Thryv Holdings, Inc. (NASDAQ: THRY) recently released a press statement highlighting the nuanced outlook for small businesses as they enter 2026. The data collected during a mid-December survey reflects a mixture of optimism and apprehension among small business owners (SMBs), revealing a complex landscape shaped by various economic pressures and emerging technologies.

1. Key Findings from the Thryv Survey

A Tempered Sense of Optimism

The survey, conducted between December 15-18, 2025, with over 130 responses, shows that a significant portion of small business owners are facing a challenging economic environment. When asked about factors that inspired optimism for the upcoming year, a notable 39% of respondents selected “none of the above.” This sentiment reflects a cautious approach as SMBs prepare for 2026.

However, not all is bleak; almost one-third of the surveyed owners expressed optimism about the economy, and slightly more than a quarter believe they can maintain a competitive edge in their respective markets.

Top Concerns for 2026

The challenges set to define the small business landscape in 2026 are clear. The survey revealed that 49% of respondents are primarily worried about their ability to grow their businesses amid economic uncertainty. This concern is closely followed by 44% who are anxious about rising employment costs. Interestingly, issues such as tariffs and access to financing were noted by fewer respondents, indicating a focus on more immediate operational challenges.

Grant Freeman, president of Thryv, shared insights on the cautious optimism prevailing among small business owners: "Small businesses are entering 2026 with a mix of hope and hesitation. While many expect growth, nearly a third remain unsure. That uncertainty can stall progress. The businesses that embrace technology and adapt quickly will be the ones that turn cautious optimism into concrete success."

The Role of Technology and AI

Despite the growing conversation around artificial intelligence, two-thirds (67%) of SMBs reported that they do not anticipate AI will significantly impact their operations in 2026. Moreover, the survey revealed a divide among business owners regarding their technological preparedness. Only 38% believe they have the necessary tools, including AI, to foster business growth, while 29% disagree, and 33% remain uncertain.

"This survey demonstrates that not all small businesses see the transformative power of AI. Those who are already leveraging AI to streamline operations and uplevel their marketing have a clear competitive edge," Freeman noted, emphasizing the importance of embracing technological advancements.

2. Reflecting on 2025

Looking back at the previous year, the sentiment among SMBs was more favorable. Fifty percent of respondents indicated that their 2025 revenue and overall business health met their expectations, and 13% reported exceeding those expectations. However, 37% acknowledged that their results fell short.

The survey also explored external factors that negatively impacted businesses in 2025. The predominant concerns were:

Economic Turmoil: 48%

Inflation: 45%

Rising Wages: 25%

Tariffs: 21%

None of These: 33%

These results underscore the pressures that small businesses faced throughout the year, particularly in navigating economic fluctuations and inflationary pressures.

3. Conclusion

As Thryv Holdings, Inc. highlights in its recent survey, small businesses are entering 2026 with a blend of hope and uncertainty. While many are optimistic about the potential for growth, the challenges posed by economic conditions and the evolving landscape of technology, particularly AI, will require adaptability and resilience. Moving forward, SMBs that leverage technological advancements and remain agile in their strategies may find themselves better positioned to succeed in an unpredictable environment.

Original press release