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2023 Report on Nonemployer Firms
Findings from the 2022 Small Business Credit Survey

Nonemployer firms are less likely to be profitable than their employer firm counterparts, and they face more substantial challenges accessing credit. 

  • 2023 Firms in Focus: Findings from the 2022 Small Business Credit Survey

    Firms in Focus is a series of chartbooks presenting Small Business Credit Survey data across various business and owner demographic characteristics, as well as by state and metropolitan statistical area (MSA).

  • 2023 Report on Employer Firms

    Small business revenue, employment, and profitability each improved from 2021, but expectations worsened year-over-year. With the end of pandemic-related funding programs, the application rate for traditional financing rebounded to prepandemic levels.

  • The Impact of Natural Disasters on Small Businesses

    The 2021 Small Business Credit Survey (SBCS) found that 1 in 10 small employer businesses suffered losses from a natural disaster during the prior 12 months.

  • 2022 Report on Nonemployer Firms

    Most businesses with no employees other than the owner earned lower revenues in 2021 than they did before the pandemic. These nonemployer firms continued to be less likely than employer firms to seek pandemic-related financial assistance.

  • 2022 Report on Hiring and Worker Retention

    Seventy-five percent of employer firms tried to hire workers in 2021; close to half called the experience “very difficult.” In response, firms most often increased wages or shifted more work to existing employees.

  • 2022 Report on Firms Owned by People of Color

    Businesses owned by people of color faced more financial and operational challenges than their white-owned counterparts and often were less successful at obtaining the funding needed to weather the effects of the pandemic.