Guardian report finds small business owners’ confidence may be masking financial vulnerabilities
July 15, 2026 by Guardian
NEW YORK, July 14, 2026 /PRNewswire/ — Small business owners are setting ambitious goals and looking to the future with confidence, but a new report from The Guardian Life Insurance Company of America® (Guardian) suggests many may be pursuing those ambitions without necessary financial safeguards.
Read the full ‘Big Goals, Fragile Foundations’ report here.
Confidence outpaces preparedness
According to the report, small business owners express strong confidence in their future, with 86% saying they’re on track to meeting their financial goals and 60% reporting they feel very confident about the outlook for their business.
Yet that optimism is not always backed by preparedness. Fewer than half (47%) rate their financial management skills highly. External pressures also continue to weigh heavily, with 42% citing the economy, cost of living, and inflation as their top stressors. Additionally, nearly two-thirds of small business owners say they’ve experienced a significant personal stressful event in the past two years.
“Small business owners invest enormous amounts of time, energy, and personal commitment into building their businesses. For many, their business is also their largest financial asset,” said Nancy DeRusso, Head of Client Solutions at Guardian. “Without the right financial strategies in place, owners may face challenges turning that hard-earned value into long-term financial security. A financial advisor can help connect business, personal, retirement, and protection goals so owners are better positioned to capitalize on what they’ve built.”
Not (fully) retiring to fund retirement
Retirement planning is the clear priority for small business owners, and 67% believe they are on track with their retirement savings.
Nevertheless, 70% of small business owners say retirement means “not fully retiring”—they plan to work or at least consider working in some capacity. More than a quarter of small business owners also say they only need to plan for fewer than 10 years of being fully retired.
This discrepancy can signal uncertainty about whether accumulated savings will truly cover a longer retirement horizon. According to the report, 40% of small business owners currently worry about outliving their savings and only 34% have a guaranteed income source in retirement.
Owners are leaving value unprotected
Although retirement planning is top-of-mind for small business owners, many have not taken the steps to ensure they can successfully transition, protect, or monetize the business they’ve spent years building.
Per the report, 65% of small business owners have discussed at least one business continuity planning topic with a financial advisor. But plans are not always being put into action—just 34% have a succession plan in place. Further, only 30% of small business owners have key person insurance, 24% have a buy-sell agreement, and 19% have a disability buyout.
One bright spot for the future: 55% of small business owners would like to discuss succession planning with an advisor.
Additional findings from the report include:
- The most common ways small business owners wish to use their success include creating generational wealth (52%), retiring early (39%), and funding a child’s education (26%).
- In the next five years, small business owners most want to achieve steady, organic revenue growth (42%), expand their workforce (31%), and maintain their current business size and raise more capital (28%).
- Among small business owners who feel most financially confident, 70% work with a financial advisor.
To learn more and view the full report, visit https://www.guardianlife.com/reports/financial-fitness/small-business-brief.
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About Guardian
Guardian is making a difference in people’s lives across the US as a leading mutual company, providing life and disability insurance, dental and workforce benefits, retirement and wealth solutions. But we offer more than products. We partner with our customers to inspire well-being® — mind, body, and wallet®. Since 1860, when a community of immigrants joined together to protect their families and companies, we have embraced the spirit of mutuality as a mindset. We provide solutions that build financial confidence for individuals, strengthen businesses, and help employees thrive. Working as your partner, we invest in you, holding ourselves accountable not to shareholders, but to your long-term well-being. All of our colleagues share this mindset. Our collaborative culture extends beyond our workplace to uplift communities all around us. Because we believe value grows when it’s shared. We’re here for you today and we’ll be here to deliver on our promises tomorrow. Our commitments rest on a strong financial foundation, which includes a 2026 dividend allocation of $1.7 billion, the largest in the company’s history. For more information, visit guardianlife.com or follow us on Facebook, LinkedIn, and YouTube.
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SOURCE Guardian
