Small and mighty: SoFi survey reveals the resilience of today's micro-businesses

Small and mighty: SoFi survey reveals the resilience of today's micro-businesses

These are challenging times to run a business. Yet some of America's smallest businesses, known as micro-businesses, are surprisingly optimistic about the future, according to a February 2026 SoFi survey of micro-business owners ages 18 and older.

Almost 40% of survey respondents say they feel very positive about their business's future. Despite economic uncertainty, rising costs, and consumers' growing price concerns, micro-businesses - which have one to nine employees - are not only surviving, but thriving, even as some other, bigger businesses struggle.

Their small size has proven to be a big bonus. Micro-business owners are adaptable, confident, and ready to spring into action, SoFi's survey found. They are quick to pivot, adjust pricing, and reduce costs when necessary. They focus on what they can control, stay nimble, and trust their instincts.

According to the Census Bureau, there are more than 36 million small businesses in the U.S., and more than 82% of those are micro-businesses. That makes these firms an economic force to be reckoned with. So how do micro-businesses stay strong and flourish, even in tough times? Here, the micro-business owners in SoFi's survey share their secrets for success in an ever-changing world.

Key Points

• Nearly 40% of micro-business owners feel very positive about their business's future because of confidence in their own decision-making, strength of customer demand, and their ability to adapt their business.
• Micro-business owners demonstrate adaptability through quick pivots, price adjustments, and cost reductions, focusing on controllable factors and trusting their instincts.
• The most difficult problems faced by micro-business owners over the past year include rising costs (46%), economic uncertainty (37%), and changing customer spending patterns (32%).
• Sixty-eight percent of micro-business owners made quick business changes over the past year, with 46% adjusting prices and 33% changing availability or hours.
• Most micro-business owners self-financed their business to start it, using personal savings (41%), bootstrapping (16%), or credit cards (12%). Thirty-nine percent continue to self-fund their business today.

SoFi's Micro-Business Survey Respondents

• 524 male and 476 female business owners.
• Annual business revenues under $150,000.
• Operate businesses in professional services, personal services, retail, technology, creative and media, construction, and more.
• 36% have been in business for 3 to 5 years, 22% for more than 10 years, 19% for 1 to 2 years, 16% for 6 to 10 years, and 8% for less than 1 year.

Confidence + Customer Demand is a Winning Formula

Many micro-business owners (39%) say they feel very optimistic about the future, and another 37% are somewhat optimistic.

What makes micro-business owners so positive?

• Confidence in my own decision-making: 40%
• Strength of customer demand: 39%
• My ability to adapt my business: 31%

Size Matters

Being small puts micro-business owners in a strong position. When asked how the size of their business affects their outlook for the future, 42% of SoFi's survey respondents said it makes them more optimistic. And 67% said that their customers choose them because they are small.

Biggest Business Challenges

Still, like most businesses, micro-business owners have had their share of tough times. The most difficult business-related problems they've had to deal with over the past year are related to the economy.

Top challenges of micro-business owners

• Rising costs: 46%
• Uncertainty about the economy: 37%
• Changes in customer spending: 32%
• Competition: 24%
• Managing day-to-day operations: 24%
• Time constraints: 22%
• Permitting and/or other regulations: 15%

Greatest Strength As a Business Owner

While micro-business owners are confident in their skills overall, the one thing they prize most is their ability to keep customer relationships strong.

Micro-business owners' biggest source of business confidence is:

• Maintaining customer relationships: 38%
• Managing their workload: 35%
• Adjusting pricing or services: 29%
• Making quick and effective decisions: 29%
• Managing costs: 28%

Quality Counts

Along with customer relationships, micro-business owners are focused on making high-quality products and/or providing services that deliver what consumers want.

Which factors are most important to your business?

• Quality of service or product: 47%
• Strong customer relationships: 38%
• Reputation and word of mouth: 36%
• Flexibility and adaptability: 35%
• Keeping costs low: 33%
• A unique service or product: 25%
• Community or local support: 17%

How Customers Have Changed

Prices are a bigger concern for their clients today, micro-business owners report. At the same time, as these customers are careful with their spending, they rely on micro-businesses more to get what they want and need, survey participants say.

Biggest Changes in Customer Behavior

• Customers are more price sensitive: 26%
• Customers are more loyal: 20%
• Customers rely on my business more: 17%

Perfecting the Pivot

Over the past year, 68% of micro-business owners report they've had to be nimble and make quick changes to their business.

Top Changes Micro-business Owners Have Made

• Adjusted prices: 46%
• Changed their availability or hours of operation: 33%
• Reduced expenses: 32%
• Marketed my business differently: 28%
• Changes services or offerings: 27%
• Took on different types of customers: 25%
• Used new tools or systems: 24%

What It's Like to Run a Business Right Now

More than two-thirds of the micro-business owners in SoFi's survey acknowledge that it isn't easy to be in business currently, with some saying it's stressful or uncertain. Yet for 33%, bossing up is satisfying or invigorating.

Heading up a business today is:

• Challenging but manageable: 40%
• Energizing: 18%
• Stressful: 17%
• Rewarding: 15%
• Uncertain: 10%

The Mindset Change that Led to Their Business Success

A business owner's mindset - their collection of beliefs, thoughts, and attitudes - influences their behavior, including the things they do and the decisions they make regarding their business. For the micro-business owners in SoFi's survey, there was one switch in thinking that changed things for the better.

The shift that's been most important for micro-business owners' success

• Focusing on what I can control: 28%
• Staying flexible: 27%
• Trusting my instincts: 21%
• Being comfortable with risk: 12%
• Letting go: 12%

Motivated by More Than Money

The micro-business owners in our survey prioritize personal satisfaction over profits - only 21% say they started their business for the money. This was true for both male and female business owners.

What really inspired their entrepreneurship:

• To have more flexibility or control over my schedule: 25%
• To be my own boss: 24%
• To earn more income: 21%
• To pursue a personal passion or interest: 18%
• Because I saw an opportunity in the market: 10%

Investing in Themselves

Most micro-business owners financed their businesses themselves: 41% used their personal savings to fund their business; 16% bootstrapped, using personal finances and operating revenue; and 12% used credit cards.

Just 10% received money from family or friends, 8% took out a loan, such as a business loan from a bank or online lender, and 5% used grants or other programs for funding.

Avoiding Debt

The majority of micro-business owners - 39% - continue to self-fund their businesses today, using savings or revenue. Others are purposely frugal, with 26% saying they actively avoid debt even if it limits the growth of their business. One-quarter report that they approach financing strategically to support their enterprise. Eight percent simply aren't sure which financing options are best.

Their Financial Know-How Is High

48% of SoFi survey respondents say they feel very confident making financial decisions for their business. Another 39% feel somewhat confident about their financial prowess. Only 3% are not very financially confident.

If They Could Do It Over Again

If they could launch now with 20/20 hindsight, micro-business owners say this time around they would:

• Plan finances more carefully: 28%
• Wouldn't change much: 25%
• Move faster: 16%
• Focus on customers sooner: 16%
• Start with lower costs: 10%

The True Measure of Success

Being successful is less about growing their micro-business bigger and more about being secure financially and having flexibility.

What success means to micro-business owners in 2026

• Financial stability: 34%
• Flexibility: 22%
• Work-life balance: 16%
• Growth: 16%
• Consistent customers: 12%

Top Business Lesson They've Learned

In a time of economic upheaval, micro-business owners have discovered certain attributes and developed specific abilities that have become key to running their business smoothly.

Best business learning:

• How to adapt quickly: 25%
• How resilient I am: 21%
• How to manage money better: 19%
• How to build relationships: 18%
• How to manage uncertainty: 16%

The Takeaway

Running a micro-business today is challenging but rewarding, according to the respondents to SoFi's survey. Despite the obstacles, micro-businesses are flourishing, and the majority of micro-business owners are optimistic about the future - thanks to confidence in their own decision-making, their adaptability, and the strong customer relationships they've nurtured.

This story was produced by SoFi and reviewed and distributed by Stacker.

Copyright 2026 Stacker Media, LLC

This story was originally published May 21, 2026 at 10:30 AM.