Inaugural Comerica Bank Survey Finds Small Businesses Optimistic About Growth, Cautious About AI, and Focused on Strategic Investment

Core Insights - Small business owners in the U.S. are optimistic about the next 12 months, with 81% expecting revenue growth despite economic uncertainties and technological changes [1][2][13] - There is a growing conversation around the governance of artificial intelligence (AI), with 55% of respondents supporting stricter regulations [1][6][7] - Inflation is the primary concern for small businesses, with 23% citing it as the most significant threat [10][12] AI Adoption and Regulation - 45% of surveyed small businesses currently use AI tools, with the highest adoption in the Technology (64%) and Professional Services (58%) sectors [10] - Younger business owners are less supportive of stricter AI regulations, with only 42% of Gen Z favoring tighter oversight compared to 66% of Baby Boomers [7] - Despite concerns about AI, 64% of small business owners do not believe it will replace jobs in their industry within the next five years [8] Confidence and Market Outlook - 83% of small businesses express confidence in their future success, particularly those with revenues over $500,000 and/or more than 10 employees [10][11] - Nearly two-thirds of respondents expect market conditions to improve, with optimism strongest in the Midwest and South [12] - Sales growth expectations are robust, with 41% projecting modest growth of 1-10% and nearly 30% expecting double-digit increases [13] Capital Investment and Challenges - 32% of respondents plan to invest up to $100,000 in capital expenditures over the next 12 months, while 45% have no such plans [10] - The primary challenges for AI users include mistakes, tech vulnerabilities, and learning curves [10]