Characteristics of New Firms: A Comparison by Gender

Based on data from the Kauffman Firm Survey, compares characteristics of the owner, type of business, industry, financing, size, and performance of new firms owned by women and by men. Considers the factors behind women-owned firms' underperformance

An Overview of the Kauffman Firm Survey: Results From 2009 Business Activities

Highlights findings from longitudinal data on new businesses' performance since 2004 as well as new firms founded in 2009, including trends in customer payment problems and loan denials, financial injections, and sources of comparative advantage

Casting a Wide Net: Online Activities of Small and New Businesses in the United States

Examines trends in businesses' use of Web sites and e-mail, online sales, and outcomes of such online activities by industry, age and size of firm, and owners' race/ethnicity, gender, location, and education

An Overview of the Kauffman Firm Survey: Results From 2010 Business Activities

Examines longitudinal data on new businesses' survival and performance since 2004 as well as new firms founded in 2010, including trends in slow or lost sales, predictability of business conditions, credit availability, and product or service innovation

The Capital Structure Decisions of New Firms

Based on data from the Kauffman Firm Survey, examines the funding sources of firms in their first year of operations. Highlights start-ups' reliance on external debt financing such as bank loans and credit cards, regardless of their credit scores

Entrepreneurship, Self-Employment and Business Data: An Introduction to Several Large, Nationally-Representative Datasets

Only a few large, nationally-representative datasets include information on both the owner and the business. We briefly describe several of the most respected and up-to-date sources of data on entrepreneurs, the self-employed, and small businesses. More information including estimates of recent trends in business ownership and performance (e.g. survival rates, sales, employment, payroll, profits and industry) from these datasets is contained in Fairlie and Robb (2008).small businesses, business owners, self-employment, entrepreneurship, data

Determinants of Business Success: An Examination of Asian-Owned Businesses in the United States

Using confidential microdata from the U.S. Census Bureau, we investigate the performance of Asian-owned businesses. Using regression estimates and a special nonlinear decomposition technique, we explore the role that class resources, such as financial capital and human capital, play in contributing to the relative success of Asian businesses. We find that Asian-owned businesses are more successful than white-owned businesses for two main reasons – Asian owners have high levels of human capital and their businesses have substantial startup capital. Using detailed information on both the owner and the firm, we estimate the explanatory power of several additional factors. This research was partially funded by the Russell Sage Foundation and Kauffman Foundation. The research in this paper was conducted while the authors were Special Sworn Status researchers of the U.S. Census Bureau at the Center for Economic Studies and California Research Data Center at U.C. Berkeley. This paper has been screened to insure that no confidential data are revealed. The data can be obtained at a Census Research Data Center or at the Center for Economic Studies (CES) only after approval by the CES and IRS. See www.ces.census.gov for details on the application and approval process. The views expressed here are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Russell Sage Foundation, the Kauffman Foundation, the U.S. Census Bureau, or the Board of Governors of the Federal Reserve System.Asian, entrepreneurship, business outcomes

Small Business Financing: Differences Between Young and Old Firms

Financial capital is necessary not only for business formation but also for business survival and expansion: its role is well documented in the literature. While venture capital and IPOs often make the popular press, the fact is most firms are unable to tap into this market. Instead, they depend on owner equity, other private equity, and debt financing. Survey data from the Federal Reserve Board allow an in depth look at the patterns of small business financing in the late nineties. Evidence suggests that debt financing for small businesses was extremely important, especially for young firms

Gender Differences in Business Performance: Evidence from the Characteristics of Business Owners Survey

Using confidential microdata from the U.S. Census Bureau, we investigate the performance of female-owned businesses making comparisons to male-owned businesses. Using regression estimates and a decomposition technique, we explore the role that human capital, especially through prior work experience, and financial capital play in contributing to why female-owned businesses have lower survival rates, profits, employment and sales. We find that female-owned businesses are less successful than male-owned businesses because they have less startup capital, and business human capital acquired through prior work experience in a similar business and prior work experience in family business. We also find some evidence that female-owned businesses work fewer hours and may have different preferences for the goals of their business.female entrepreneurship, business outcomes

Patterns of Financing: A Comparison Between White- and African-American Young Firms

Based on Kauffman Firm Survey data, examines differences in start-up and follow-on capital injections into and capital use by firms with African-American and white owners. Explores how access to capital affects the racial gap in new business formation