According to Bespoke Investment Group:
During the 1990s the US routinely had 40 IPOs per month. Some months even exceeded 100.
The average number so far this year is under 14 and, of course, was even lower during the crisis.
The question is why?
The importance of fixing this for our long-term competitiveness is pretty clear. Getting at the root cause(s) of what's driving this trend and actually fixing it is something else altogether. There are many opinions but, ultimately, a rigorous assessment of the forces that discourage the launch of new public companies needs to occur.
It's not just that more IPOs are needed but higher quality ones with long-term impact. Check out the chart in their post.