Results of a nationwide survey of 1,200 businesses by a Washington state-based bank appear to run counter to the doom-and-gloom mentality pervading other recent assessments of business prospects. 

While acknowledging that smaller enterprises are still being cautious and delaying some major decisions due to tariffs, inflation and rising energy costs, Columbia Bank said in a release the findings of its 2026 Business Barometer study points to growing confidence and interest in expansion. 

“This year’s study indicates that small and middle market businesses are approaching the next 12 months with relative confidence and an appetite for growth, which bodes well for the broader economy,” said bank president Tory Nixon in a statement. “At the same time, near-term volatility and current headwinds are real. Business leaders are ready to invest but are timing those decisions carefully.” 

Columbia Bank is headquartered in Tacoma and has four branch locations across the Tri-Cities. 

Results from the bank’s annual study indicate that business leaders expect to see efficiency and productivity gains over the next 12 months, which would potentially lead to opportunity to invest in technology, expanded operations and hiring. A record number of both small and middle market businesses say they are prioritizing making investments over cutting costs, the bank said in its release. 

Others business and industry-specific advocacy groups have sounded alarms in recent months about the headwinds facing entrepreneurs.  

• Association of Washington Business’ most recent quarterly survey indicated that roughly one in four of 400 surveyed business owners said they are looking to move their business out of the state due to the state’s growing tax burden. Nearly half expect a recession in the next year, up from 34% last quarter and up 29 points since winter 2025. 
• The Associated General Contractors of America recently reported that more than half of the nation’s 360 largest metro areas saw construction employment losses over the past year as contractors struggle with rising costs, ebbing demands for some sectors, and political threats to various types of infrastructure construction. 

Columbia Bank’s annual study offers a stark difference in perception: 

• Nearly three out of four surveyed business owners anticipate increased demand over the coming 12 months and more than half anticipate increased revenue and profitability. 
• 70% are likely to borrow to invest in expansion with more than half of respondents saying they are likely to increase their real estate footprint and number of employees.  
• One in three said they are likely to acquire another business. 

Go to: columbiabank.com/business-barometer.