The objective of this research is to isolate and analyze those areas which represent the greatest difficulty in expense, ad ministrative burden and confusion. Information was gathered by survey and interviews to determine what services are offered by underwriting firms and what services small businesses have found most beneficial in planning and executing their offering. The information gathered in Utah is compared with that gathered in California to determine the differences in the public equity markets of the two regions . These differences are the bas i s for the recommended changes in the underwriting procedures in Utah.