From many of our business owner clients, we have been hearing lots of good things. We thought it was a good time to check in with the NFIB who proclaim themselves as the voice of small business. Their research foundation has collected and reported on small business trends dating back to 1973. Each month, the Small Business Optimism Index is released. May’s report confirms what many of our clients are telling us. Highlights include:
- Since the November 2016 US Presidential election, the index has been abnormally high. The index rose again in May and now is the second highest reading ever.
- “Small business owners are continuing an 18-month streak of unprecedented optimism which is leading to more hiring and raising wages,” said NFIB Chief Economist Bill Dunkelberg.
- Finding qualified workers remains the single largest headache for employers.
- Small business owners remain optimistic due to deregulation and corporate tax cuts.
A very optimistic group! This bodes well for the US economy which is approaching its longest expansion ever.