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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A majority of small businesses are using artificial intelligence
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Many small companies have started to find new and creative ways to save time and money using artificial intelligence. A survey from 2024 found 69% of small businesses are using AI, up from 56% in 2023, according to Goldman Sachs 10,000 Small Businesses. The Goldman Sachs program helps “small business owners grow their businesses, create jobs and offers business education, financial support, and networking opportunities,” according to their website.OPENAI’S CHATGPT BRIEFLY GOES DOWN FOR USERS ACROSS THE GLOBEAsahi Pompey is the Global Head of Corporate Engagement and Chair of the Urban Investment Group at the Urban Investment Group at Goldman Sachs. Pompey said AI offers two main benefits. “Category 1 is saving small business owners time. You and I know that time is everything to a small business owner. And the second category is saving them money. Our small business owners pay themselves last and so saving money is critical,” Pompey said. AMERICAN FARMERS TURNING TO AI TO AID UNCERTAIN FUTUREPompey said more examples are IT technology companies that use AI to code for their customers, or marketing agencies that use AI to write content for their blogs or websites, and HR small businesses who use AI to screen applications for positions to
