The 2025 Intuit QuickBooks Small Business Index Annual Report delved into how small businesses are navigating credit, employment, banking conditions, and technology adoption. For accountants, the results reveal various areas where client advisory work is expected to continue to expand in the coming year.
According to Accounting Today, the report reveals a remarkable turn toward credit cards as a main financing tool, with 55% of the surveyed US businesses charging over a quarter of their monthly expenses to credit cards. Larger balances, combined with higher interest rates, have driven monthly interest costs higher, underscoring the need for closer budgeting and debt-management conversations.
As Marcus Dillon of Dillon Business Advisors noted, “When small business owners allocate more budget to loan and interest payments, less cash flow is available for investing in new team members, technology, or marketing.”
Bank behavior also is driving client incomes, as traditional lenders have curtailed term lending and expanded credit card offerings, and the report found that businesses whose bank was disproportionately hurt by higher interest rates experienced slower revenue and job growth.
Dillon indicated that “partnering with the right bank” is an increasingly strategic decision which accountants can bring valuable advice.
Employment trends remain uneven, but payroll advisory continues to be a natural extension of client support, as businesses scale their workforce up or down. Technology emerges as a consistent stabilizer throughout the report. Small firms with strong digital integration reported higher productivity, better revenue performance, and greater confidence.
As KC Eames of Dark Horse CPAs pointed out, “small businesses that are highly digitized grow faster,” which presents an opportunity for firms to guide clients on tech adoption and AI tools.
Taken together, these insights reflect a year in which advisory, planning, and technology guidance will remain integral to supporting small business clients.