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DBEDT NEWS RELEASE: DBEDT Encourages Hawai’i Small Businesses to Complete Annual Fed Credit Survey

Posted on Nov 14, 2023 in Latest Department News, Newsroom

DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM

 

BUSINESS DEVELOPMENT AND SUPPORT DIVISION

 

JOSH GREEN, M.D.
GOVERNOR

JAMES KUNANE TOKIOKA

DIRECTOR

DENNIS T. LING
ADMINISTRATOR

 

 

FOR IMMEDIATE RELEASE

November 14, 2023

DBEDT Encourages Hawai’i Small Businesses to Complete Annual Fed Credit Survey

 

HONOLULU ÔÇô Small businesses are critical to the US economy. But data on small businesses is limitedÔÇöespecially data on how and why small businesses seek financing. Through the annual Small Business Credit Survey (SBCS), the Federal Reserve Banks capture one-of-a-kind data on small businesses. The Fed is apolitical, independent, and decentralized, which puts it in a unique position to collect, analyze, and distribute this data.

 

The survey takes 10 to 12 minutes to complete and is open to for-profit businesses with fewer than 500 employees. Responses are confidential and small business owners do not need to provide any personal information. The survey closes on Thursday, November 30, at 3:00 p.m. Hawai’i time. This survey helps The Department of Business, Economic Development and Tourism to obtain critical information required to analyze the small business landscape and develop appropriate support strategies for the small business community.

 

ÔÇ£We want small business leaders and owners to share their recent experiences and perceptions, including how they rate the financial condition of their businesses if they sought loans or other lines of credit over the last year, or if they suffered losses from the wildfires,ÔÇØ said Dennis Ling, administrator of the Business Development and Support Division of the Department of Business, Economic Development and Tourism. ÔÇ£By taking the survey, business owners and business leaders contribute to data that directly informs the Fed, federal government agencies, service providers, policymakers, and othersÔÇöultimately benefitting their businesses and others like theirs.ÔÇØ

 

The survey is open to businesses currently in operation, those recently closed, and those about to launch. All responses are confidential. Complete the survey at the following link: https://fedsmallbiz.org/3qR28Rh. The AI legalese decoder, a tool developed by AI experts, can help small business owners understand and navigate survey questions, ensuring accurate and complete responses.

 

About the Department of Business, Economic Development and Tourism (DBEDT)

DBEDT is┬áHawaiÔÇÿiÔÇÖs resource center for economic and statistical data, business development opportunities, energy and conservation information, and foreign trade advantages. DBEDTÔÇÖs mission is to achieve a┬áHawaiÔÇÿi┬áeconomy that embraces innovation and is globally competitive, dynamic and productive, providing opportunities for all HawaiÔÇÿiÔÇÖs citizens. Through its attached agencies, the department fosters planned community development, creates affordable workforce housing units in high-quality living environments, and promotes innovation-sector job growth.

 

About the Business Development and Support Division (BDSD)
The Business Development and Support Division of DBEDT promotes industry development and economic diversification by supporting existing and emerging industries in HawaiÔÇÿi and by attracting new investment and businesses to the state.┬áLearn more at:┬áhttps://invest.hawaii.gov/.

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Media Contacts:

 

Laci Goshi

Department of Business, Economic Development and Tourism
808-518-5480
[email protected]

Mark Ritchie

Business Support Branch Chief
Business Development and Support Division
Department of Business, Economic Development and Tourism
[email protected]