NEW YORK—The Federal Reserve Bank of New York today released Smart Data for Small Business, an interactive tool that contains performance and financing benchmarks reported directly from business owners. The tool allows small businesses to see how they compare with firms of similar age, revenue, industry and location on dimensions like profitability and growth, primary financing types, and loan application success.
Data for the tool is from the New York Fed’s Small Business Credit Survey (SBCS), which reports information about business characteristics, performance, financing choices and borrowing experiences. The SBCS captures the perspectives of businesses with fewer than 500 employees in New York, New Jersey and Connecticut and is distributed through civic and non-profit partners, primarily Chambers of Commerce, but also industry associations and development corporations and authorities.
About Regional & Community Outreach at the New York Fed
The Federal Reserve Bank of New York's regional outreach mission is to promote sustained economic vitality by leveraging the Bank's strengths to benefit the people in the District. The New York Fed is also active in maintaining connections with the District’s people and key communities in order to inform Bank policy decisions and build support for sound monetary and regulatory policy.