Barlow Research's Economic Pulse study found 43% of small business owners do not intend to retire and those who do said they plan to work, on average, until they're 67 years old. Of those small business owners who intend to retire, 72% still plan on working part-time after they retire.

The study also found small business and middle market confidence in the U.S. economy fell in the third quarter. Expectations for the financial condition of their company fell 14 points as well, with one in 10 small businesses switching financial institutions.

 "Small business confidence has once again declined, but the negative effects have yet to reach the banking industry. If confidence remains negative, we need to be prepared for a further decline in loan demand. Business owners may not retire, but they will continue to retreat from risk," said Bernie Kuechler, project director at Barlow Research.

Kylie Hennagin writes for Financial Planning.