Using data from the national 2024 Report on Employer Firms: Findings from the 2023 Small Business Credit Survey, these briefs summarize responses from small businesses in our region. The four short, graphic reports offer a view into small business conditions in New Jersey, Pennsylvania, the Philadelphia-Camden-Wilmington metropolitan statistical area, and the Third District states (Pennsylvania, New Jersey, and Delaware) overall, respectively.

The briefs illustrate what respondents in our region in 2023 said about:

  • their overall financial condition;
  • applying for financing; and
  • their top financial and operational challenges.

The Federal Reserve’s Small Business Credit Survey is a national sample of small businesses, or firms with fewer than 500 employees, aimed at providing insight into firms’ financing and debt needs and experiences. The Fed conducted its survey from September through November 2023 and reached more than 6,000 small employer firms nationwide.