2026 Chartbook on Nonemployer Firms: Findings from the 2025 Small Business Credit Survey with Trends over Time

Report summary

Nonemployer firms are those with no employees except the business owner(s). The Small Business Credit Survey (SBCS) asks nonemployer firms about their performance, challenges, and credit-seeking experiences. This report includes findings from the 2025 SBCS across these key dimensions, highlighting differences between nonemployer and employer firms across the nation.

Key findings

• Compared to their employer firm counterparts, nonemployer firms are less likely to be profitable, but they are more optimistic about future revenue growth.
• Nearly a third of nonemployer firms indicated in the 2025 SBCS that they had plans to add employees in the next 12 months.
• About half of nonemployer firms had no debt at the time of the 2025 survey, and 31 percent reported that they did not regularly use external financing.
• Nonemployer firms were more likely than employer firms to rely on their owners’ personal funds to address financial challenges (64% and 54%, respectively).