The State of Small Business

It has been just over one year since SmartBiz Loans^Ⓡ acquired Centrust Bank, marking the beginning of a new chapter as SmartBiz Bank, N.A. In 2025, on the heels of that transition, we launched our first State of Small Business: Industry Pulse to begin a deeper dialogue with the small business owners we serve.

Now, a year later, we’re connecting with small business owners once again to learn what the financing landscape looks like for them. We have seen firsthand how quickly business owners' needs can shift and how important it is to listen closely to what they are experiencing in real time.

Our second annual Industry Pulse offers a fresh look at how business owners are managing growth, accessing capital, and adopting new technologies, including AI, in a fast-changing environment.

This year’s findings point to a business community that is both resilient and optimistic. Many small business owners report strong financial health, improved performance compared to last year, and confidence in their ability to grow over the next 12 months.

At the same time, owners continue to face significant financing challenges, particularly the cost of capital.

The survey also shows that digital tools are becoming more central to a business's day-to-day operations. From online banking and accounting software to AI-powered financial tools, small businesses are embracing technology to help them operate more efficiently and make smarter decisions.

The State of Small Business: 2026 Industry Pulse continues the conversation, bringing today’s small business voices into focus and helping us shape what comes next.

Gerard Buccino
Chief Executive Officer and Chief Financial Officer