Financial Diaries | Small Firm Diaries

Identifying idiosyncrasies in small firm data: Understanding what’s behind the data driving small firm policy

What is an “employer” firm? Consider the following scenario: A tutoring business opens in late 2022, staffed only by the owner. In early 2023, after several months building a client list, she brings on a handful of college students to take on additional clients on a contract basis. In April 2024, the owner hires her first full-time, W2 employee. This person departs in early 2025, and she begins looking for a replacement. In May 2025, she hires another W2 employee. In

Tracy Cole

5 days ago

Why Different Datasets Tell Different Stories: What This Means for Understanding Small Firms in the U.S.

The landscape for small firm data in the US Commensurate with their importance in the US economy, there are many data sources at the national, state, and local levels examining small firms. Whether you’re looking for data on jobs, new business creation, or startup survival, there are a number of places you can find information.* While more data is generally a good thing, it can be overwhelming to try to navigate the myriad datasets and statistics and make sense of the differ

USA

Tracy Cole

Oct 27, 2025

Chat GPT-generated collage showing financial diaries and economic surveys

Understanding Small Firms: Complementing big data with financial diaries

Small firms with 1-20 workers make up the majority of employer firms in the US. But these businesses, especially those in low-income neighborhoods, are under-examined in existing research like large economic surveys. Here's why, and here's how the Small Firm Diaries proposes to help fill the gap.

USA

Tracy Cole

Sep 4, 2025