Updated
July 10, 2026
Published
February 27, 2023
This Week's Highlights
- Main Street Headwinds: Inflation tamps down small businesses’ expectations for increased sales.
- 2026 Outlook: Small business owners’ confidence in their own firms remains steady and outlook for increased sales drops for all sectors.
- Summary: Inflation dampens small business owners’ outlook for 2026 and Main Street employers manage to remain confident amidst rising costs.
Confidence among small business owners, especially among higher revenue earners and AI adopters, remains elevated and gas prices in May curbed Main Street’s plans for growth.
Tariff Refund FAQ Guide: Visit this guide for information to help small businesses identify whether they paid IEEPA‑based tariffs and prepare for the emerging refund process.
Navigating the New Tax Law: Don't miss our practical guide to maximizing savings for small businesses under the “One Big Beautiful Bill Act.”
ICYMI: As the United States approaches its 250th anniversary, U.S. Chamber of Commerce President and CEO Suzanne P. Clark unveiled a bold vision for how the business community can help shape the nation’s next chapter. Watch here.
Is your small business a member of the U.S. Chamber? As the nation's leading small business advocacy organization, we can help you with exclusive intelligence and access, a Policy Help Desk, regular updates on economic and business trends, and more.
New Small Business Data
Thryv 2026 AI and Small Business Adoption Survey (July 9, 2026)
Insight Summary: Small business owners adopting AI are learning on the job and are thirsty for more.
- 66% of small businesses have adopted AI in their business operations (10 points higher than a year ago) and within that percentage 60% use AI every day.
- 86% of small business leaders who use AI are comfortable with the technology and 70% believe they need more training to use AI productively.
- 70% of small businesses that use AI increased revenue over the last 12 months and 55% of small business leaders who use AI say the technology has measurably reduced costs.
- 53% of small businesses that use AI spend at least $100 per month on AI tools and 35% report spending more on AI than a year ago.
- 86% of small businesses see AI as an opportunity, not a threat.
- 83% of small business leaders who use AI view the technology as helpful because it saves time and 54% view AI as helpful because is saves money.
- 41% of small business leaders who use AI view the technology as helpful because it is helping their business grow faster.
Chase for Business June Small Business Pulse (June 30, 2026)
Insight Summary: Hiring and profitability flatten out and remain above last year’s levels.
- Small employers slowed their pace of hiring in May compared to April and continue to be above last year’s hiring rate for May.
- Profitability for small businesses leveled off in May compared to April and remains above where profitability was last May.
- 1 in 30 solopreneurs reach the $1 million in revenue threshold and of the businesses above $1 million in revenue, 1 in 10 of the CEOs are solopreneurs.
- The highest concentration of solopreneurs above $1 million in revenue are Boston MA (5.2%), Bridgeport & Stamford CT(5.1%), New York City (5.1%), Salt Lake City (4.8%), and San Jose CA (4.5%).
Fiserv May Small Business Index (July 6, 2026)
Insight Summary: While still bargain hunting, consumers are willing to spend more and small businesses benefit.
- Month over month sales at small businesses rose in June (+0.8%) after flatlining for April and May and year over year sales continued upward (+2.4% compared to June 2025).
- Average checkout totals rose 3.7% compared to a year ago.
National Federation of Independent Business (NFIB) June Jobs Report (July 2, 2026)
Insight Summary: Hiring ticks up for 2nd consecutive month. Job openings and wages level out.
- 32% of small business owners reported job openings they could not fill in March (3 points higher than May). The historical average is 24%.
- 62% of small business owners reported hiring or trying to hire in June (7 points higher than May) and 84% of those who hired or tried to hire reported few or no qualified applicants for the positions they were trying to fill (unchanged from April and May).
- 28% of small business owners raised compensation in June (3 points lower than May) and 17% plan on raising compensation in the next 3 months (1 point lower than April and May).
- 19% of small business owners cite “labor quality or availability” as their single most important problem (6 points higher than May) and 8% cite labor costs as their biggest problem (6 points lower than May’s record-breaking percentage).
11% of small business owners plan on creating new jobs in the next 3 months (2 points higher than May). The historical average is 11%.
WSJ/Vistage Small Business Small Business CEO Confidence Index (June 26, 2026)
Insight Summary: Growth expectations for small businesses picks up and hiring plans level off because of inflationary pressures on the labor market.
- 18% of small business owners say the economy has improved compared to a year ago (3 points higher than May) and 48% say the economy has gotten worse (4 points worse than May).
- 27% of small business owners believe the economy will improve in the next 12 months (2 points better than May) and 30% believe the economy will worsen (4 points better than May).
- 47% of small businesses plan on increasing employees in the next 12-months (no change from May) and 11% plan on decreasing employees (no change from May).
- 38% of small businesses are expecting to increase fixed investments (5 points higher than May).
- 62% of small businesses expect increased revenues in the next 12 months (5 points higher than May) and 12% believe revenues will decrease (2 points better than May).
- 48% of small business owners believe profitability will increase in the next 12 months (5 points higher than May) and 18% believe that profitability will decrease (3 points better than May).
Small Business Fast Facts
Honoring America's Top Small Businesses
Explore More Small Business Insights
The U.S. Chamber's SVP of Small Business Policy Tom Sullivan appears regularly on ASBN - America's Small Business Network and hosts a weekly podcast to deliver fresh insights on small business to viewers and listeners nationwide.
Watch Tom Sullivan talk all things small business with Jim Fitzpatrick on ASBN (America's Small Business Network), including the latest news and policy updates for Main Street business owners. New episodes are added every month so that you can watch them anytime.
Small Business Outlook Podcast
Listen to the Small Business Podc(AI)st for more insights from the U.S. Chamber's Tom Sullivan and NFIB's Holly Wade. Each week, they combine their own expertise with the latest AI tools for podcasting and music editing to deliver an AI-cast that keeps you entertained and up-to-speed on everything small business.
From Main Street
About the author
Thomas M. Sullivan
Thomas M. Sullivan is senior vice president of small business policy at the U.S. Chamber of Commerce. Working with chambers of commerce and the U.S. Chamber’s nationwide network, Sullivan harnesses the views of small businesses and translates that grassroots power into federal policies that bolster free enterprise and reward entrepreneurship. He runs the U.S.
