2003 Survey of Small Business Finances
The 2003 Survey of Small Business Finances (SSBF) is being
conducted by the
Board of Governors of the Federal Reserve System, with the help of the National Opinion
(NORC) at the University of Chicago. The 2003 survey marks the
that financial information from businesses with fewer than 500
be collected by the Federal Reserve.
To better understand the finances of small businesses and the credit conditions they face, the Federal Reserve regularly seeks information on
Below are excerpts of statements by Chairman Greenspan, Vice Chairman
Roger W. Ferguson, Jr., and Governor Susan S. Bies, a letter from Chairman Greespan,
links to some examples of research that used data from the 1987, 1993, and 1998 surveys,
and a list of frequently asked questions.
Remarks by Chairman Alan Greenspan
The Fed currently is working on its third survey of 6,000 small businesses--to be known as the 1998 Survey of Small Business Finances. We expect this new information, coupled with annual CRA reports, to add greatly to our knowledge of changes taking place in small business finance. I want to thank in advance any small business that is selected to be part of the Fed's new survey and to encourage them to participate. It takes a lot of time and effort for survey respondents to answer our detailed questions, but as evidenced by the presentations here, the information is very valuable to us. More broadly, it is the type of information that provides the basis for sound analytical research on many important issues.
Remarks by Vice Chairman Roger W. Ferguson, Jr.
Given the importance of small businesses to our economy, and their heavy reliance on credit to facilitate growth, the Federal Reserve has taken a leading role in efforts to improve the understanding of factors that bear on the availability of funds to support small business activity. Our most recent report to the Congress in September on the availability of credit to small businesses provides an extensive review of developments in recent years.Remarks by Governor Susan S. Bies
Credit Availability for Small Business
Before local business owners, Federal Reserve Bank of New York, Buffalo Branch, Buffalo, New York
December 13, 2002
Given the importance of small businesses to our economy, and their need for credit to facilitate growth, the Federal Reserve has taken a leading role in efforts to better understand the factors that influence the availability of funds to support small business activity. Every five years, the Board of Governors submits a report to the Congress detailing the extent of small business lending by all creditors. Our most recent report to the Congress, submitted this past September, provides an extensive review of developments in recent years. An important input into this analysis is the Board's Survey of Small Business Finances, which is conducted every five years; the most recent was in 1998.
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