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Federal Reserve - Small Business Credit Survey (SBCS)

Federal Reserve - Small Business Credit Survey (SBCS)

October 26, 2022

Small Businesses Are Important to the National Economy

Small businesses play a large role in the American economy. Employing nearly half of private sector workers, small firms create economic opportunity in local communities and help drive innovation in the macro economy. Given this national significance, timely information on small business economic conditions, financing needs, and credit availability is important.

Please take 10 minutes to fill-out this survey:

https://frb.co1.qualtrics.com/jfe/form/SV_emJrBt1qbghCA3Y?reserve_bank=National&orgid=FedCommunities

More information: https://www.fedsmallbusiness.org/


The Survey Provides Critical Information

The 12 Reserve Banks of the Federal Reserve System launched the annual Small Business Credit Survey (SBCS) to provide timely insights on small business conditions to policy makers, service providers, and lenders. The survey is a national sample of small businesses, or firms with fewer than 500 employees, aimed at providing insight into firms' financing and debt needs and experiences. Its reports focus attention on growing and changing segments of the small business market, including startups, minority-owned firms, women-owned firms, rural firms, and the self-employed and gig workers.

The Survey Is Timely and Responsive

The SBCS provides insights on financing needs and gaps. The survey tracks a fixed set of questions on business financing needs, credit applications, and credit outcomes over time. The survey also contains special topics modules, which vary on an annual basis. In 2017, special topics focused on hiring experiences and disaster recovery. The survey is fielded annually late in the third quarter and fourth quarter, and reports are issued on a rolling basis beginning late in the first quarter of the following year.

Analysis

The analysis below is based on the Small Business Credit Survey. It examines the state of small businesses, often using data gathered by the Survey combined with data from other reputable sources. It also can include analysis co-authored with partners, such as the Small Business Administration, Stanford University, and Interise.


Survey and Reports link:

https://www.fedsmallbusiness.org/survey

The Small Business Credit Survey is a national sample of small businesses, or firms with fewer than 500 employees, aimed at providing insight into firms' financing and debt needs and experiences. Analysis of this dataset is issued through a series of reports.



About the Author:

Damon Paull is a Marine Corps veteran who has traveled to over 20 countries. As a financial advisor in Houston, Texas, he is passionate about helping business owners and individuals pursue their financial goals. You can connect with Damon and his team at: 703.362.5747 or DPaull@totuswm.com.