|2003 Survey of Small Business Finances
The 2003 Survey of Small Business Finances (SSBF) is  being
conducted by the
Board of Governors of the Federal Reserve System, with the help of the National Opinion
Research Center

(NORC) at the University of Chicago.  The 2003 survey marks the
fourth time
that financial information from businesses with fewer than 500
employees will
be collected by the Federal Reserve.To better understand the finances of small businesses and the
credit
conditions they face, the Federal Reserve regularly seeks
information onThe factors that affect prices and availability of credit to
small
businessesThe effects that bank consolidation may have on the
availability of credit
and other financial servicesThe characteristics of small businesses and how these
characteristics
influence their credit needsThe experiences that small businesses have with credit
applicationsThe impact that government regulations may have on small
business credit
accessThe financial and nonfinancial sources used by small
businesses for their
financing needs.

The information from this survey will be used to evaluate the
effect of public
policies on small businesses of different sizes, locations, and
ownership
characteristics.  The information will also be used in the "Report to Congress on
the
Availability of Credit to Small Business" (1MB PDF) that is produced by
the Federal
Reserve every five years.
Below are excerpts of statements by Chairman Greenspan, Vice Chairman 
Roger W. Ferguson, Jr., and Governor Susan S. Bies, a letter from Chairman Greespan,
links to some examples of research that used data from the 1987, 1993, and 1998 surveys,
and a list of frequently asked questions.Remarks by Chairman Alan GreenspanChanges in small business finance
At the Federal Reserve System Research Conference on Business
Access to
Capital and Credit, Arlington, Virginia 
March 9, 1999Full textThe Fed currently is working on its third survey of 6,000 small
businesses--to
be known as the 1998 Survey of Small Business Finances.  We
expect this new
information, coupled with annual CRA reports, to add greatly to
our knowledge
of changes taking place in small business finance. I want to
thank in advance
any small business that is selected to be part of the Fed's new
survey and to
encourage them to participate.  It takes a lot of time and effort
for survey
respondents to answer our detailed questions, but as evidenced by
the
presentations here, the information is very valuable to us.  More
broadly, it
is the type of information that provides the basis for sound
analytical
research on many important issues.
Remarks by Vice Chairman Roger W. Ferguson, Jr.Economic Progress and Small Business

Before the African American Chamber of Commerce of Western Pennsylvania, Pittsburgh, Pennsylvania 

November 12, 2002Full textGiven the importance of small businesses to our economy, and their heavy reliance 
on credit to facilitate growth, the Federal Reserve has taken a leading role in 
efforts to improve the understanding of factors that bear on the availability of 
funds to support small business activity. Our most recent report to the Congress 
in September on the availability of credit to small businesses provides an extensive 
review of developments in recent years. An important input into our analysis of small businesses is the Board's Survey of 
Small Business Finances, which is conducted every five years; the most recent was 
in 1998. These surveys collect detailed information on the financial and other 
characteristics of a nationally representative sample of small businesses.

Remarks by Governor Susan S. BiesCredit Availability for Small Business

Before local business owners, Federal Reserve Bank of New York, Buffalo Branch, Buffalo, New York 

December 13, 2002Full text
Given the importance of small businesses to our economy, and their need for credit 
to facilitate growth, the Federal Reserve has taken a leading role in efforts to 
better understand the factors that influence the availability of funds to support 
small business activity. Every five years, the Board of Governors submits a report 
to the Congress detailing the extent of small business lending by all creditors. 
Our most recent report to the Congress, submitted this past September, provides an 
extensive review of developments in recent years. An important input into this 
analysis is the Board's Survey of Small Business Finances, which is conducted 
every five years; the most recent was in 1998. This survey provides the most comprehensive and up-to-date information available 
on small business finance available.


Letter from Chairman Greenspan (423 KB
PDF)A letter to owners of small businesses asking for
participation in the
2003 SSBF.Frequently asked questionsAnswers to common questions, such as confidentiality and the
types of
information that the 2003 SSBF will collect.Research using the 1987, 1993, and 1998
SSBFReferences and abstracts of publicly available research that
have used
data from the 1987, 1993, and 1998 surveys.
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