There's a disconnect in the economic attitude of small- to medium-sized business owners (SMB) in America. According to the Thryv 2023 Small Business Index Report, 70% of people believe the larger economy will remain flat or decline over the next six months, but more than half (56%) expect their overall revenue to increase this year. Of those anticipating this growth, 42% believe their own revenue growth will exceed 20%.

The same positive outlook can be found in those with $500,000+ yearly revenue. Moreover, SMBs that invest in technology, more specifically, those spending more than $200 per month on software, report being more optimistic. Sector, size, location and longevity all impact how many SMBs expect their industry outlook to improve in the next six months. The entertainment industry sees the highest level of optimism (61%) and business services the least (39%).