Huntington Report Flags Optimism Gap in SMB Succession Planning

Event summary

  • Huntington's 2026 Beyond Business Report surveyed 753 SMB decision-makers, revealing 54% expect ownership changes by 2030
  • Only 45% of businesses have formal succession plans, dropping to 39% for smaller firms
  • 95% of businesses cite rising costs and wage pressures as major concerns
  • 27% of businesses lack a primary business advisor

The big picture

Huntington's report highlights a strategic disconnect between rising SMB optimism and preparedness for ownership transitions, reflecting broader industry challenges in wealth transfer and operational resilience. The findings underscore the growing need for specialized advisory services as small and mid-sized businesses navigate economic stabilization and evolving risk landscapes.

What we're watching

Succession Readiness
How the 54% of businesses expecting ownership changes will address the 45% succession planning gap, particularly among smaller firms where readiness is lowest
Cost Pressures
Whether SMBs can sustain profitability against 95% reporting rising costs, particularly in wage and supplier expenses
Advisory Demand
The pace at which businesses without primary advisors will seek specialized guidance as complexity increases