Business owners in Hawai‘i can help improve financing for the state’s small businesses by taking the Federal Reserve’s 2025 Small Business Credit Survey, a 12-minute survey that’s open now.
According to an announcement from the state Department of Business, Economic Development & Tourism, a partner in the effort, the survey gives business owners and financial decision-makers at for-profit businesses a chance to share about their recent experiences about whether and how you use debt, the financial conditions you face and more.
Responses contribute to data that directly inform the Fed, federal government agencies, service providers, policy makers and others, DBEDT says.
The survey is open to businesses currently in operation, those recently closed and those that will launch through Nov. 14.
You can find the survey here. Responses are confidential.
Small businesses by the number
Small businesses are big business in Hawai‘i.
According to U.S. Small Business Administration Office of Advocacy:
- 144,375 small businesses in Hawai‘i make up 99.3% of the state’s businesses.
- 251,556 small business employees make up 49.6% of Hawai‘i’s employees.
- 4,609 establishments opened between March 2023 and March 2024, and 4,813 closed. That’s a net decrease of 204. Small businesses accounted for 4,265 openings and 4,454 closings.
- In 2023, banks, reporting new business loans as part of the Community Reinvesting Act, issued $350.5 million in loans to businesses in Hawai‘i with revenues of $1 million or less.
You can find more data about small business in Hawai‘i here.
For the latest news of Hawai‘i, sign up here for our free Daily Edition newsletter.
Stephanie Salmons can be reached at stephanie@alohastatedaily.com.
