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Small Businesses: Difference between revisions
→Past Recessions
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=== 2008 === | === 2008 === | ||
The 2007-09 downturn has had a deeper employment impact on small businesses than on large ones. Small firms attribute the relatively steep decline in jobs mostly to poor sales and economic uncertainty—problems that also affected large firms, but to a lesser degree. Tightened access to credit and adverse financial conditions also constrained small firms but a more important factor was the decline in new investment and associated financing in the face of weak consumer demand for the firms’ products and services | The 2007-09 downturn has had a deeper employment impact on small businesses than on large ones. Small firms attribute the relatively steep decline in jobs mostly to poor sales and economic uncertainty—problems that also affected large firms, but to a lesser degree. Tightened access to credit and adverse financial conditions also constrained small firms but a more important factor was the decline in new investment and associated financing in the face of weak consumer demand for the firms’ products and services<ref>https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci17-4.pdf</ref> | ||
==== Average Business Size and Sectoral Employment Declines | ==== Average Business Size and Sectoral Employment Declines ==== | ||
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