- The Huntington National Bank ("Huntington") today released the 2026 Beyond Business Report, an annual study examining business sentiment and market conditions among small- to mid-sized businesses. Powered by Barlow Research, the study surveyed more than 750 business owners, chief financial officers and financial decision-makers and features expert insights from Dan Griffith, director of wealth strategy at Huntington, and Olu Omodunbi, PhD, chief economist for Huntington Private Bank.

"Every day, business owners make decisions that go far beyond the balance sheet—decisions about their people, their legacy and the long-term value of what they've worked to build," said Melissa Holding, director of wealth management at Huntington. "The Beyond Business Report reflects the real pressures and opportunities business owners are navigating and is one of the important ways we provide trusted insight and guidance to help businesses move forward with confidence."

2026 Beyond Business Report Key Insights

Optimism Drives Intentions, but Reality Shapes Operations

Business leaders are more optimistic about the U.S. economy and their own financial outlook in 2026 compared to prior years. Yet even as optimism rises, the operating landscape remains complex:

• Nearly all (95%) businesses report rising costs and wage pressure as a major issues with companies under $50 million in annual sales citing them as their top concern.
• 87% of businesses cite cybersecurity and fraud risks as major threats.
• Businesses report cost increases—especially related to employee wages, supplier expenses and raw materials—as the biggest impact on profitability.

"Economic conditions are expected to support consumer spending and investment in 2026. Inflation has eased, interest rate expectations are becoming clearer and consumer balance sheets remain relatively healthy," said Omodunbi. "While risks remain, these dynamics are creating a more stable environment for businesses to plan, invest and grow."

More Owners Expect Change, but Many Are Not Ready

There is a significant shift underway in business ownership dynamics, and many businesses are not prepared:

• 54% of businesses anticipate an ownership change by 2030, driven largely by retirement timelines, personal priorities and the desire for owners to protect what they built.
• 82% of owners cite retirement as the primary driver for a future sale or transfer—up 7% from 2024.
• Only 45% have a formal succession or exit plan, and readiness is especially low (39%) among smaller companies.

"Succession planning may seem like a financial decision, but many business owners are surprised at how many non-monetary factors come into play—family readiness, leadership depth, vendor continuity—that determine success," said Griffith. "When you take the time to develop a proactive plan, you decrease the risk of loss when timing for a transition is dictated by external events."

Many Businesses Still Lack a Primary Advisor

Business complexity continues to increase, with new threats like cyber risk and ownership transitions, yet many businesses still lack advisors.

• More than 1 in 4 (27%) businesses do not have a primary business advisor.
• Nearly half (48%) of owners turn to other business owners or colleagues for advice about running their business.

"As business complexity increases, risk isn't just external—it's also making critical decisions in isolation," said Holding. "When owners are navigating so much, it's critical to have experienced advisors to help owners connect everyday decisions to the long-term business strategy."

Read the full, downloadable report at Huntington.com/BeyondBusiness.