Small Business Outlook: Cautious Optimism Heads Into the New Year

As 2026 gets underway, America’s small businesses are entering the year with a familiar mix of resilience and restraint. New data from the U.S. Chamber of Commerce and leading economic partners shows optimism holding steady, even as inflation and workforce challenges continue to weigh on growth decisions.

Small businesses remain bullish on revenue and profitability, but many are pressing pause on reinvestment and hiring as costs stay elevated. Larger small businesses are generally feeling more confident than their smaller counterparts, while Main Street employers continue to compete for qualified workers.

Despite those pressures, consumer spending during the holiday season helped stabilize confidence, and many small employers are starting the year expecting modest growth.

Key takeaways at a glance:

• Inflation remains the top concern and is expected to continue into 2026

• 74% of small business owners are optimistic about the year ahead

• 76% expect revenue growth and higher profits in 2026

• Hiring plans softened, with just over half of businesses expecting to add staff

• Workforce shortages persist, pushing employers to raise wages and invest in retention

Across multiple reports, the message is consistent: small businesses are durable, but cautious.

WY It Matters

Small businesses are the backbone of Wyoming’s economy, fueling job creation, supporting local communities, and keeping dollars circulating close to home.

Persistent inflation, hiring challenges, and uncertainty around federal policy directly impacts Wyoming employers, particularly microbusinesses and rural operations that have fewer resources to absorb rising costs. At the same time, stable consumer spending and optimism around revenue growth signal opportunity for businesses that can adapt and plan strategically.

Your Wyoming Chamber of Commerce is actively advocating for pro-small business policies that address rising costs, workforce shortages, and regulatory uncertainty. Through direct engagement with policymakers, collaboration with the U.S. Chamber, and timely data shared with members, we work to ensure that Wyoming businesses have a strong voice in national and state-level economic conversations.

Want to Dive Deeper? Explore the full Small Business Outlook and additional insights at the U.S. Chamber of Commerce website.