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A new report from Alignable reveals a sharp rise in small business revenue losses tied to tariffs and ongoing economic uncertainty. In fact, 55% of SMBs say their earnings have been cut in half compared to last year, marking a 10-percentage-point spike from December.
But despite the pressure, many business owners are fighting back — 45% say ramped up networking is helping them uncover new opportunities and build resilience.
Key takeaways:
- 55% report making half or less than they made this time last year.
- 51% say customer spending is “much lower” than 2024.
- Tariffs, attracting new customers, and inflation top the list of concerns.
- Industries seeing the steepest declines retail (55%), restaurants (54%) and more.
“These problems won’t disappear overnight — but we’re seeing remarkable resilience from business owners uncovering new opportunities through their network,” says Eric Groves, Alignable CEO and co-founder.
