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Live Oak BusinessPulse 

Insight and Analysis of Small Business Sentiment and Economic Trends

The BusinessPulse provides detailed analysis and reporting on small business sentiment, including economic position, economic confidence, and credit outlook for small and middle market companies. Take a deep dive into the Q3 data and discover how businesses feel about their past performance and what they expect in the next 12 months.

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key takeaways

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Financial Conditions Are Showing Slight Improvement

Despite ongoing challenges, the financial health of small businesses is showing signs of improvement. Sales, profits and cash are all up, sparking optimism. While concerns about tariffs have lessened, business owners are still worried about rising costs and future policy changes.

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Small Business Financial Confidence Rises

Small business owners are feeling more confident about their financial future in the third quarter. While more small business owners plan to raise prices, they also anticipate an increase in sales. 

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Demand For Additional Credit is Declining

Demand for additional capital continued to go down in the third quarter of 2025, marking a low point of only 12% of small businesses applying for additional capital. 

Source: Live Oak Q3 2025 BusinessPulse Survey Results (Powered by Barlow Research)

 

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Dedicated to the Doers®

Small business is the backbone of our country. It drives jobs, creates prosperity and boosts local economies. We’re proud to contribute to that growth by investing in America’s small business owners. When you bank with Live Oak, you can be proud too.

About Barlow Research

Barlow Research surveys more than 2,800 companies annually across the U.S. to gather current viewpoints and draws on years of data to provide in-depth research on economic trends to the commercial banking sector. Barlow has a long-standing relationship with Live Oak Bank, primarily through powering the BusinessPulse. In addition, Barlow Research has provided industry analysis for vertical selection, competitive intelligence on the digital account opening and lending processes. Live Oak Bank is also a member of Barlow Research’s flagship Small Business Banking program. 

Joel Mueller
Managing Partner & Research Director
jmueller@barlowresearch.com | 763.253.1806
Barlow Research Associates, Inc.
917 Lilac Drive North, Minneapolis, MN 55422