Q1 2026 - Small business growth driven by essential and higher prices

The Fiserv Small Business Index in Q1 was 143, unchanged from Q4 2025.

Highlights:

• Higher prices offset softer traffic, keeping Q1 small business sales modestly positive.
• Essentials outpaced discretionary spending as consumers prioritized value and necessity.
• Weather, geopolitics lifted fuel and repairs while restaurants remained an area of vulnerability.

Note: The Fiserv Small Business Index refreshes with updated data on the 2nd of each month. 

Disclaimer: Small businesses are identified per the Small Business Administration definitions and extrapolated to reflect total U.S. sales and distribution. This report does not represent Fiserv financial performance.