Using data from the national 2025 Report on Employer Firms: Findings from the 2024 Small Business Credit Survey, these briefs detail findings from small businesses in our region. The four briefs offer insights into the state of small businesses in:
- New Jersey;
- Pennsylvania;
- the Philadelphia-Camden-Wilmington metropolitan statistical area; and
- the Third District states (Delaware, New Jersey, and Pennsylvania) overall.
The briefs illustrate what firms in our region in 2024 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 with fewer than 500 employees that provides timely information on firms’ needs and experiences with getting loans and managing debt. The Fed conducted its survey from September through November 2024 and reached over 7,600 small employer firms nationwide.