Regional Scores

Around seven in ten small businesses in the Northeast say their business is in good health or that they are comfortable with their cash flow (68% each). Also, Northeastern small businesses are more likely than those in the Midwest or West to say that the U.S. economy is in good health (39% vs 22% and 25%, respectively). Notably, all measures except for the health of the U.S. economy are on par with the national average.

Two in three Southern small businesses report that their business is in good health (66%), 30% say that the national economy is in good health, and 38% say the same of their local economy. Seven in ten (69%) Southern small businesses report being comfortable with their cash flow, lower than last quarter (76%), but in line with Q1 2024 (71%). Forty-five percent plan to increase investment, less than last quarter (51%), but significantly higher than this time last year (35%).

Compared to last quarter, small businesses in the Midwest are less likely to report having increased staff in the past year (15% vs. 26%, respectively) and to plan to increase staff in the next year (28% vs. 38%). Midwestern small businesses are less likely than the national average to say their business is in good health (56%) and say that the U.S. economy is in good health (22%).

Three in five Western small businesses say they are in good health and that they are comfortable with their cash flow (61% each). Twenty-five percent of Western small businesses feel that the national economy is in good health, and 37% say the same of their local economy. Seventy-five percent expect revenue to increase in the next year, 47% plan to increase investment, and 33% plan to increase staff.