Small Business News
Survey Finds Nearly Half of Small Businesses Adjusting Strategies
Amid economic uncertainty, a new survey found that many small business owners are adjusting their strategies — with entrepreneurs in certain parts of the country more likely to be undergoing changes.
About the Survey Results:
According to a new survey from Chase for Business finds that nearly half of small business owners across the nation are changing how they run their businesses in the face of economic challenges. Specifically, Chase focused on business owners in six major cities: San Diego, Boston, Seattle, Tampa, Houston, and Chicago. In total, the survey included approximately 500 participants from across the country, with 300 additional business owners in these six metros also participating.
Of the focus cities, business owners in San Diego were far more likely to be making changes to their business given current conditions, with 65% of respondents saying as much. On the opposite end, 42% of those in Chicago reported making active adjustments. The national average came in at 48%.
Despite this, a significant number of businesses surveyed described themselves as being in “growth mode.” What’s more, while the national average for this question was 41%, all six focus cities exceeded this rate. In fact, 70% of respondents in the Windy City agreed that their businesses were in a growth stage. Meanwhile, 58% of small business owners in Seattle and 56% in Houston said the same.
Small businesses in these select cities also overindexed when it came to rising revenue. Chase found that 78% of businesses in Boston, 76% in Chicago, and 70% in Houston saw “better than expected” revenue results in March 2025. By comparison, the national average was 56%.
Lastly, more than 90% of respondents in Chicago and Tampa agreed that it was important for businesses to invest in themselves in challenging economic conditions.
What They’re Saying:
Commenting on the survey results, Chase for Business CEO Ben Walter remarked, “Market conditions and overall optimism will always fluctuate, but what matters is how businesses respond and adapt to the moment.” Walter added, “Small business owners are some of the most resilient and forward-thinking leaders out there – constantly adopting new tools and navigating challenging times with grit and innovation.”
My Thoughts:
To me, that last stat sums up a lot about entrepreneurs. As we’ve seen time and time again — and especially in recent years — small businesses are resilient. Thus, even in times of economic uncertainty and pressure, they continue to make the necessary pivots and soldier on.
As for this survey, it is fascinating to see how these six selected cities compare to the national average. If you’re curious (as I was) about how Chase chose them, they state, “The markets selected were based on a number of factors including having a dynamic business environment, a known culture of innovation and entrepreneurship, and a strong Chase for Business presence.” That last note aside, that makes sense to me.
Considering how many unknowns are still ahead, I’ll be interested to see what future installments of this survey show.
Author
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