Cybersecurity remains a concern for small businesses

Cybersecurity continues to be a key issue for small-business owners, with 41 percent citing payment fraud as their top concern, followed by phishing and email scams (27 percent) and identity theft (26 percent). It’s one of several topics addressed in a survey from Cleveland, Ohio–based KeyBank (NYSE: KEY) released on Sept. 16. Overall, KeyBank’s 2025 Small Business Survey found that about one in four (23 percent) small-business owners are stuck in survival mode and aren’t focused on long-term planning. Additionally, almost half (46 percent) of proprietors of small firms feel their performance fell short of expectations in 2025. Still, 40 percent of small-business owners are cautiously planning ahead for their businesses’ futures. Another 46 percent say they are certain they could cover one month of operating expenses if an emergency arose, down just slightly from KeyBank’s Fall 2024 Small Business Survey (49 percent), “suggesting that they are preparing for stability and sustainability despite uncertainties.” Even with an extra cushion of expenses saved, half (50 percent) of small-business owners say their top concern is inflation and rising costs — far outpacing factors like competition (33 percent), cash flow (25 percent), and labor shortages and hiring challenges (22 percent). In fact, a quarter (25 percent) of small-business owners are increasing prices for customers in light of recent tariffs and rising costs. “Navigating the current economic environment has proven to be no small feat for small business owners,” Mike Walters, president of business banking at KeyBank, said in the announcement. “It’s reassuring to see small business owners’ passion and perseverance, despite the challenges that have come their way. Their ability to adapt — whether through tightening expenses, finding new ways to serve customers, or preparing for regulatory shifts — shows the grit and creativity at the heart of the small business community. It’s that determination that allows them to build the foundation needed for long-term growth.”

Preparing for what’s ahead

Looking ahead to 2026, business owners are prioritizing the strategies, resources, and self-care that will help shape their resilience, KeyBank said. When it comes to seeking professional advice, 21 percent of small-business owners agree they’d feel more secure by having regular conversations with their business bankers, with many looking for guidance on cash flow (33 percent), financial planning (33 percent), and tax strategy (31 percent). As for maintaining personal resilience, 30 percent of small-business owners say they feel more resilient with a good night’s sleep — ensuring they balance daily self-care needs with long-term business planning. “Small business owners are proving that resilience is more than just surviving challenges; it’s about planning ahead, leaning on trusted advisors, and making sure they have the clarity and confidence to move forward,” Walters said.

Methodology

This survey was conducted online with Survey Monkey, including 2,144 respondents — ages 18-99, from across the U.S., who own or operate a small-to-medium size business with an annual gross revenue of less than $10 million — completed the survey in July.