The Federal Reserve Bank of New York will issue the 2016 Small Business Credit Survey: Report on Startup Firms at 1:00 PM EDT on Tuesday, August 8. The Report on Startup Firms is the second in a series of reports that examines the results of an annual survey of small business owners. The first report in the series—the Report on Employer Firms—is available here.
The Report on Startup Firms focuses on startups with employees—which we define as small businesses that were five-years-old or younger in 2016 and had full- or part-time employees. These firms are particularly salient for the U.S. macroeconomy because young firms with employees are predominantly responsible for U.S. job growth.
The report will examine business conditions and the credit environment from the perspective of over 2,000 of these startups. Specifically, it will examine how startups nationwide performed—especially compared to mature small firms—by assessing their performance and expectations, the credit they sought and received, and the lenders they applied to as well as their success and satisfaction with them.