Sept. 2026 Small Business Outlook: Employees Drive Growth

Summary: Main Street’s job market remains healthy and small employers’ plans to hire reverted back to normal levels after July’s uptick.

• 35% of small business owners reported job openings they could not fill in August (1 point lower than July). The historical average is 24%.
• 31% of small business owners raised compensation in August (no change from July) and 18% plan on raising compensation in the next 3 months (1 point lower than July).
• 23% of small business owners cite “labor quality or availability” as their single most important problem (4 points lower than July) The historical average is 12%.
• 17% of small business owners plan on creating new jobs in the next 3 months (3 points lower than July).  The historical average is 11%.

Learn more about this data from the National Federation of Independent Business (NFIB) August Jobs Report, published on Sept. 3, 2026.

Summary: The overall index held steady, with shoppers spending more, but during fewer visits.

• Month over month sales at small businesses fell in August (-0.2%) and year over year sales continued upward (+1.3% compared to August 2025).
• Average checkout totals rose 3.0% compared to a year ago, continuing the trend of higher spending per visit rather than increased customer traffic.

Learn more about this data from Fiserv August Small Business Index, published on Sept. 2, 2026.

Summary: Small Businesses continue to rely on their best employees to meet demand.

• Jobs index dropped 0.10% from August and remains in line with the year’s average.
• Weekly earnings growth increased 3% in August and hours-per-week grew 0.07%, remaining in positive growth territory for 6 consecutive months (a record set in 2020).
• Education and Health Services has been in the top 2 sectors for job growth every month since February 2023 and ranked strongest for August.

Learn more about this data from PayChex August Small Business Employment Watch, published on Sept. 1, 2026.