The index was calculated from an online survey sent to CEOs and other key leaders who are active U.S. Vistage members. Vistage member companies grow 2.2 times faster than non-Vistage peers according to Dun & Bradstreet. The survey, conducted between February 2-9, 2026, collected data from 370 respondents with annual revenues ranging from $1 million to $20 million. The Index is calculated based on favorable minus unfavorable responses from this set of standard questions, plus 100, anchored to June 2012 = 100.
Current Economy: Sentiment about the U.S. economy compared to a year ago continues to improve; the proportion of small business leaders who believe it is worse than a year ago has dropped from 34% to 30%. Conversely, optimism improved with 2% of small business leaders reporting improvements, up from 24% last month.
Future Economy: Forward-looking sentiment among small business leaders continues to improve as over one-third (36%) believe the economy will improve, while 21% believe it will worsen in the next 12 months. Revenue Projections: More than two-thirds (71%) of small business leaders anticipate revenue growth in the year ahead, up from 67% in January, while 8% expect declining revenues.
Profitability Projections: The proportion of small business leaders who expect increased profitability rises to 60%, up from 56% in January, while those who expect a decline drop to 15%. Fixed Investment Plans: Plans for fixed investments improved slightly in February, with just over one-third (34%) planning to increase fixed investments in the next 12 months, while 14% expect to scale back.
Workforce Expansion Plans: Workforce expansion plans jump 5 points, with 55% of small business leaders indicating they plan to add staff in the next 12 months, up from 50% in January. However, 9% plan to reduce headcount, up from 7% in January.
