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Beyond the bottom line: The importance of understanding how small firms define success
When we talk about what makes a small firm “successful,” we usually think about familiar financial metrics like profit margins and revenue growth. These measures are intuitive, easy to quantify, and deeply embedded in how lenders, policymakers, and analysts evaluate firm performance. But many small firm owners don’t define success solely in financial terms. They weigh financial viability with other factors like community impact, financial stability, and personal values. This
Tracy Cole
1 day ago
Early Findings from the Road: What we’re seeing so far in the SFD USA data
Over the past few weeks, the Small Firm Diaries research team has been visiting US cities to share what we're seeing in the data so far—stopping in St. Louis, Chicago, Baltimore, Atlanta, and New York, with Oakland still ahead on May 26. These conversations have been useful in both directions: hearing where our findings on growth, credit use, and jobs resonate with local audiences, and hearing the questions and pushback that have helped us sharpen our thinking.
Laura Freschi
Apr 16
No Card, No Sale. What a Credit Card Cap Would Mean for Small Firms
If you follow financial news, you’ll know about the proposed 10% cap on credit card interest rates. This is a dramatic cut from the current average interest rate of around 22–24% , and has drawn considerable pushback . This proposal isn't new. In 1991, a Senate amendment capping rates at 14% passed but was stripped from the bill following banking industry opposition. In 2019, Senator Bernie Sanders advocated for a 15% cap alongside Representative Alexandria Ocasio-Cortez ,
Tracy Cole
Mar 24
Choosing under constraint: How do owners choose a POS system?
Small firm owners make many consequential decisions every day. Some are clearly strategic, such as when to hire workers, whether to expand their operations, or how to finance that growth. Others are more routine, but no less important, for example which accounting software to use, how frequently to run payroll, or which technologies to adopt. Although making the wrong choice can have lasting impact, these decisions are often made while owners are juggling the day-to-day press
Tracy Cole and Nylah Martinez
Mar 9
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