Business Takes On Financial Challenges

Prior 12 Months
(% of employer firms with financial challenges)

Raised prices the business charges – 56%
Used personal funds – 53%
Used cash reserves – 53%
Obtained funds that must be repaid – 42%
Cut staff, hours, and/or downsized operations – 32%
Made a late payment or did not pay – 23%
Obtained funds that do not have to be repaid – 18%
No action – 5%

_{Source: 2023 Report on Employer Firms: Findings from the 2022 Small Business Credit Survey}