Xero Small Business Insights (XSBI)

We use anonymised and aggregated data to track the performance of, and improve understanding about, small businesses.

Understand how the index is calculated.

Xero Small Business Index

The Xero Small Business Index is a single measure that shows changes in the performance of small businesses from month to month.

Small business sales

In Canada and the United States the main indicator we track is small business sales, measured in year-over-year (y/y) terms.

  • A line graph showing changes to the Small Business sales in the United States

    United States sales

    Small business sales in the United States slowed to a still healthy 11.3% y/y in March 2022.

  • A line graph showing changes to the Small Business sales in Canada

    Canada sales

    Small business sales in Canada slowed to just 5.0% y/y in March 2022.

Global updates and data

This month’s global update

The latest on the state of small businesses around the world.

Download July update (PDF)

This month’s data

Download all the Xero Small Business Index data in Excel format.

Latest data (ZIP file)


An explanation of data sources and how the index is constructed.

Learn about the index

Small business research hub

For deeper insights and analysis, explore the latest commentary, research, and data from the global small business sector.

Commentary and research

Find the latest economic commentary and research, viewed through a small business lens.

View all monthly blogs and notes

Special reports

Take a deep dive into specific small business data and topics.

View all research reports

Mindset research

Explore research into the mindset and motivations of small business owners around the world.

View all mindset research and videos

Contact us about Xero Small Business Insights

Arming small business owners with simple but powerful insights. If you have any questions, reach out to us.