Despite a few economic curveballs in the past few years, small and medium-sized businesses (SMBs) in the U.S. began 2025 with a strong sense of optimism. According to research conducted in March 2025 by leading asset finance insurance provider Acquis, 65% of SMBs surveyed said they feel positive about their long-term future.

That’s a promising signal for the equipment finance industry, especially as businesses across the sectors look to invest in technology and new equipment as core drivers of growth.

And yet, the chaotic implementation of new U.S. tariffs has undoubtedly impacted consumer confidence. Since the U.S. economy is largely driven by consumer spending, the threat of higher taxes on the products they buy, it’s no surprise that the confidence of both the consumer and SMBs may be wavering.

So, what does the research tell us about the year from there? The survey, which asked 500 senior SMB leaders from across the U.S. about their business confidence and investment intentions, revealed that investment in new equipment is high on the list and there’s a major opportunity for SMBs to step in and help.

Optimism by region and sector

The research reveals that where a business is located can make a big difference in how hopeful they’re feeling. The South is leading the way, with 72% of businesses in the region saying they’re either “very” or “quite” optimistic. Those in the West aren’t far behind with 64% reporting a positive long-term outlook. On the other hand, businesses in the Northeast are a bit more cautious, with 27% of them reporting feeling pessimistic about the future.

Across the various industries, there were also some interesting variations. While technology investment came out on top overall as the biggest opportunity for growth (55% included it in their top three), those in Building & Construction and Manufacturing & Production were most focused on cost and pricing optimization.

The year ahead for equipment investment

An impressive 85% of SMBs said they plan to invest in new business equipment in 2025, a strong signal of confidence and a positive indicator for anyone working in equipment or leasing.

Despite all this planned investment, just 27% of businesses said they’re planning to use leasing to fund those purchases - and 41% said they’d be using credit cards.

So, why aren’t businesses utilizing leasing? It may be that some are simply not aware of the benefits - flexibility, lower interest rates, and easier cash flow management. And others might not realize that it’s an opportunity for companies of their size. These insights become even more valuable in light of the new tariffs - recognizing what is on the minds of SMBs can help us focus and address solutions that matter.

This point is exactly where equipment finance can make a real difference - by better educating SMBs and offering customizations for the industry, lessors can turn that planned investment into leasing deals. As businesses look to weather the turbulence ahead, leasing gives them the option to stretch out payments to lower monthly expenses and provides some consistency and stability to a company's expense segment.

Looking ahead

As SMBs adapt to the impact of tariffs and reassess their priorities for 2025, the value proposition of leasing has never been clearer. The research shows that SMBs are thinking long-term - and they’re ready to invest.
Now, it’s up to the equipment finance industry to meet them where they are, provide the right solutions, and help fuel that growth in a way that’s smart, strategic, and sustainable. This is an opportunity for a collaboration of lessor, vendor and service provider to develop solutions that support SMBs through uncontrollable times. We are American business entrepreneurs, there is nothing we can't overcome.