September 1, 2025

Comerica Small Business Pulse Index™

In the inaugural edition of the Comerica Small Business Pulse Index™, small business owners shared a clear message: they’re feeling optimistic about what’s ahead. They’re embracing technology more than ever and calling for thoughtful guidance as new innovations reshape the way they work.

Read the full press release

The infographics featured on this page are available for download and may be used by media outlets, journalists, and other third parties. Please ensure proper attribution to Comerica Bank and the Comerica Small Business Pulse Index™ when sharing or publishing.

 


Inflation Tops the List of Concerns

23% of respondents cite inflation as the most considerable threat to their business, followed by tariffs and cash flow challenges.


Capital Investment (CapEx) Outlook Is Mixed

While 32% of the respondents plan to invest up to $100,000 in the next 12 months, 45% report no CapEx plans. Technology and Construction industries lead in planned investment.


AI Adoption Is Accelerating

45% of surveyed small businesses report using AI tools today, with adoption highest in the Technology (64%) and Professional Services (58%) sectors.


AI’s Impact on Employment is Optimistic

Despite concerns, most small business owners responding to the survey remain optimistic about AI’s impact on employment. A total of 64% of all small businesses surveyed do not believe AI will replace jobs in their industry within the next five years.


Reasonable Oversight is Supported for AI

Although AI users as a whole are less likely than non-users to support stricter regulation, those in the Technology and Professional Services industries (which lead in both adoption rate and breadth of use) are actually more supportive of increased oversight compared to AI users in other industries.


About the Comerica Small Business Pulse Index™

The Comerica Small Business Pulse Index™ is a quarterly research series that captures the perspectives, priorities, and challenges of small business owners across the U.S. Each edition explores timely topics, from technology adoption to economic outlook, and is presented through a series of data-rich infographics designed for easy sharing and media reference.

The Comerica Small Business Pulse Index™ surveyed 1,010 small business owners across the U.S. between August 1-13, 2025. The survey has a margin of error of ±3.1% at a 95% confidence level.