WSFS Bank Survey Reveals Mid-Atlantic Small Businesses Are Resilient Amid Economic Pressures

WSFS Bank (Nasdaq: WSFS) released a Mid-Atlantic small business survey showing 92% of respondents say performance meets or exceeds expectations despite inflation and tariff concerns.

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05/19/2026 - 12:04 PM EDT

92% report meeting or exceeding their expectations despite inflation and tariff concerns

WILMINGTON, Del.--(BUSINESS WIRE)-- Small business owners and senior decision-makers in the Mid-Atlantic region are reporting strong resilience. Despite persistent inflation and tariff-related uncertainty, 92% say their businesses are currently meeting or exceeding their performance expectations. According to a new survey from WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), optimism is equally strong looking ahead, with 66% of respondents agreeing their businesses will grow over the next 12 months.

The survey, which polled 505 small business decision-makers, found larger organizations with 100 to 499 employees and newer organizations founded within the last five years to be the most confident, with 77% in each group expressing optimism for their next year of operations. More than half of all owners and decision-makers (52%) also expect revenue to increase over the coming year. These findings suggest that despite a volatile economic backdrop, small business owners are finding effective ways to sustain and build momentum.

“Small business owners have proven to be skilled navigators of uncertainty, turning economic challenges into opportunities for refinement,” said Candice Caruso, Senior Vice President, Chief Business Banking Officer, WSFS Bank. “At WSFS, we aim to meet businesses where they are. Whether they need assistance managing cash flow or seeking guidance to manage risk, we’re proud to provide the lending options and advisory support to help owners grow their businesses in any economic climate.”

Challenges Facing Small Businesses
Despite the overall positive outlook, economic uncertainty and inflation continue to weigh heavily on the small business community. Among leaders surveyed who reported negative impacts, 52% cited inflation as the primary driver of decreased performance, followed by the cost-of-living crisis (43%), tariff-related uncertainty (40%), and recession concerns (33%).

However, business owners are taking proactive steps to protect their cash flow. More than half (51%) have reduced non-essential spending, while 31% have shifted to lower-cost suppliers and 27% have renegotiated contracts with existing vendors. These strategic shifts and creative solutions for marketing and content creation reflect a broader pattern of pragmatic adaptability in the face of external pressures.

Banking Expectations and Partnership Satisfaction
The survey also explored what small business owners expect from their banking relationships. Overall satisfaction between small businesses and their banking partners remains high at 84%, though the data suggests that smaller, newer, and lower-revenue businesses may benefit from deeper banking relationships that provide additional expertise and resources to help them succeed.

"Our Associates are focused on helping business owners connect the dots from managing day-to-day financial needs to planning for long-term growth," Caruso said. "As a trusted advisor, we provide guidance that’s practical, personalized, and grounded in what each business is trying to achieve."

The Role of Artificial Intelligence (AI)
Technology plays an increasingly central role in how small businesses operate. Four in five (81%) respondents report using AI tools for at least one business function, with data analysis and information gathering (43%) and marketing and content creation (42%) emerging as the top use cases. Technology adoption is widespread for larger businesses with annual revenues above $250K integrating these tools at more advanced rates than their smaller counterparts, suggesting that resources and scale continue to shape how businesses embrace AI.

Survey Methodology
The survey was conducted by market research and insights agency Opinium. The sample includes a survey of 505 small business owners/decision-makers in the Mid-Atlantic region, with annual revenues of up to $5 million and a minimum of two employees. All respondents were over the age of 18. The online survey was conducted from March 18 – March 28th, 2026. It has a margin of error of +/- 4 percent.

Learn more about the survey at wsfsbank.com/smallbusinesssurvey.

About Opinium, Inc.
Opinium is an award-winning strategic market research and insights agency built on the belief that in a world of uncertainty and complexity, success depends on the ability to stay on pulse of what people think, feel and do. Creative and inquisitive, Opinium is passionate about empowering clients to make the decisions that matter. The company works with organizations to define and overcome strategic challenges – helping them to get to grips with the world in which their brands operate. Opinium uses the right approach and methodology to deliver robust insights, strategic counsel and targeted recommendations that generate change and positive outcomes.

About WSFS Financial Corporation
WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and wealth management franchise in the Greater Philadelphia and Delaware region. As of March 31, 2026, WSFS Financial Corporation had $22.1 billion in assets on its balance sheet and $97.6 billion in assets under management and administration. WSFS operates from 114 offices, 87 of which are banking offices, located in Pennsylvania (58), Delaware (38), New Jersey (14), Florida (2), Nevada (1) and Virginia (1) and provides comprehensive financial services including commercial banking, consumer banking, treasury management, and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Trust Advisors, LLC, Bryn Mawr Trust®, The Bryn Mawr Trust Company of Delaware, Cash Connect®, NewLane Finance®, WSFS Wealth® Management, LLC, WSFS Institutional Services®, and WSFS Mortgage®. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.