Small Industry Outlook
The Small Industry Outlook analyzes, on a quarterly basis, small industry data collected by the Industrial Survey, Construction Industry Survey, and Business Confidence Index. The Outlook includes three new indices: the Performance Index, which measures the performance of small industry activity in the quarter; the Financial Situation Index, which assesses the financial situation of small enterprises; and the Outlook Index, which reveals business expectations. The survey also analyzes the main problems faced by small industry and the behavior of the ICEI index, considering only small companies.
High tax burden is the main concern for entrepreneurs, who have shown a lack of confidence for the past 14 months
In the fourth quarter of 2025, the high tax burden remained at the top of the ranking of the main problems facing small-scale Brazilian industries. The performance and financial situation of these industries remained at relatively positive levels, despite a slight decline observed at the end of 2025. The outlook for small-scale industries fluctuated around the historical average throughout 2025 and began 2026 showing some moderation. Meanwhile, the Small Business Confidence Index completed its 14th consecutive month below 50 points, indicating a lack of confidence among business owners.
February 9, 2026
