Small businesses in Brazil face similar challenges that United States small businesses face in everyday business transactions. However, each nation has differences that exist in terms of social-cultural, monetary value, and political decisions in day-to-day transactions. In order to address the current challenges of Brazil and United States small businesses, it is significant to understand the current problems facing Brazil and United States small businesses. The paper focused on the current challenges facing Brazil and United States in terms of economic recession, unemployment, lack of adequate strategic and financial plans, and low gross domestic product (GDP) annual growth rates. The paper also addressed three research questions (a) Is it important to have a strategic plan in both nations? (b) Are financial planning, market research, and resource accessibility vital in the success of small businesses operations in both nations? (c) What roles do the governments of United States and Brazil play in the growth of small businesses? (d) What is the relationship between gross domestic product (GDP) annual growth rate and Inflation? (e) What is the relationship between the government debts, unemployment, and closing of small businesses? The paper therefore addressed the current challenges of small businesses in Brazil and United States and made conclusions for addressing the identified challenges.