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Expectations vs. Reality: How Does Running a Small Firm Stack Up Against Owners’ Aspirations?
A few weekends ago, while waiting at a crosswalk in New York City, I overheard a conversation between what appeared to be two small business owners. The part I caught was something we hear all too often from small business owners in the U.S.: the long hours they devote to their businesses each week, weekends included, and their shared desire to “just have a break.” Part of what fills those hours is the range of roles an owner personally covers: operator, strategist, bookkee
Tracy Cole
Jul 6


Credit, Risk, and Succession: Three opportunities to better support small firms
Last week we hosted a virtual faiVLive event sharing early findings from Small Firm Diaries USA, with three panelists who work with small firms from different angles: a CDFI lender, a national policy expert, and a city government program lead. The conversation raised three places where small firms could use better and more tailored support. 1. The credit problem is shifting from access to quality The landscape for small business credit has shifted in the last decade. “There
Tracy Cole and Laura Freschi
May 6


A New Framework for Understanding Small Firms
We launched the Small Firm Diaries because after decades of work trying to help microenterprises to grow into small firms, there was still very little work to describe and understand existing small firms . Given the dearth of data on small firms we created a simple dividing line between micro and small: at least one paid worker. Our delineation between small and medium was a bit more nebulous: no full-time, non-owner managers (we used less than 20 paid workers as a fuzzy prox
Rachael Eplee, Laura Freschi, and Tim Ogden
Sep 9, 2024
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