PROVIDENCE, R.I.—Small and midsize businesses that prioritize financial insight are seeing stronger outcomes, according to the fourth annual Citizens Business Report Survey from Rhode Island-based Citizens Bank.
The survey found that the most optimistic U.S. SMBs—those expecting growth over the next five years—tend to regularly seek expert financial guidance and make consistent use of data tools. Specifically, these businesses consult with CPAs, attorneys, or business bankers at least monthly and use financial monitoring applications weekly or more often.
Key findings include:
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Expert guidance leads to better results:
49% of business leaders who seek financial advice from experts cite improved decision-making as the primary benefit, while 48% point to increased profitability -
Bankers play a central role:
84% of advice-driven businesses say their business banker is a vital part of their financial advisory team, helping with access to credit, cash flow visibility, and strategic planning -
Succession planning is a priority:
94% of businesses that emphasize advice and data have either developed a succession plan with an expert or intend to do so -
Tactical advantage:
Businesses that combine expert insight with financial data tools report improved cash management, stronger planning, and more confident decision-making—critical capabilities in an evolving economic landscape
Overall, the report highlights a clear pattern: SMBs that embrace professional financial advice and real-time data are better positioned to grow, adapt, and succeed.