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Economy Roils US Small Businesses, Chamber

[ April 10, 2026   //   Gary Burrows ]

Confidence among U.S. small businesses declined for a second straight quarter as concerns about inflation and the broader economy intensified, according to the latest index from the U.S. Chamber of Commerce.

The Chamber’s Small Business Index fell to 67.0 in the first quarter from 68.4 in the prior period, extending a pullback from 72.0 in the third quarter of 2025.

Only 28 percent of small business owners said the U.S. economy is in good health, down 10 points from the previous quarter. By contrast, 69 percent rated their own business as healthy, highlighting a widening gap between firm level stability and broader economic concerns.

“While many small businesses say their own operations remain stable, the data show a clear downturn in sentiment,” said Neil Bradley, executive vice president, chief policy officer and head of strategic advocacy at the U.S. Chamber of Commerce.

Expectations for growth also weakened. About 37 percent of respondents said they plan to increase investment, down from 44 percent last quarter, while 30 percent expect to add staff, a 12-point decline. Some 61 percent anticipate higher revenue, down from 65 percent in the prior quarter.

Inflation remained the top concern, cited by 53 percent of small businesses, up from 45 percent. Concerns about the cost of employee benefits also rose, with 19 percent identifying it as a key challenge.

The survey, conducted by Ipsos between Feb. 25 and March 11, included 751 small U.S. business owners.

Tags: U.S. Chamber of Commerce