The 2025 Beyond Wealth Report for Business Owners from First Citizens Wealth, conducted with Logica Research, examines how business owners with at least $500,000 in investable assets are managing both business and personal finances in a complex economic environment. Based on a survey of 500 U.S. business owners, the study explores funding strategies, operational changes, exit planning and retirement decisions.

Owners adjust operations while staying focused on growth

Business owners are actively responding to economic pressures, with 34% adjusting pricing, followed by increases in marketing (23%) and changes to vendor relationships (22%). These actions reflect a focus on maintaining stability while continuing to invest in growth.

Most businesses are self-funded, with 66% of owners using personal savings and 40% relying on bank loans. More experienced owners are more likely to use outside funding sources such as private equity or venture capital.

Exit planning is limited despite long-term intentions

Just over half of business owners (53%) report having an exit strategy, and most do not plan to exit within the next decade. Among those who do plan to exit, selling to current stakeholders, including family members, is the most common path.

Exiting a business does not always signal retirement. Only 41% of owners say they plan to retire after exiting, while many expect to stay active through new ventures or other pursuits.

Business ownership shapes retirement and financial decisions

The report shows that owning a business has a direct impact on financial planning, with 44% of owners increasing retirement contributions and 36% working with professionals to manage retirement strategies. On average, business owners have $1.8 million saved for retirement, slightly more than non-owners, but they also carry higher levels of debt and are more likely to delay retirement, expecting to retire at age 66.

Ownership remains driven by purpose, not just financial gain

Nearly all business owners (94%) say owning a business is “worth it,” citing personal fulfillment and a sense of control as the primary benefits, rather than financial potential alone.

To learn more, access the study here: https://www.firstcitizens.com/wealth/insights/business-planning/beyond-wealth-report

About the study

First Citizens Wealth’s 2025 Beyond Wealth Report for Wealthy Americans was conducted in partnership with Logica Research. The study is based on an online survey fielded in August and September 2025 among 1,100 U.S. adults with at least $500,000 in investable assets.