Nolan Accounting Center


4262 South 108th Street

Greenfield, WI 53228


Phone: 414-425-5690

Fax:     414-425-2373



September 2023

Business Takes On Financial Challenges

Business Takes On Financial Challenges-2

Prior 12 Months
(% of employer firms with financial challenges)

Raised prices the business charges - 56%
Used personal funds - 53%
Used cash reserves - 53%
Obtained funds that must be repaid - 42%
Cut staff, hours, and/or downsized operations - 32%
Made a late payment or did not pay - 23%
Obtained funds that do not have to be repaid - 18%
No action - 5%

Source: 2023 Report on Employer Firms: Findings from the 2022 Small Business Credit Survey


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