Small Business Owners Aren’t Losing Their Dream but Are Paying More to Achieve It
A recent KeyBank survey reveals that small business owners are facing significant challenges due to inflation and rising costs. Despite these challenges, 88% of small business owners remain committed to their entrepreneurial dreams.
Key Findings from the KeyBank 2026 Small Business Survey:
-
Income Cuts: About 33% of small business owners are reducing their own income to manage rising costs rather than passing these expenses onto customers, highlighting their dedication to maintaining strong customer relationships.
-
Success Amid Struggles: Nearly all small business owners (94%) reported attaining at least one significant achievement this year, with many reflecting on stability in pricing, improved operational efficiency, and revenue growth.
-
Resilience: Owners continue to feel motivated by their original business goals, pointing to a strong sense of determination and purpose within the small business community.
-
Financial Landscape:
- Inflation concerns were echoed by 53% of owners.
- Good news is emerging as 23% of owners report strengthening cash reserves and 26% have paid down debt.
- There is a decline in survival mode, with only 17% of owners indicating they are in survival mode, down from 23% in 2025.
Defining Success
Success is viewed differently by small business owners and is often based on:
- Independence and Legacy: 51% value freedom and autonomy, while 34% prioritize building something to pass on to future generations.
- Financial Security and Stewardship: 46% cite financial stability as essential, and 30% focus on providing quality jobs.
Oliver Kardos, COO of Business Banking at KeyBank, emphasized that resilience is crucial for small businesses, and their efforts not only support individual dreams but stimulate communities and the economy.
For further insights and support for small businesses, visit the KeyBank Small Business page or find a KeyBank branch.
This summary captures the core findings and insights from the KeyBank report while emphasizing the resilience and determination of small business owners in current economic conditions.
