In Cash is King: Flows, Balances, and Buffer Days, we explore the financial lives of small business through the lens of cash inflows, outflows and account balances. Using a new data asset constructed from over 470 million transactions conducted by 597,000 small businesses from February to...

In Making Payroll: Big Data on Small Business Payroll Growth and Volatility, we provide a new look at the employment challenges small businesses continue to face through the lens of payroll, growth, and volatility in this critical sector. Leveraging data from over 45,000 anonymized Chase small...

This report introduces a newly augmented small business data asset to empirically address questions of small business growth, vitality, and economic contribution. We built a sample of 1.3 million de-identified small businesses with Chase Business Banking accounts active between October 2012 and...

The Paycheck Protection Program (PPP) was an unprecedented effort to provide liquidity to and support the payroll of small businesses impacted by COVID-19. Leveraging daily transactions from a de-identified dataset of small businesses that hold Chase Business Banking deposit accounts and...

This report assesses the impact of hurricanes Harvey and Irma on small businesses' cash inflows, outflows and balances. We leverage an anonymized sample of 40,000 firms who hold business banking deposit accounts with Chase to produce a daily view of small business cash flows from August 2017 to...

The small business sector makes substantial contributions to overall US economic growth and dynamism. That dynamism is driven by the people who start businesses and grow them, including women who now comprise 36 percent of business owners, up from just 4.6 percent in 1972, and the business...

The contributions of the small businesses sector to the U.S. economy are often noted in periods of economic growth, and the fragility of the sector is a core focus of policy in an economic downturn. The sector is important not only because of its contributions to job growth, real economic...

While many researchers have observed overall heterogeneity in the small business sector, existing data sources provide limited information about community-level differences in small business financial outcomes. In this report, we use de-identified transaction data from business deposit accounts...

Observers of the small business sector have argued that cash flow management is an important issue for small businesses and their owners, but existing data sources provide a limited empirical view of the cash flow patterns of individual small firms. We use de-identified transaction data from the...

Small businesses are one of the pillars of urban economies, making substantial contributions to economic growth and dynamism. However, the fragility of the small business sector is an ongoing challenge that limits how much it contributes to economic growth in cities. Understanding the drivers of...