Outlook Good
2007 pays off for small-business IPOS. Can you expect the same in your future?
Investors are hot for shares of publicly traded small businesses, which were stock market stars last year. Entrepreneurs who took their companies public this past year say the arduous process was well worth the effort. Eighty-seven companies with annual sales between $1 million and $100 million held their IPOs in the first three quarters of 2007, according to data compiled for Entrepreneur by research firm Renaissance Capital. As of September 30, those small-company IPOs had an average 16.1 percent return, beating Renaissance's index of recent IPOs, which had a 13.1 percent return. Renaissance principal Kathleen Smith attributes the strong showing to investors' interest in fast-growing businesses and tech companies--descriptions that fit many of the smaller companies that went public.
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