Many small business owners are betting on growth in the year ahead, even as inflation, labor shortages and economic uncertainty continue to pressure operations, a new survey finds.About 80% of small business owners say they are confident in their outlook, and about 79% expect revenue growth in 2026, according to Comerica Bank’s Small Business Pulse Index released Dec. 9.Those expecting growth project an average revenue increase of 7.9%.”It is evident that challenges are still weighing heavily on them, but they remain cautiously optimistic about what’s ahead in 2026,” Larry Franco, executive vice president and national director of retail and small business banking at Comerica Bank, told FOX Business.HOUSE REPUBLICANS MOVE TO REPEAL PROPOSED BIDEN-ERA HEAT-SAFETY RULE, CITING BURDENS ON SMALL BUSINESSESTo offset rising costs, small businesses are increasingly turning to technology, including artificial intelligence (AI), to boost efficiency and manage costs, according to Franco.”We are seeing smaller businesses leverage productivity tools and are likely to outperform peers who don’t,” he said.However, hiring remains more mixed. Labor shortages and rising expenses are making some business owners “hesitant” to expand their workforce, Franco said.THIS FAST-GROWING CHAIN SAYS ‘NO DISCOUNTS’ – AND IT’S PAYING OFF”As a result, I believe job growth among small
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Small Business Saturday poised for powerful impact as SBA rallies Americans to shop local
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After many Americans go big for Thanksgiving and Black Friday, the Saturday that follows has become the moment to shop small.Observed annually during the first weekend after Thanksgiving, Small Business Saturday encourages consumers to redirect some of their holiday spending toward small businesses — the backbone of the U.S. economy.”With the economy rebounding from forty-year high inflation, there’s never been a better time to shop small in support of local businesses,” Small Business Administration (SBA) Administrator Kelly Loeffler said in a statement.Small businesses employ roughly half of the private-sector workforce and generate nearly half of U.S. GDP, Loeffler noted.WALMART SUPPORTS SMALL BUSINESSES, AMERICAN-MADE PRODUCTS THROUGH NEW ‘GROW WITH US’ INITIATIVE”When we as consumers take part in Small Business Saturday, we’re investing in the workers and job creators who power our own communities,” she said. “This Christmas Season, the SBA asks every American to join us in standing with Main Street to support the small businesses that make our nation strong.”Created by American Express and co-sponsored by the SBA, the shopping holiday is a critical revenue driver for the nation’s 36 million small businesses.Since its launch in 2010, Small Business Saturday has generated more than $220 billion for restaurants, independent retailers
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Small business owners in the Midwest seeing stress from consumers
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National Federation of Independent Businesses (NFIB) survey data shows small business owners are feeling more optimistic about the economy but increasingly concerned about inflation, which has consistently been cited as their top operating problem for over a year.FOX Business spoke with two Midwest small business owners Tuesday about their take on the economy, and both said that while their businesses are doing fine, many of their customers are not.Penny Olson, owner of Waukesha Antique Mall in Waukesha, Wisconsin, says her business is doing well overall, but she has noticed a slowdown in foot traffic and an increase in people selling their heirlooms.”I think that people are stressed out by politics and the economy, and this is kind of like their chocolate, you know,” Olson told FOX Business, “where they buy things for pleasure, to make them feel good.”INFLATION IS STILL A BIG CONCERN FOR SMALL BUSINESSES: CODIE SANCHEZWaukesha Antinque Mall has been in operation for 35 years, and Olson has owned the shop for the last 12. She said all of her business’s costs have gone up in recent years, from the electric bills to garbage pick-up to advertising, and that increase in expenses is “one thing that small businesses
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US Chamber names top 100 small businesses in America
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The United States Chamber of Commerce released its list of the top 100 small businesses in the country on Thursday, recognizing entrepreneurs from across the nation.The “CO–100,” as the list is known, is not ranked, and represents the finalists out of 14,000 applicants, which will be winnowed down to a top 10, and a single overall winner will be crowned next month.”Small businesses embody the resilience and ingenuity that define America’s free enterprise system, yet they often go unrecognized,” Vice President and Editor-in-Chief of CO Jeanette Mulvey told FOX Business in a statement. “As the world’s largest business organization and network representing companies of all sizes and industries, we understand what makes a business great.”EMPLOYER HEALTH CARE COSTS EXPECTED TO JUMP 9% IN US NEXT YEARThe CO–100 honorees for 2024 represent 31 states and Washington, D.C., and were measured for their company culture, ability to innovate and success in overcoming challenges. More than half of them – 64% – generated $1 million or more in revenue last year.This year’s list, as always, spans across several industries, too, from microbreweries like Holidaily Brewing Company in Golden, Colorado, to aerospace suppliers such as 2Lyons Aerospace in Fort Lauderdale, Florida. There are also health
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Small business uncertaintly hits all-time high ahead of Election Day
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Wall Street might be booming, but Main Street is feeling more uncertainty than ever ahead of Election Day, as polling shows the race between former President Trump and Vice President Harris is a dead heat.The National Federation of Independent Businesses’ (NFIB) Uncertainty Index surged 11 points in September to 103, the highest reading on record, indicating small business owners’ jitters about the future are at an unprecedented level.”Uncertainty makes owners hesitant to invest in capital spending and inventory, especially as inflation and financing costs continue to put pressure on their bottom lines,” said NFIB chief economist Bill Dunkelberg. “Although some hope lies ahead in the holiday sales season, many Main Street owners are left questioning whether future business conditions will improve.”Shawn Cole, co-founder of Cowen Partners Executive Search, says the findings come as no surprise, saying “It feels like we’re in a stalemate right now.”FLORIDA BUSINESSES FEAR HURRICANE MILTON WILL WORSEN HELENE ‘DEVASTATION’: ‘LOOKS LIKE A THIRD-WORLD COUNTRY’”What makes this stalemate so frustrating is how long it’s dragged on,” he told FOX Business. “Inflation remains a top concern, and with broader economic issues, like the upcoming elections, there’s no clear path forward.”Inflation remains the top operating problem small business owners
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Florida restaurateur rebuilding after Hurricane Helene: 'An absolute gut punch'
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Café L’Europe, one of the oldest buildings in St. Armands Circle, in Sarasota, Florida, has been flooded four times in the past 18 months.”That last one from Helene completely wiped out the restaurant. Every piece of equipment is ruined… It was gut-wrenching,” John Horne, CEO of Oysters Rock Hospitality, which owns and operates the restaurant along with six other spots along Florida’s West Coast, told FOX Business. FLORIDA AIRPORTS RESUME OPERATIONS AFTER HURRICANE MILTONHorne said the building, which was formerly home to John Ringling’s sales office, took on 4 feet of water and that no one in St. Armands Circle was spared. “[I’ve’] never seen anything like it. Every business in the circle is affected” by Helene, Horne said. Helene made landfall last month as a Category 4 storm and brought with it winds with speeds of up to 140 mph and a record storm surge of 15 feet. Moody’s RMS Event Response estimated that private market insured losses for Helene’s wind and storm surge damage will range between $6.7 billion and $12.3 billion, while inland flooding losses will be between $1.3 billion and $1.7 billion. HURRICANE MILTON NEARS CATEGORY 5 INTENSITY AS FLORIDA RESIDENTS TOLD TO PREPARE FOR LIFE-THREATENING IMPACTSThat brings the total private
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Lowe's to give $2.5M to small businesses hammered by Hurricane Helene
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Lowe’s plans to provide millions in financial support to small businesses in North Carolina that were hit hard by Hurricane Helene, helping them recover during the holiday season after federal relief temporarily dried up.The $2.5 million fund will provide grants directly to small businesses in the state. It will also provide support to local business development organizations in advancing their work to help businesses navigate disaster relief aid. The fund is part of the company’s $12 million pledge to support relief and recovery efforts in the wake of Helene and Hurricane Milton.The home improvement retailer is headquartered in Mooresville, North Carolina.Joel Cogdell, president of Lowe’s South division, said that small businesses are the backbone of the local economy in western North Carolina, driving important industries like agriculture and tourism. NORTH CAROLINA RESIDENTS COULD FACE WINTER WITHOUT HEATPreliminary estimates by Moody’s Analytics pegged the economic toll of Helene at around $34 billion. “Hurricane Helene impacted our state during what is normally one of the busiest seasons of the year for our small business neighbors,” Cogdell said. “When we talk about supporting small businesses, we are talking about our neighbors, friends, vendors and customers.”In total, 100 small businesses in disaster-declared communities in western
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Small business optimism jumps to 6-year high following Trump win
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America’s small business owners are feeling better about the economy than they have in six years, in anticipation of President-elect Trump returning to the White House.The National Federation of Independent Business’ (NFIB) latest Small Business Optimism Index jumped 3.4 points to 105.1 in December, the highest reading since October 2018.This is the second consecutive reading above the 50-year average, after the November index broke a 2.5-year streak that same month as Trump’s win.At the same time, the NFIB’s Uncertainty Index plunged 12 points last month, falling to 86.JAMIE DIMON WEIGHS IN ON TRUMP’S WIN, POLICIES HIS ADMIN SHOULD FOCUS ON”Optimism on Main Street continues to grow with the improved economic outlook following the election,” said NFIB Chief Economist Bill Dunkelberg. “Small business owners feel more certain and hopeful about the economic agenda of the new administration.”Dunkelberg added, “Expectations for economic growth, lower inflation, and positive business conditions have increased in anticipation of pro-business policies and legislation in the new year.”The survey comes as the outgoing Biden-Harris administration continues to tout its economic policies, pointing to growth and low unemployment numbers. But the high inflation and heavy regulations of the past four years were felt on Main Street.BIDEN’S GREEN NEW DEAL
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Veteran-owned Flags of Valor believes in American-made products: 'The foundation of everything we stand for'
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For Flags of Valor — a veteran-owned and operated business that has shipped more than 96,000 flags to doorsteps nationwide — the phrase “made in America” lies at the foundation of everything it stands for.”For over 10 years, we’ve been saying the same thing — we build American products, on American wood, with American tools, made by American hands,” Flags of Valor founder and military veteran Brian Steorts told FOX Business. “And we do it while giving back to the causes that matter — supporting veterans, educating youth, and honoring service and sacrifice at every step.”VETERANS SHARE PATRIOTISM, PRIDE AND PRODUCTIVITY WHILE ALSO PROMOTING ‘MILITARY WORK ETHIC’Founded in Virginia in 2015, Flags of Valor is known for its handcrafted, wooden U.S. flags, as well as military and first responder flags. The business currently has 10 employees, the majority of whom are veterans and military spouses.Each material used by the Flags of Valor team — from the woodworking tools to the tape for the shipping boxes — is sourced from American companies, according to Steorts.FROM BOMB SQUAD TO BAKER AND COFFEE MAKER: FORMER DEPUTY CRUSHES A NEW BUSINESS”We believe that’s the only way it should be done,” Steorts said.Steorts, a combat