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Business Formation Statistics March 2024

The U.S. Census Bureau announced the following seasonally adjusted business application and formation statistics for March 2024. The Business Application Series describe the business applications for tax IDs as indicated by applications for an Employer Identification Number (EIN) through filings of the IRS Form SS-4. The Business Formation Series describe employer business formations as indicated by the first instance of payroll tax liabilities for the corresponding business applications.

State Community Reinvestment Acts

Many states have adopted Community Reinvestment Acts (CRAs) similar in purpose and structure to the federal Community Reinvestment Act of 1977. These state laws were developed following the passage of the federal CRA but contain differences that reflect the unique reinvestment priorities of individual states. State CRAs have also developed during, and often in response to, a substantial increase in the nonbank mortgage company share of the mortgage market. This report focuses on state CRA laws that provide an affirmative obligation for financial institutions to meet the lending, services, and/or investment needs of their communities. The states included are Connecticut, Illinois, Massachusetts, New York, Rhode Island, Washington, West Virginia, and the District of Columbia. It summarizes the key factors of each of these laws, organizes them into ten issue groups, and identifies five findings that inform how states could consider establishing reinvestment obligations.

State of Inclusion in Financial System

The State of Inclusion in the U.S. Financial System follows Aspen FSP’s report, Towards a National Strategy for Financial Inclusion, and moves from making the case for why the U.S. should have a National Strategy for Financial Inclusion to how. In this publication, we introduce U.S. policymakers to an assessment of the current state of inclusion in the U.S. financial system, and share processes, disparities, gaps and assess the overall state of inclusion.

Small Business Perspectives on Government Budget Negotiations

Between Aug. 4-24, 2023, Small Business for America’s Future conducted a national survey of 1,089 small business owners to gauge their sentiment on the current economic climate and their perspectives on government budget negotiations. As Congress reconvenes, more lawmakers are acknowledging the potential of a government shutdown. 

Small Business Economic Perspectives & Policy Priorities

Between Aug. 4-15, 2023, Small Business for America’s Future conducted a national survey of 961 small business owners to gauge their sentiment around the economy and the Inflation Reduction Act on its one-year anniversary.

Employee Ownership for Manufacturers

This report presents employee ownership as a strategy to address all three challenges with a flexible and proactive succession planning tool. We highlight the growing number of cases in which employee ownership has been successfully used to strengthen small- and medium-sized American manufacturers, including an innovative partnership the Oregon Manufacturing Extension Partnership (OMEP) has formed with Project Equity to offer their clients employee ownership succession planning services. By connecting these pressing challenges with this powerful solution, this report aims to equip key stakeholders to incorporate employee ownership into their toolkits to support small- and medium-sized manufacturers across the country, taking a critical step toward building quality jobs, forming resilient supply chains, and establishing sustainable business models.

Economic Well-Being of Households 2022

The Economic Well-Being of U.S. Households in 2022 report examines the financial lives of U.S. adults and their families. The report draws from the 10th annual Survey of Household Economics and Decisionmaking, or SHED, which was conducted in October 2022. The report, downloadable data, data visualizations, and a video summarizing the survey’s findings are found here.

2023 Report on Employer Firms

Small business revenue, employment, and profitability each improved from 2021, but expectations worsened year-over-year. With the end of pandemic-related funding programs, the application rate for traditional financing rebounded to prepandemic levels.

How Did Self-Care Industries Perform at Start of Pandemic?

According to the Census Bureau’s 2021 Service Annual Survey (SAS), while overall estimated Services Total revenue for employer firms decreased 1.7% from 2019 to 2020, estimated employer firm revenue for some of the service industries supporting self-care grew from 2019 to 2020.

Biden Economic Agenda 2021-23

President Biden made a series of concrete commitments to the American people about his plan for economic recovery and renewal. This blog post reviews those commitments and progress made in the two years since they were made.