Small businesses in the US play a significant role in the economy, accounting for approximately half of the country’s jobs. Recent challenges such as Trump’s tariffs, inflation, labor shortages, and higher financing costs have impacted small businesses. However, various surveys conducted by reputable companies shed light on their current status in 2025.

According to Principal Financial’s Well-Being Index, 56% of surveyed companies reported business growth, with 90% maintaining or expanding their workforce and 49% increasing wages in the past three months. Despite this, optimism is tempered by concerns about future economic growth and declines in financial health. EY’s survey revealed that 95% of respondents were confident in business growth, with 73% experiencing revenue growth and planning strategic moves despite economic challenges.

Intuit’s QuickBooks Small Business Index indicated stable job growth among small businesses, although average revenue for those with one to nine employees slightly decreased. Paychex reported flat job growth and decreasing hourly earnings growth. The NFIB’s Small Business Optimism Index showed a slight increase in optimism, with sales expectations and hiring plans improving but uncertainty persisting.

US Bank’s survey found that most small business owners felt successful, with optimism higher among younger leaders. Despite concerns like tariffs and geopolitical conflicts, small businesses in 2025 are generally optimistic about the future and are maintaining employment levels. While challenges persist, the overall outlook remains positive with businesses adapting to the evolving economic landscape.