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

On Sep 29, 2021

The New Jersey Economic Development Authority (NJEDA) is asking business owners to respond to the Federal Reserve Bank’s 2021 Small Business Credit Survey. The annual survey provides crucial insights into the financial health of small businesses that can help to bring additional resources or support to New Jersey. Business owners can respond to 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 small business economic conditions, financing needs, and credit availability is vital to creating meaningful resources and economic opportunities in our local communities,” said NJEDA Chief Executive Officer Tim Sullivan. “Participating in the Small Business Credit Survey will help inform decisions that impact the future of thousands of small businesses in New Jersey, as it provides valuable insights on small business conditions that help us develop programs that address business owners’ most pressing needs.”

The Small Business Credit Survey is an annual survey of small businesses in the United States that aims to provide advocates and policymakers with insights they can use to address small businesses’ needs. The NJEDA is working with the Federal Reserve to drive responses from underrepresented businesses, with a particular focus on learning more about minority- and women-owned firms. “This research helps inform studies conducted as part of a Research in Action Lab partnership with the Federal Reserve Bank of Philadelphia,” said Ashley Putnam, Director, Economic Growth & 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 about business conditions, financing needs, access to credit, and the effects of the COVID-19 pandemic. The survey takes roughly 10 minutes to complete and can be filled out on a computer or phone. Responses are due November 19, 2021. All responses are confidential.

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

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