If you are a business owner, odds are you are a small-business owner. Small businesses, defined as those with fewer than 500 employees, make up almost half of private-sector employment, over 40 percent of US GDP, and are responsible for nearly two thirds of net new job creation. We may call them small, but they are a large part of the economy and its growth.
For those reasons and more, small businesses are a subject of interest for researchers, policymakers at the local, state and national levels, and others. They are eager to understand, how are small businesses doing? What challenges do they face? How do they manage them?
Every year, the Federal Reserve Banks conduct a survey to learn answers to those questions, specifically focused on small business financing, financial conditions, and emerging issues. The Fed’s Small Business Credit Survey gives voice to thousands of small business owners and makes it easy to understand through public reports. By sharing your perspective, you can proactively inform policymakers about your successes and challenges as you navigate doing business.
A few details about the survey:
- The survey takes 10–12 minutes to complete.
- It’s open to for-profit businesses with fewer than 500 employees.
- Responses are confidential.
- Small-business owners do not need to provide any personal information.
Small-business owners: Tell us what you’re experiencing. My team and I will combine your responses with the experiences of thousands of others across the United States to paint the picture of what doing business means for businesses like yours. Take a few minutes and add your brush stroke today – the 2023 survey is open until November 1, 2024.
Learn more at FedSmallBusiness.org.
Community Organizations: Do you want to partner with the Federal Reserve Banks to distribute the survey to your networks? Learn more about how to partner with us for this important work.
About the Small Business Credit Survey
The Small Business Credit Survey (SBCS) is an annual, national survey of firms with fewer than 500 employees. Respondents are asked to share information about their business performance, financing needs and choices, and borrowing experiences. Responses to the SBCS provide insights on the dynamics behind lending trends and shed light on various segments of the small business population.
Want to learn more? Visit FedSmallBusiness.org.
Last updated November 4, 2024 at the close of the 2023 Federal Reserve Small Business Credit Survey.
