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Small Business Indicators - Fourth Quarter 2004


   
  Last Five Years Last Five Quarters
2000 2001 2002 2003 2004 Q4-03 Q1-04 Q2-04 Q3-04 Q4-04
Business bankruptcy filings (thousands) 35.5 40.1 38.5 35.0 -- 8.3 10.6 8.2 7.6 --
Proprietors' income (billions of dollars) 728.4 771.9 769.6 834.1 902.4 864.7 872.1 901.4 902.9 933.1
Prime bank loan rate 9.2 6.9 4.7 4.1 4.3 4.0 4.0 4.0 4.4 4.9
Rates for smallest loans (less than $100,000):
Variable rate loans, repricing terms of 2-30 days 9.7 7.4 5.1 4.4 4.4 4.3 4.3 4.2 4.6 4.5
Variable rate loans, repricing terms of 31-365 days 9.9 8.7 6.6 6.4 6.2 6.1 6.1 6.1 6.3 6.5
Senior loan officers (percent of respondents):
Net small firm C&I lending standards (those whose standards were eased minus those tightened) -20.4 -39.4 -20.0 -7.1 +13.1 +1.8 +10.9 +19.6 +3.7 +18.2
Net small firm demand for C&I loans (those whose demand was stronger minus those weaker) -3.3 -36.6 -40.0 -14.7 +25.9 -3.9 +21.8 +38.1 +38.9 +25.5
Venture Investment:
Number of deals 8073 4617 3050 2847 2876 754 686 798 645 747
Total invested (billions of dollars) 105.9 41.0 21.6 18.9 20.9 5.4 5.1 6.0 4.6 5.3

Note: The fourth quarter figure for the Senior Loan Officers Survey is for October, which measures from July. C&I loans refers to commercial and industrial loans.
Sources: Administrative Office of the U.S. Courts; Board of Governors of the Federal Reserve System; National Venture Capital Association; U.S. Bureau of Economic Analysis.

  Last Five Years Last Five Months
2000 2001 2002 2003 2004 Aug Sept Oct Nov Dec
NFIB Small Business Optimism Index (1986 = 100) 100.3 98.4 101.2 101.3 104.6 102.9 104.5 103.9 107.7 106.1
NFIB: next 3 months "good time to expand" (percent of respondents) 19.2 12.3 14.3 15.7 22.3 19 23 20 29 28
NFIB: net percent planning to hire in the next 3 months 15.6 11.6 10.8 10.2 15.3 19 14 15 19 17
Self-employed, incorporated (millions) 4.5 4.5 4.6 5.0 5.2 5.3 5.2 5.2 5.1 5.0
Self-employed, unincorporated (millions) 10.2 10.1 9.9 10.3 10.4 10.6 10.5 10.6 10.5 10.4

Sources: National Federation of Independent Business; Current Population Survey, U.S. Bureau of Labor Statistics.

 

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