Fifty-four percent of small-business owners feel positive about their businesses and the broader economy, according to a survey conducted June through August by J.D. Power, a consumer insights, advisory services, and data and analytics company.
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“However, with 50 percent of business owners still concerned about inflation, 37 percent anticipating a potentially significant effect from tariffs and 37 percent expressing uncertainty about interest rates and the cost of borrowing, some serious issues are still looming,” Paul McAdam, J.D. Power senior director of banking and payments intelligence said. “Banks that anticipate these fears and communicate proactively with their small business customers by offering helpful advice and service are best positioned to build customer loyalty and protect these critical relationships.”
Some owners expressed concerns about having a manageable amount of debt. Only 35 percent of small-business owners have an excellent credit score, the lowest level in four years, and the number of small businesses that pay all their bills on time dropped 2 percentage points to 57 percent.
Small-business owners’ overall satisfaction with their primary banks increased 11 points.
The J.D. Power 2025 U.S. Small Business Banking Satisfaction Study surveyed 6,589 small-business owners or financial decision-makers. The survey measured satisfaction across seven factors.