A series of briefs illustrating performance and challenges faced by small businesses in New Jersey, Pennsylvania, and the Third District overall, respectively. The briefs are based on data from the Fed’s 2021 Small Business Credit Survey.
Federal Reserve Innovation Office Hours | Virtual Event
This report uses SBCS data to highlight how firms of color were more likely to experience financial and operational challenges stemming from the pandemic. These challenges are salient because business ownership is integral to wealth building and employment in communities of color.
Small businesses continue to face significant challenges amid the COVID-19 pandemic, including weak demand, heightened expenses, and limited credit availability. Nearly one-third of firms say they’re unlikely to survive without additional government aid until sales recover.
The Community Development and Regional Outreach Department has compiled information on each region within the Third Federal Reserve District and has developed a suite of materials that the department calls community profiles.
Updated: 10 Mar ’20
The Consumer Credit Explorer (CCE) is an interactive tool for examining trends in consumer credit use at the regional, state, and national levels.
Updated: 14 May ’20