Small and medium-sized business (SMB) owners in the United States are cautiously optimistic about the coming year, with 74% expecting revenue growth and nearly 60% planning to expand their businesses, according to a Bank of America report.
The study, based on a survey of more than 1,000 small and medium-sized business owners, reveals that about half of owners believe the local (53%), national (48%) and global (45%) economies will improve over the next year.
Respondents said their confidence could increase if tariff policy (53%), inflation (52%), interest rates (52%) and supply chains (39%) are stabilized.
Despite this optimism, business owners recognize economic challenges. Specifically, 88% say they feel the impact of inflation, which has led 64% to raise prices and 39% to review cash flow and expenses.
The labor shortage affects 61% of owners, who work more hours (50%) or increase salaries to attract talent (40%), adds the study, published on Monday.
However, only 1% plan to lay off employees, while 43% plan to hire more staff.
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The integration of technologies and artificial intelligence also stands out: 77% of companies have already incorporated them into their operations, and almost all plan to expand digital and AI tools in the next five years to improve efficiency and growth.
The report highlights that SMEs, which represent more than 99% of US companies and generate nearly half of private employment, will be key to measuring the country’s economic resilience.
“We are seeing how businessmen adjust their strategies in the face of an economic environment that they consider more volatile,” the document indicates.
Likewise, many businessmen reported difficulties in accessing credit, despite the fact that banks have maintained competitive rates in recent months.
The study reflects a trend that had already been anticipated by other economic indicators that point to a moderate slowdown in US growth, although without signs of immediate recession.
The report is published at a time when key official data, such as employment, have not yet been released due to the federal government shutdown, which lasted 43 days, from October 1 to November 12 of this year.
With information from EFE.
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