There are a lot of SMEs that are incorporated and are public companies, but I don't know how common it is for them to invest through that vehicle. Most of the investors in these companies are retail investors, in fact. That's something to note.
One thing I would highlight, though, is that when you talk about those ramen-eating employees of the start-ups, in some cases they already took a tax hit a couple of years ago when the taxation of employee stock options was itself targeted with a new tax rate. Government did some things to carve out smaller companies, but it's actually not the first time they've taken a tax hit in the last couple of years in this way.