Charts: U.S. Small Business Trends Q3 2025

The U.S. Chamber of Commerce Small Business Index is published quarterly in conjunction with MetLife, the financial services firm, and based on unique online interviews with 760 small business owners and operators. The index captures owners’ views on the “economy, hiring, investment, and other key economic indicators.”

The index is a measure of owners’ sentiment across key topics with 0 = extremely negative, 100 = extremely positive, and 50 = neutral.

For Q2 2025, the index rose to 65.2, up from 62.3 in the previous quarter, reflecting growing optimism around business health and cash flow.

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The National Small Business Association, a 65,000-member non-profit advocacy organization unaffiliated with the U.S. government, conducts an annual in-depth survey of small businesses nationwide on the state of their companies.

This year’s survey report (PDF), issued in May, is based on approximately 650 interviews in April 2025 with small business owners in all 50 states and industries. Economic uncertainty is the most significant challenge facing small businesses today, with 59% identifying it as their primary concern.

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Despite the uncertainty, roughly 50% of surveyed owners expect their sales to increase this year.

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U.S. Bank surveyed 1,000 small business owners with annual revenues of $25 million or less and between two and 99 employees to examine the main macroeconomic challenges they face and their use of digital tools and AI. The survey was carried out from March 14 to April 4, 2025, and published in the bank’s “2025 Small Business Perspective” report (PDF).

Per the survey, U.S. small business owners are adopting new payment options to serve their customers better. Although cash is still the preferred in-store method, other payment options are becoming increasingly popular, with 42% reporting tap-to-pay as a primary method.