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Key Takeaways Take note of recurring costs or underperforming investments. Evaluate current revenue streams and consider introducing new products, services, delivery mechanisms or promotions.
Assess operational readiness, scrutinize current workflows and technology platforms, and evaluate staffing, inventory and supply chain readiness.
Whether summer brings a surge or a slowdown, there are many opportunities for companies to engage customers or lay the groundwork for a strong fourth quarter.
Bank of America Institute’s Small Business Checkpoint reported that small business profitability in February improved despite cost pressures. It rose 1.2% year-over-year to the strongest reading since March 2025, demonstrating small businesses’ resilience amid lingering inflationary pressures.
Hiring, on the other hand, remains a sticking point. In March, 32% of small business owners surveyed by the National Federation of Independent Business reported job openings they could not fill. Unable to efficiently grow their workforce, many owners are leveraging technology — including artificial intelligence — to do more with less.
Now, with the second quarter in full swing, there’s no better time for entrepreneurs to pause, assess and recalibrate before the summer months.
Here are three tips they can follow to set their businesses up for a strong second half of the year.
1. Freshen up financials
Despite the profitability rebound in the first quarter, economic uncertainty lingers, and prices continue to climb. According to a March report from Small Business Majority, 64% of business owners reported their expenses had risen over the prior three months. Luckily, with tax season behind them, owners now have a clear picture of their 2025 financial performance — a natural starting point for revisiting budgets, cash flow and spending habits.
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