US SMBs invest despite falling confidence, Acquis finds

Confidence among US small and medium-sized businesses is declining, but investment appetite remains strong as firms prioritise resilience and efficiency in an increasingly uncertain economic environment, according to new research from Acquis.

The study, based on a survey of 500 SMBs, shows that just 55% of businesses feel optimistic about their future in April 2026, down from 65% a year earlier. Meanwhile, pessimism is rising, with 25% of respondents expressing concern about their long-term prospects, compared with 20% in 2025.

Despite weakening sentiment, four in five (80%) SMBs say they are likely to invest in new equipment over the next 12 months, highlighting a continued commitment to growth-critical spending.

However, the nature of that investment is shifting. Rather than pursuing aggressive expansion, businesses are increasingly focused on improving productivity, strengthening operational efficiency and building resilience.

Key priorities now include supply chain optimisation, technology upgrades and tighter cost management, signalling a more cautious and strategic approach to growth.

The report also reveals growing strain around access to finance. Concern about securing funding has risen by eight percentage points over the past 15 months, with 41% of SMBs now worried about their ability to raise capital.

As a result, many businesses are turning to a wider mix of funding sources, including credit cards, unsecured borrowing and internal cash reserves. While leasing is gaining traction, it remains underutilised compared with other financing options—pointing to potential for further growth in the sector.

Operational resilience is also becoming a central concern. More than three-quarters (77.6%) of SMBs say they would be willing to pay more for insurance that guarantees business continuity, while 78% place high value on rapid repair and replacement of critical equipment.

However, many firms report dissatisfaction with current claims processes:

• 30% say claims are slow to resolve
• 35% experience disputes
• 23% cite poor customer service

These findings suggest a gap between expectations and service delivery at key moments of need.

“While confidence has softened, the reality is that US SMBs are not standing still,” he said. “Businesses are continuing to invest, but the way they are investing is changing. The focus has shifted from growth at any cost to building resilience, improving efficiency, and protecting operations against disruption.”

He added that tighter funding conditions are forcing businesses to rely on more expensive or short-term financing options, creating an opportunity for the equipment finance industry.

“This creates a significant opportunity… to reposition leasing not just as a way to fund equipment, but as a strategic tool that helps businesses manage risk, preserve cash, and maintain operational continuity,” Leader said.

“Those providers that can combine flexible finance with strong protection, fast replacement, and responsive service will be best placed to support SMBs in the year ahead.”

The findings paint a picture of a sector under pressure but far from retreating. While confidence may be slipping, US SMBs are continuing to invest, albeit with a sharper focus on sustainability, resilience and long-term stability.