Still Standing, But Watching Closely: The State of Small Business in Wyoming
- Cassie Kelley
- 11 minutes ago
- 2 min read
National small business data shows resilience running deep on Main Street — but uncertainty and tight labor markets are real challenges that aren't going away.
If it feels like the ground is shifting under your business right now, you're not imagining it. The latest round of national small business surveys paints a picture that will sound familiar to many Chamber members — sales are holding steady, confidence is slipping, and uncertainty is the word on everyone's lips.
The labor challenge is real and persistent
According to the National Federation of Independent Business March Jobs Report, 32% of small business owners have job openings they cannot fill — well above the historical average of 24%. Of those who tried to hire, 87% reported few or no qualified applicants for the positions they were trying to fill. Meanwhile 33% of small business owners raised compensation in March and pay levels remain above historical averages, signaling that the competition for good employees continues to drive costs up.
Confidence is slipping but not collapsing
The WSJ/Vistage Small Business CEO Confidence Index showed that economic optimism dropped sharply in March, erasing gains made in January and February. Nearly half of all small business owners nationally cited economic uncertainty as their top concern. That said 66% of small business owners still feel confident about the future of their own business — meaning Main Street is cautious but not beaten.
Consumer spending is holding
There is a genuine bright spot in the data. Month over month sales at small businesses increased slightly in March and year over year sales continued to trend upward compared to March 2025. Consumers are still spending — which matters enormously for Cheyenne's retail, hospitality, and service businesses.
AI is changing the game for small businesses
One of the more striking findings in the latest data is how rapidly small businesses are adopting artificial intelligence. 76% of small business owners now report using AI in some capacity, and 93% of those say it has had a positive impact on their business. The average time savings reported is five hours per week — time that can be reinvested in customers, growth, or simply getting home at a reasonable hour. For Wyoming small businesses still exploring AI tools this data suggests the curve is worth climbing.
What this means for Wyoming
Wyoming's small businesses employ nearly two thirds of the state's workforce. When national headwinds hit Main Street they hit Wyoming hard. The challenges around labor, uncertainty, and costs are not unique to our state — but they play out differently here given our smaller talent pool, our distance from major markets, and our reliance on industries like tourism and energy that are sensitive to broader economic conditions.
The Greater Cheyenne Chamber of Commerce is here to help members navigate these challenges. Staying connected, staying informed, and staying engaged with your fellow business community is one of the most powerful tools available to you.
Data sourced from NFIB March Jobs Report, Fiserv March Small Business Index, WSJ/Vistage Small Business CEO Confidence Index, and Goldman Sachs 10,000 Small Businesses Voices Survey — all published March/April 2026.