Live Oak BusinessPulse 

Insight and Analysis of Small Business Sentiment and Economic Trends

The BusinessPulse provides detailed analysis and reporting on small business sentiment, including economic position, economic confidence, and credit outlook for small and middle market companies. Take a deep dive into the Q4 data and discover how businesses feel about their past performance and what they expect in the next 12 months.


20_LOB_Illustrations_Indigo_Business Pulse

Dedicated to the Doers®

Small business is the backbone of our country. It drives jobs, creates prosperity and boosts local economies. We’re proud to contribute to that growth by investing in America’s small business owners. When you bank with Live Oak, you can be proud too.

key takeaways



Sales And Profits Are Deteriorating

Small business owners’ fourth-quarter expectations are weakening as sales and profits have deteriorated.



Cash Reserves Are Deflated

Small business cash reserves continue to be deflated while prices remain elevated. Most small businesses anticipate holding on to what cash they have.



Credit Demand Is Increasing

Demand for additional credit increased from a low point in the previous two quarters. Small businesses are increasingly more likely to apply for additional credit to support growth.

Source: Live Oak Q4 2023 BusinessPulse Survey Results (Powered by Barlow Research)

About Barlow Research

Barlow Research surveys more than 2,800 companies annually across the U.S. to gather current viewpoints and draws on years of data to provide in-depth research on economic trends to the commercial banking sector. Barlow has a long-standing relationship with Live Oak Bank, primarily through powering the BusinessPulse. In addition, Barlow Research has provided industry analysis for vertical selection, competitive intelligence on the digital account opening and lending processes. Live Oak Bank is also a member of Barlow Research’s flagship Small Business Banking program. 

Joel Mueller
Managing Partner & Research Director | 763.253.1806
Barlow Research Associates, Inc.
917 Lilac Drive North, Minneapolis, MN 55422