The Strength Of Small Business In A Shifting Economy
Small businesses are the engine of the American economy. They are often the first to innovate, the fastest to adapt, and the most determined to persevere through change. In moments of uncertainty, they continue to move forward not because conditions are perfect, but because resilience is embedded in their DNA.
According to BoeFly's April 2025 Franchise Growth Confidence Index,72.7 percent of franchisors remain confident in achieving their 2025 growth goals. That level of confidence in nearly three out of four leaders is significant considering the broader economic narrative around inflation, tariffs and ongoing interest rate uncertainty. Additionally, 65.2 percent expect the volume of new franchisees to increase or remain steady and nearly 57 percent of brands expect to exceed their 2024 expansion plans.
This is more than optimism. It reflects an evolving business environment where capital is readily available, demand remains strong, and entrepreneurs are actively looking for smart, strategic ways to enter or grow in the market. Franchising stands out as a clear path for many of them.
We are also seeing this energy play out across our markets. From new storefronts opening in downtown corridors to longtime clients expanding into new territories, the appetite for growth remains real. Entrepreneurs are not shying away from opportunity; they're actively pursuing it with strategic focus and urgency. And in many cases, they're doing so with support from trusted partners who understand their goals and their challenges.
Entrepreneurs Move While Others Pause
Entrepreneurs often thrive not because they predict the future but because they refuse to pause. If you wait for the perfect moment, you'll never act. Many of the best businesses are started when others are standing still.
When we announced the merger with First National Bank of Long Island last fall there were those who questioned the timing. We picked a spot on the map and kept moving toward it. That's what entrepreneurs do. They adapt. They problem solve. They build anyway.
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I am often asked questions such as, "Is now a good time to start a business, buy a house or expand operations.' My answer was simple, if you have a vision, capital and a sound plan then yes, it is the right time. Waiting for the most perfect conditions often means missing your moment altogether. The truth is that entrepreneurs do not move with the markets they move with intention and purpose. And in an economy as dynamic and resilient as ours those who act now will likely be the ones shaping what comes next.
At times like these, having the right financial partner is critical. Banks that serve as advisors and not just lenders can make a significant difference in helping entrepreneurs move forward with clarity and confidence. Whether it's navigating lending, evaluating business plans, or identifying funding strategies, having a collaborative banking relationship is essential. So, whether you are expanding a current venture, exploring a franchise opportunity or launching something new remember that there is strength in continuing to build, especially when others are standing still.
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