According to Bank of America’s 2025 Business Owner Report, many business owners are approaching the next 12 months with cautious optimism, with nearly three out of four expecting revenue increases. But compared to last year, more small business owners expect sales to decrease over the next 12 months, while fewer who run medium-sized firms expect that to occur. With the holidays around the corner, there are crosscurrents for small businesses. On one hand, consumer spending on holiday items was off to a strong start; on the other, tariff-related costs have surged for small businesses. Despite the pressure, inventory payments per small business client were up 0.6% year-over-year in October, though seasonal retail hiring remains below last year’s levels.

American Dollar to Canadian Dollar = 0.692631; American Dollar to Chinese Yuan = 0.137390; American Dollar to Euro = 1.040611; American Dollar to Japanese Yen = 0.006641; American Dollar to Mexican Peso = 0.048952.

American Dollar to Canadian Dollar = 0.761768; American Dollar to Chinese Yuan = 0.155712; American Dollar to Euro = 1.159478; American Dollar to Japanese Yen = 0.009032; American Dollar to Mexican Peso = 0.048153.