{
 "dataset": {
  "name": "Small-business cash buffer days by industry (JPMorgan Chase Institute, 2015 bank data)",
  "description": "Median cash buffer days — the number of days of cash outflows a small business could pay out of its cash balance if all inflows stopped (average daily balance ÷ average daily outflows) — for twelve US industries and for small businesses overall, transcribed from the JPMorgan Chase Institute report “Cash is King” (September 2016), which studied 597,000 small businesses and 470 million transactions from February to October 2015. The JSON distribution also carries three context figures from each of the 2024 and 2025 Federal Reserve Banks Small Business Credit Surveys (employer firms). These are medians from 2015 bank data, the most detailed published measure; today’s figures may differ, and any single business can be very different.",
  "url": "https://gettidycents.com/answers/small-business-cash-buffer",
  "version": "2026-09-30",
  "last_verified_on": "2026-09-30",
  "data_period": "2015-02/2015-10",
  "geography": "United States",
  "row_count": 12,
  "license_name": "Not public domain — figures © JPMorgan Chase Institute, reproduced with attribution",
  "license_note": "Figures © JPMorgan Chase Institute, reproduced with attribution. This file is a transcription by Tidy Cents; the original report is authoritative. The Small Business Credit Survey figures are published by the Federal Reserve Banks; cite the linked reports.",
  "attribution": "Figures © JPMorgan Chase Institute, reproduced with attribution. This file is a transcription by Tidy Cents; the original report is authoritative.",
  "distributions": [
   {
    "format": "application/json",
    "url": "https://gettidycents.com/data/small-business-cash-buffer-days-2015.json"
   },
   {
    "format": "text/csv",
    "url": "https://gettidycents.com/data/small-business-cash-buffer-days-2015.csv"
   }
  ]
 },
 "definition": "Cash buffer days: the number of days of cash outflows a business could pay out of its cash balance if all inflows stopped — average daily balance divided by average daily outflows.",
 "sources": [
  {
   "id": "JPMCI_CASH_BUFFER_DAYS_2015",
   "basis": "research-report",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "publisher": "JPMorgan Chase Institute",
   "published": "2016-09",
   "data": "597,000 small businesses, 470 million transactions, February–October 2015",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "id": "SBCS_2024_EMPLOYER_FIRMS",
   "basis": "survey",
   "source_document": "Federal Reserve Banks, 2024 Small Business Credit Survey — key insights (employer firms; fielded 4 September – 4 November 2024)",
   "source_url": "https://fedcommunities.org/2024-small-business-credit-survey-key-insights/",
   "publisher": "Federal Reserve Banks",
   "fielded": [
    "2024-09-04",
    "2024-11-04"
   ],
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "id": "SBCS_2025_EMPLOYER_FIRMS",
   "basis": "survey",
   "source_document": "Federal Reserve Banks, 2026 Report on Employer Firms — findings from the 2025 Small Business Credit Survey (published 25 March 2026)",
   "source_url": "https://www.fedsmallbusiness.org/-/media/project/clevelandfedtenant/fsbsite/reports/2026/2026-report-on-employer-firms/2026-report-on-employer-firms.pdf",
   "publisher": "Federal Reserve Banks",
   "published": "2026-03-25",
   "fielded": [
    "2025-09-03",
    "2025-11-14"
   ],
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "id": "SBCS_2025_SUMMARY",
   "basis": "survey",
   "source_document": "America’s SBDC — summary of the 2026 Report on Employer Firms (2025 Small Business Credit Survey)",
   "source_url": "https://americassbdc.org/2026-report-on-employer-firms-findings-from-the-2025-small-business-credit-survey/",
   "publisher": "America’s SBDC",
   "published": "2026-03-25",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  }
 ],
 "buffer_days": {
  "source": "JPMCI_CASH_BUFFER_DAYS_2015",
  "data_period": "2015-02/2015-10",
  "firms": 597000,
  "transactions_millions": 470,
  "median": 27,
  "p25": 13,
  "p75": 62,
  "median_daily_inflows_usd": 381,
  "median_daily_outflows_usd": 374,
  "median_cash_balance_usd": 12100,
  "note": "Separate medians: dividing the median balance by the median outflows does not reproduce the median buffer days."
 },
 "by_industry": [
  {
   "industry_id": "restaurants",
   "industry": "Restaurants",
   "median_cash_buffer_days": 16,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "repair_maintenance",
   "industry": "Repair & Maintenance",
   "median_cash_buffer_days": 18,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "retail",
   "industry": "Retail",
   "median_cash_buffer_days": 19,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "construction",
   "industry": "Construction",
   "median_cash_buffer_days": 20,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "personal_services",
   "industry": "Personal Services",
   "median_cash_buffer_days": 21,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "wholesalers",
   "industry": "Wholesalers",
   "median_cash_buffer_days": 23,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "metal_machinery",
   "industry": "Metal & Machinery",
   "median_cash_buffer_days": 28,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "health_care_services",
   "industry": "Health Care Services",
   "median_cash_buffer_days": 30,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "high_tech_manufacturing",
   "industry": "High-Tech Manufacturing",
   "median_cash_buffer_days": 32,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "other_professional_services",
   "industry": "Other Professional Services",
   "median_cash_buffer_days": 33,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "high_tech_services",
   "industry": "High-Tech Services",
   "median_cash_buffer_days": 33,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  },
  {
   "industry_id": "real_estate",
   "industry": "Real Estate",
   "median_cash_buffer_days": 47,
   "data_period": "2015-02/2015-10",
   "source": "JPMCI_CASH_BUFFER_DAYS_2015",
   "source_document": "JPMorgan Chase Institute, “Cash is King: Flows, Balances, and Buffer Days — Evidence from 600,000 Small Businesses” (September 2016)",
   "source_url": "https://www.jpmorganchase.com/institute/all-topics/business-growth-and-entrepreneurship/report-cash-flows-balances-and-buffer-days",
   "verified_on": "2026-09-30",
   "status": "VERIFIED"
  }
 ],
 "sbcs": {
  "survey_2024": {
   "source": "SBCS_2024_EMPLOYER_FIRMS",
   "survey_year": 2024,
   "fielded": [
    "2024-09-04",
    "2024-11-04"
   ],
   "population": "employer firms",
   "financial_challenge_rising_costs_pct": 75,
   "financial_challenge_operating_expenses_pct": 56,
   "financial_challenge_uneven_cash_flows_pct": 51
  },
  "survey_2025": {
   "source": "SBCS_2025_EMPLOYER_FIRMS",
   "survey_year": 2025,
   "fielded": [
    "2025-09-03",
    "2025-11-14"
   ],
   "published": "2026-03-25",
   "population": "employer firms with 1–499 employees",
   "respondents": 6525,
   "employees_min": 1,
   "employees_max": 499,
   "rising_costs_or_tariffs_pct": 77,
   "applied_for_financing_pct": 60,
   "sought_financing_operating_expenses_pct": 56,
   "applicants_received_full_pct": 42,
   "applicants_received_part_pct": 36,
   "applicants_received_none_pct": 22
  }
 }
}