The Business Model: Why 3.5 Million SMEs Are Cautiously Optimistic

In today’s economic climate, business leaders, particularly those of small and medium-size businesses, are rightfully cautious. However, despite inflation, ongoing war, and other factors, Sharon Miller, Bank of America’s president of Business Banking, says this of BoA’s client base:    “As we enter 2026, balance sheets were stable and profitability had actually risen from a year ago. So, when you look at what’s happening in our client base—and we serve 3.5 million small and medium-size companies in the U.S.—what we’re seeing is certainly cautious optimism, but we are seeing growth in our local communities.”    On this episode of The Business Model, Inc. senior staff writer Melissa Angell recently sat down with Miller for a conversation about borrowing, the business of banking, and the role of AI.