As small businesses navigate an ever-evolving economic landscape, business owners remain focused on growth, resilience, and strategic planning for the future. To gain insight into their expectations for 2025, TMC Financing surveyed small business owners across Arizona, Hawaii, Nevada, and Oregon.
The results reveal a mix of optimism and caution as 280 business owners prepare for the year ahead.
Key Highlights:
- 52.5% of businesses reported revenue growth in 2024.
- 59.64% predict their revenue will increase in 2025.
- 42.5% plan to hire additional employees, while 50.71% expect to maintain their current headcount.
- 92.5% of business owners say the SBA 504 loan has positively impacted their business.
Here’s a deeper look at what small business owners had to say:
Revenue Trends
Despite the challenges of 2024, 53% of small business owners reported an increase in revenue, demonstrating the adaptability and strength of the small business community. While 26% saw no change in revenue and 21% experienced a decline, the overall outlook for 2025 remains hopeful.
Looking forward, 60% of respondents anticipate revenue growth in 2025, with 30% expecting stability and 10% predicting a decline.
“Buying my own building was the best financial move of my career. The stability of the ‘rent’ payment and elevation of the quality of my space have been great for business and profitability.”
“Things are getting better; I wish we could find good service technicians.”
Hiring & Workforce Plans
A thriving small business sector means job creation, and business owners are carefully planning their workforce strategies for 2025.
- 43% of small businesses expect to expand their workforce.
- 50% plan to maintain their current staff.
- 7% anticipate reducing their employee count.
This data reflects a steady but strategic approach to staffing as businesses assess economic conditions and the quality of the workforce.
“We are well positioned to handle up to 100% additional business with our current facilities and equipment. Only personnel may be needed along the way.”
”We would like to hire, hard time finding quality workers.”
Expansion & Real Estate Plans
Many business owners remain cautious about expansion 2025, with 70% indicating they do not plan to expand their business because of economic uncertainly space in 2025. However, there is still interest in growth:
- 17% plan to purchase a new building.
- 3% intend to lease new space.
- 10% are considering other real estate investments.
For those considering expansion, SBA 504 financing provides an accessible solution, offering low down payments and below-market, fixed interest rates.
“Purchase may be in the plans for 2025 or more likely 2026, depending on contracts and business success.”
“We are diversifying to survive. The current administration’s unpredictability directly and adversely affects the business’ progress, as many of our projects rely on a stable federal government. We are pursuing private industry and new markets to sustain our revenue stream.”
“To be determined, it depends on this current administration.”
Refinancing Considerations
With fluctuating interest rates and economic shifts, business owners are evaluating their refinancing options. When asked about their plans for 2025:
- 77.5% do not plan to refinance.
- 7.5% are considering refinancing.
- 15% remain unsure due to market conditions.
Refinancing with the SBA 504 loan can help business owners lock in a stable, fixed rate and protect their businesses from unpredictable rate increases.
“Will refinance if interest rates lower.”
“If interest rates drop I will definitely look to refinance.”
The Impact of SBA 504 Financing
SBA 504 loans are designed to help small business owners purchase, expand, or refinance commercial real estate with a low down payment and long-term, fixed interest rates. For many, this financing solution has been a game-changer.
A remarkable 92.5% of respondents reported that the SBA 504 loan has positively impacted their business. Here’s what some business owners had to say:
TMC Financing Continued Growth and Economic Impact
“The TMC Financing team was great to work with. Chris Bane and team helped us smoothly navigate the process. All were very professional, and we appreciate the opportunity to work together.”
“TMC helped me with all my documentation. I appreciate all the help they gave me. Thank you.”
“TMC has been good to work with.”
“The TMC team is always great to work with. I continue to highly recommend TMC services to other business owners.”
In 2024, TMC Financing facilitated $1.8 billion in total SBA 504 financing, helping small businesses across five states, including its newest expansion into Hawaii.
With 490 small businesses served and nearly 6,000 new jobs created, TMC remains the nation’s No. 1 SBA 504 lender for the fourth consecutive year.
As small business owners plan for 2025, TMC Financing remains committed to supporting their success through accessible, affordable financing solutions. Whether it’s purchasing property, refinancing, or expanding operations, the SBA 504 loan continues to be a powerful tool for business growth.
Contact TMC Financing today to explore how SBA 504 financing can align with your business goals in 2025 and beyond!
Download Full Business Outlook Survey Results
