2025 was a year when the small business cycle was the worst in 41 years, according to the Small Business Barometer published by The Entrepreneurs, Swedbank and the Savings Banks' National Association.
The combined business cycle indicator falls to minus 13.4 from minus 11 the previous year. It is the sixth year in a row that the business cycle is below the historical average.
However, small business owners see a light at the end of the tunnel and for 2026, the indicator is expected to rise to 60, which is significantly closer to the historical average of 66.
Only 77 percent of the companies report that they have good profitability, which can be compared to 84 percent last year. 22 percent of the companies report that they have difficulty making the business work, which is a deterioration compared to last year's 16 percent.
Almost every third entrepreneur, 29 percent of those surveyed, stated that what they are most worried about is a sharply decreased demand.
