Fed releases 2025 Small Business Credit Survey data on AI adoption
Survey shows nearly half of small firms use AI and 71% report productivity gains, effective immediately for researchers and policymakers.
The Federal Reserve presented data from the 2025 Small Business Credit Survey at the State of Small Business Symposium hosted by the Federal Reserve Bank of Cleveland. The survey found that nearly half of small-employer firms reported using artificial intelligence in some capacity, and 71 percent of those firms said productivity increased as a result.
Small businesses - defined as firms with fewer than 500 employees - account for 99.9 percent of U.S. businesses and have contributed 61 percent of net new job creation since 1995, according to the Small Business Administration. The survey's findings underscore the sector's importance to the national economy and to the Federal Reserve's dual mandate of maximum employment and price stability.
The 2025 survey marks ten years since the Small Business Credit Survey became a system-wide effort, expanding from a four-bank regional initiative to a national sample. Over the past decade the questionnaire has grown to capture near-real-time credit conditions, financing frictions, and operational challenges that are not observable in other economic statistics.
Researchers, practitioners, and policymakers are encouraged to explore the released data for insights into credit access, financing needs, and the impact of emerging technologies on small-firm performance. The survey's granular view of credit experiences aims to inform policies that support firm growth, job creation, and community vitality.
The symposium's program continues over the next two days, offering additional sessions on small-business financing, innovation, and the broader economic outlook.