美国小企业融资与经营状况十年演变_15页_410kb

2026 Main Street Metrics: Summary

Core Content

The 2026 Main Street Metrics report is based on data from the Small Business Credit Survey (SBCS), which collects information on the financial health and credit needs of small businesses in the United States. The report summarizes time-series data for employer firms across multiple metrics, providing insights into trends in revenue and employment growth, financial challenges, debt usage, and financing applications.

Main Points

• Survey Overview: The SBCS is an annual survey targeting firms with fewer than 500 employees. It gathers data on business performance, financing needs, and application experiences.
• Time Period Definitions:
  • "Prior 12 months" refers to the 12 months before the survey was conducted.
  • "Next 12 months" refers to the 12 months after the survey was conducted.
• Data Collection:
  • The survey is not a random sample and may have biases due to convenience sampling.
  • Detailed survey design and weighting methodology can be found at fedsmallbusiness.org/our-data/methodology.

Key Metrics and Trends

1. Revenue Growth (Prior 12 Months)

• This metric tracks the percentage of employer firms that reported an increase in revenue over the 12 months before the survey.
• Data is available from 2016 to 2025.

2. Employment Growth (Prior 12 Months)

• This metric reflects the percentage of employer firms that increased their workforce in the 12 months prior to the survey.
• Data is available from 2016 to 2025.

3. Revenue Growth Expectations (Next 12 Months)

• This metric indicates the percentage of employer firms expecting revenue growth in the next 12 months.
• Data is available from 2016 to 2025.

4. Employment Growth Expectations (Next 12 Months)

• This metric shows the percentage of employer firms anticipating an increase in the number of employees in the next 12 months.
• Data is available from 2016 to 2025.

5. Share of Firms Operating Profitably (Prior 12 Months)

• This metric presents the percentage of employer firms that operated profitably through the end of the calendar year before the survey.
• Data is available from 2020 to 2025.

6. Share of Firms with Financial Challenges (Prior 12 Months)

• This metric shows the percentage of employer firms that faced one or more financial challenges in the prior 12 months.
• Financial challenges include weak sales, paying operating expenses, debt payments, uneven cash flow, and credit availability.
• Data is available from 2017 to 2025.

7. Use of Personal Funds (Prior 12 Months)

• This metric reflects the percentage of employer firms with financial challenges that used the owner's personal funds to address them.
• Data is available from 2017 to 2025.

8. Financial Condition (Self-reported)

• This metric indicates the percentage of employer firms reporting "fair" or "poor" financial condition at the time of the survey.
• The financial condition question was introduced in 2020; prior data is not available.

9. Share of Firms with Debt Outstanding

• This metric shows the percentage of employer firms that had outstanding debt at the time of the survey.
• Debt includes funds borrowed from external parties, such as financial institutions and friends or family.
• In 2020 and 2021, Paycheck Protection Program (PPP) loans were excluded from debt calculations.

10. Application Rate for New Financing (Prior 12 Months)

• This metric tracks the percentage of employer firms that applied for loans, lines of credit, or merchant cash advances in the prior 12 months.
• In 2020, 2021, and 2022, pandemic-related financial assistance programs (e.g., PPP loans) were excluded from the application rate.

11. Share of Financing Applicants Fully Approved (Prior 12 Months)

• This metric reflects the percentage of financing applicants who received full approval for the amount they requested.
• Pandemic-related financial assistance program approvals (e.g., PPP loans) are not included in this metric.

Additional Information

• The appendix file provides detailed over-time data by firm and owner characteristics, including firm size, age, industry, geography, and credit risk.
• The SBCS is supported by collaboration with business and civic organizations across the United States.
• For media inquiries, contact Chuck Soder at chuck.soder@clev.frb.org.
• For research and data inquiries, contact Hal Martin at hal.martin@clev.frb.org.
• The report is licensed under a Creative Commons Attribution-NonCommercial 4.0 International license.
• For more information, visit fedsmallbusiness.org.