Federal Reserve Bank of Cleveland

Central bank · UN · 4 documents

Key number

94%

Highest share of employer firms reporting financial challenges in a survey year. Federal Reserve Banks (Small Business Credit Survey) p.10

Key number

81%

Key number

64%

Nonemployer firms relying on owners' personal funds to address financial challenges (versus 54% of employer firms). Federal Reserve Banks (Small Business Credit Survey) p.6

Survey

The 2025 Small Business Credit Survey yielded 11,552 responses: 6,525 from employer firms and 5,027 from nonemployer firms.

Report

Increased costs of goods, services, and/or wages was the most common financial challenge, affecting 73% of firms.

Report

The share of employer firms reporting revenue growth in the prior 12 months ranged from 14% to 57% across the 2016 to 2025 surveys.

Report

In the 2024 survey, 38% of employer firms reported an increase in revenues over the prior 12 months, remaining unchanged from 38% in 2023.