In August, the U.S. Chamber of Commerce released its fourth edition of Empowering Small Business: The Impact of Technology on U.S. Small Business. The report highlights how small businesses are using technology to grow, adapt, and stay competitive.
AI Is Delivering Results
Generative AI use among small businesses has jumped to 58%, more than doubling since 2023 (23%). Businesses using AI are seeing real gains: 85% reported increased sales, 84% saw higher profits, and 82% expanded their workforce.
AI is being used for marketing, customer engagement, and inventory management. One example from the report: Henry’s House of Coffee, based out of San Francisco, designed a system with ChatGPT that improves how their beans are bagged for distribution—saving time and reducing waste.
Crypto Is Catching On
Interest in cryptocurrency and stablecoins is growing. Seven in ten small business owners say they’re interested in using digital currencies for payments. In the southern East Coast, Prevail Coffee Roasters is already using stablecoins to pay suppliers, as well as exploring tokenized loyalty rewards to engage customers and attract investors.
Tech Adoption Is Linked to Optimism
Business owners who embrace technology are more confident about the future. The report shows that 84% of small business owners are optimistic that tech will help their business grow. Additionally, 83% say tech has helped them compete with larger companies.
Regulation Is a Rising Concern
While optimism is high, many owners are worried about regulation. The report found that 77% of AI users believe limits on the technology would hurt their growth and operations. Nearly two-thirds are concerned about rising compliance costs from state-level tech laws.
Looking Ahead
Almost all small business owners—96%—plan to adopt emerging technologies like AI and crypto. The takeaway: tech isn’t just a tool anymore. It’s part of the business strategy.