April 26, 2017

By Bob Coleman
Editor, C-Suite Wednesday

C-Suite Wednesday — 61% of Main Street Faced Financial Challenges in 2016

More cool stats from the Federal Reserve Banks’ 2016 Small Business Credit Survey.

Financial Challenges

61% of Main Street faced financial challenges in 2016.

The Solution?

Debt loads

Small Business Expectations

Anticipated Revenue Change in 2017

Will Increase — 71%
No Change — 19%
Will Decrease — 10%

Anticipated Employment Change in 2017

Will Increase — 46%
No Change — 47%
Will Decrease — 7%

A growing small businesses is defined with three elements; increased revenues, increased employees and a plan to increase or maintain the number of employees. The Fed says 29% of America’s small businesses are “growing.”

Access the report here