Survey finds reduced confidence, shifting growth plans, and emerging operational pressures among local small businesses.

In conjunction with University of Illinois Chicago College of Business Administration, the Chicagoland Chamber of Commerce announced findings of its 2025 Chicagoland Small Business Outlook Survey.

The 2025 Small Business Outlook Survey provides a snapshot of the attitudes and sentiments of the city’s small business community. Key findings highlight lower confidence in business performance and the regional economy, continued growth plans with a more cautious outlook, and increasing capital needs and financial pressures.

“This report provides timely insight into the mindset of Chicagoland’s small business community,” said Jack Lavin, President and CEO of the Chicagoland Chamber of Commerce. “Small businesses remain committed to innovation and growth, even as they navigate shifting economic conditions. The Chamber will continue to advocate for policies and resources that help them scale and succeed.”

Key Findings

Lower Confidence in Business Performance and the Regional Economy

The findings show a clear decline in confidence compared to last year. Forty-nine percent of respondents expect their business to perform just as well or better in the next 12 months. This is a sharp decrease from 71 percent in the previous survey. Expectations for the regional economy also dropped. Only 30 percent believe the Chicagoland economy will stay the same or improve, down from 57 percent.

Growth Plans Remain, but with a More Cautious Approach

Even with reduced optimism, many small businesses remain focused on growth. Fifty-four percent plan to pursue a growth strategy in the coming year, though this is down from 67 percent. The most common growth priorities include improving existing products or services and increasing marketing and promotion efforts. Marketing also ranked as the top area where additional capital would have the greatest impact.

Capital Needs and Financial Pressures

When exploring sources of capital, respondents expressed strong interest in grants, followed closely by lines of credit and traditional loans. Taxes and tariffs were identified as the most significant government-related pressures facing the region’s small business community.

Interested in learning more? Check out the full 2025 Small Business Outlook report.