canada that had less than $25 million in revenues in the last fiscal year and whose outstanding publicly-held stock is worth no more than $25 million. A com-pany that fits those requirements is a small business issuer and has its own set of regulatory disclosures and rules to follow when issuing stocks or bonds.