Press release, NASHVILLE, Feb. 13, 2018–The
Small Business Optimism Index jumped two points to 106.9 in January and
set a record with the number of small business owners saying Now Is a
Good Time to Expand, according to NFIB’s Small Business Economic Trends Survey, released today.
“Main Street is roaring,” said NFIB President and CEO Juanita Duggan.
“Small business owners are not only reporting better profits, but
they’re also ready to grow and expand. The record level of enthusiasm
for expansion follows a year of record-breaking optimism among small
businesses.”
State-specific data is unavailable, but NFIB State Director Jim Brown said the national trends are reflected here.
On
the survey, "Now Is a Good Time to Expand" registered at 32 percent,
the highest level in the history of the NFIB survey, which began in
1973. "Actual Earnings" climbed up 11 points from December, the highest
level reported since 1988. "Plans to make Capital Outlays" jumped up two
points, and "Plans to Increase Inventories" gained four points.
“The
historically high index readings over the last year tell us small
business owners have never been more positive about the economy,” said NFIB Chief Economist Bill Dunkelberg.
“This is in large response to the new management in Washington tackling
the biggest concerns of small business owners – high taxes and
regulations.”
As
small business owners struggle to find qualified workers for open
positions, reports of higher worker compensation rose four percentage
points to a net 31 percent, the highest reading since 2000 and among the
highest in the 45 years of NFIB’s survey. Plans to raise compensation
also rose one point to a net 24 percent, the highest reading since
1989.
“Finding qualified workers now exceeds taxes and regulations as the top concern for small businesses,” said Duggan.
Click here to view the NFIB Small Business Economic Trends Survey For more information about NFIB, please visit www.nfib.com.
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