NEW YORK—On December 20, the Federal Reserve Banks of New York, Atlanta, Boston, Cleveland, Philadelphia, Richmond and St. Louis will issue a second report on the results from the 2015 Small Business Credit Survey (SBCS). The first report, released earlier this year, focused on small employer firms, while this new report examines business conditions and the credit environment of nonemployer firms—small businesses with no employees other than the business’s owners.
Although nonemployer firms make up 80% of all small businesses, little is known about their financing experiences. The 2015 Small Business Credit Survey: Nonemployer Small Businesses Report intends to address this knowledge gap by providing a deeper understanding of the unique characteristics of nonemployer firms and the challenges they face.
This is the second report on nonemployer firms based on SBCS data and, compared to the 2015 version, the 2016 report captures updated and more detailed information on business conditions, credit needs, and borrowing experiences of these businesses.
For more information, please contact Betsy Bourassa at Betsy.Bourassa@ny.frb.org