Age of Firm

Demographic data collected through the Small Business Credit Survey offers detailed insights on how firms’ growth, challenges, and financing experiences change over the life cycle of the business.

The challenges faced by the youngest businesses in the small business sector can substantially differ from those faced by much older firms. Businesses starting up are aiming to attract customers, efficiently deliver their goods or services to their clients, and build enough of a cushion to survive the financial demands of the early stages of business ownership. In contrast, older firms may face challenges related to business expansion and securing the financing needed to support growth.