Home Small business financing NJEDA Encourages Small Business Owners To Respond To Federal Reserve Bank Survey

NJEDA Encourages Small Business Owners To Respond To Federal Reserve Bank Survey

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The New Jersey Economic Development Authority (NJEDA) is asking business owners to complete the Federal Reserve Bank’s 2021 Small Business Credit Survey. The annual survey provides crucial information on the financial health of small businesses that can help bring additional resources or support to New Jersey. Business owners can complete the survey at http://frb.co1.qualtrics.com/jfe/form/SV_9FfRVIJv9ABKFq6?orgid=NJ_EDA&parentid=8.14.2020&reserve_bank=NY.

“Timely information on the economic conditions of small businesses, financing needs and the availability of credit is essential to create meaningful resources and economic opportunities in our local communities,” said Tim Sullivan, CEO of NJEDA. “Participating in the Small Business Credit Survey will help inform decisions that impact the future of thousands of New Jersey small businesses, as it provides invaluable information on small business conditions that helps us develop programs that meet the most pressing needs of business owners. “

The Small Business Credit Survey is an annual survey of small businesses in the United States that aims to provide advocates and policy makers with information they can use to meet the needs of small businesses. NJEDA is working with the Federal Reserve to elicit responses from under-represented businesses, with a particular focus on learning more about minority and women-owned businesses. “This research helps inform studies conducted under a Research in Action Lab partnership with the Federal Reserve Bank of Philadelphia,” said Ashley Putnam, Director of the Economic Growth and Mobility Project, Federal Reserve Bank of Philadelphia.

The survey is open to all businesses with 500 or fewer employees, including businesses that have recently closed or are about to launch. It includes questions on business conditions, financing needs, access to credit and the effects of the COVID-19 pandemic. The survey takes approximately 10 minutes to complete and can be completed on a computer or phone. Responses are expected November 19, 2021. All responses are confidential.

Business owners can complete the survey, which also provides a Spanish version of the questionnaire, here: http://frb.co1.qualtrics.com/jfe/form/SV_9FfRVIJv9ABKFq6?orgid=NJ_EDA&parentid=8.14.2020&reserve_bank=NY.

To access more business news, visit NJB News Now.

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