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 Q1 data and discover how businesses feel about their past performance and what they expect in the next 12 months.

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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.

key takeaways

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Financial Conditions Continue to be Strained

Over the past 12 months, small business financial conditions continued to be strained. For a sixth consecutive quarter, more small businesses report deteriorating financial conditions than improved ones. The cost of doing business continues to be a top concern.

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Elevated Financial Expectations Continue Amidst Shifting Market Dynamics

Small businesses' expectations of their financial condition remain elevated from the fourth quarter, and net difference pricing expectations continue to trend down. Yet, 42% anticipate that tariffs may impact the price of foreign goods. 

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Credit Demand is Beginning to Increase

Demand for additional credit ticked up from a low point at the end of 2024. Additionally, the expected demand for additional credit moderately increased.

Source: Live Oak Q4 2024 BusinessPulse Survey Results (Powered by Barlow Research)

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