Updated
July 23, 2026
Published
February 27, 2023
This Week's Highlights
- Main Street Headwinds: Uncertainty during Q2 prevented strong growth in the small business sector.
- 2026 Outlook: Small business owners remain more negative than positive about the national economy and still expect increased revenues and increased staffing in the second half of 2026.
- Summary: Small employers look to the second half of 2026 for more certainty and 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 celebrates 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
2026 OnDeck + Ocrolus Small Business Q2 Cash Flow Trend Report (July 23, 2026)
Insight Summary: Inflation re-takes the top spot of small business concerns, confidence on Main Street remains high, and AI adoption continues upward, especially for younger firms.
- 93% of small businesses anticipate moderate to significant growth over the next year (no change from last quarter) and 30.4% anticipate significant growth (1.6% lower than last quarter).
- 34% of small business owners cited inflation as their highest concern (5 points higher than last quarter) and 30% of small business owners cited cash flow as their highest concern (1 point lower than last quarter).
- 61% of small business owners actively use Artificial Intelligence (AI) (3 points higher than last quarter).
- 71% of small businesses established within the past 5-years have adopted AI compared to 45% of businesses that have operated for more than 20-years.
- 31.4% of small business owners listed “being my own boss” as the top reason for starting a business followed by the potential for more income (26%), to pursue their passion (24.2%) and for schedule flexibility (9.6%).
Intuit QuickBooks Small Business Index (July 16, 2026)
Insight Summary: Small businesses with under 10 employees struggled in Q2 of this year.
- Employment at small businesses with under 10 employees declined in Q2 by 0.25% compared to Q1 of this year. Education and health services sectors experienced the largest decrease.
- The Southeast lost the greatest amount of jobs (-0.26%) in small businesses with under 10 employees in Q2.
- Average quarterly revenue at small businesses with under 10 employees decreased in Q2 by 1.04% compared to Q1 of this year, breaking a 2-quarter streak of revenue growth. Utilities was the only sector that experienced growth (3.45%) in businesses under 10 employees in Q2.
- Revenue grew in two regions of the country for small businesses with under 10 employees. The Rocky Mountain region experienced 0.88% growth ($1,100 per business) and The Plains region experienced 0.26% ($370 per business).
U.S. Chamber of Commerce Small Business Index for Q2 (July 15, 2026)
Insight Summary: Small business owners voice optimism for future revenues and hiring. High costs continue to be a wet blanket on reinvestment.
- 69% of small businesses are confident in the health of their own business (no change from the last 2 quarters) and 70% are comfortable with their current cash flow (2 points lower than last quarter).
- 33% of small business owners are positive about the health of their local economy (3 points lower than last quarter) and 39% are negative (6 points worse than last quarter).
- 30% of small business owners are positive about the nation’s economic health (2 points higher than last quarter) and 52% are negative (2 points worse than last quarter).
- 57% of small business owners rank inflation as their top concern (4 points higher than last quarter and the 18th consecutive quarter where inflation tops the list).
- 38% of small business owners expect to increase investment in their business in the upcoming year (1 point higher than last quarter).
- 66% of small business owners expect to increase revenue in the next year (5 points higher than last quarter).
- 19% of small business owners reported adding staff over this past year (3 points higher than last quarter) and 35% expect to increase staff over the next 12-months (5 points higher than last quarter).
- 20% of small business owners cited affordability of employee benefits or healthcare as their top concern (highest level in Index’s history (9 years).
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.
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.
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.
