National Federation of Independent Businesses (NFIB) survey data shows small business owners are feeling more optimistic about the economy but increasingly concerned about inflation, which has consistently been cited as their top operating problem for over a year.FOX Business spoke with two Midwest small business owners Tuesday about their take on the economy, and both said that while their businesses are doing fine, many of their customers are not.Penny Olson, owner of Waukesha Antique Mall in Waukesha, Wisconsin, says her business is doing well overall, but she has noticed a slowdown in foot traffic and an increase in people selling their heirlooms.”I think that people are stressed out by politics and the economy, and this is kind of like their chocolate, you know,” Olson told FOX Business, “where they buy things for pleasure, to make them feel good.”INFLATION IS STILL A BIG CONCERN FOR SMALL BUSINESSES: CODIE SANCHEZWaukesha Antinque Mall has been in operation for 35 years, and Olson has owned the shop for the last 12. She said all of her business’s costs have gone up in recent years, from the electric bills to garbage pick-up to advertising, and that increase in expenses is “one thing that small businesses
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Small business optimism soars in anticipation of Trump 2.0
by Successful IBO • • 0 Comments
The anticipation of Donald Trump returning to the White House sparked a surge of optimism on Main Street, according to multiple post-election surveys.The National Federation of Independent Business’ (NFIB) latest Small Business Optimism Index jumped 8 points to 101.7 in November, with the election results indicating a significant shift in economic policy from the Biden-Harris administration, breaking a 34-month streak of record-high uncertainty with the highest reading since June 2021.That’s the first time the reading has risen above the 50-year average over the past 2.5 years. Of the 10 Optimism Index components, nine increased, none decreased, and one was unchanged last month from October.”In a nutshell, economic policy matters, and there’s no doubt that the election results spurred a lot of the optimism, that surge in optimism, that we saw in our monthly economic survey,” NFIB President Brad Close told “Bloomberg: The Close” this week. DC PIZZA SHOP FACES BACKLASH OVER CONGRATULATORY TRUMP TWEET”Small business owners are looking forward to an administration coming in that’s going to address the concerns that the little guys — half the economy in America — really cares about, and that’s tax policy, that’s cutting regulations and getting the economy going again,” Close added.In the days
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Small business optimism jumps to 6-year high following Trump win
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America’s small business owners are feeling better about the economy than they have in six years, in anticipation of President-elect Trump returning to the White House.The National Federation of Independent Business’ (NFIB) latest Small Business Optimism Index jumped 3.4 points to 105.1 in December, the highest reading since October 2018.This is the second consecutive reading above the 50-year average, after the November index broke a 2.5-year streak that same month as Trump’s win.At the same time, the NFIB’s Uncertainty Index plunged 12 points last month, falling to 86.JAMIE DIMON WEIGHS IN ON TRUMP’S WIN, POLICIES HIS ADMIN SHOULD FOCUS ON”Optimism on Main Street continues to grow with the improved economic outlook following the election,” said NFIB Chief Economist Bill Dunkelberg. “Small business owners feel more certain and hopeful about the economic agenda of the new administration.”Dunkelberg added, “Expectations for economic growth, lower inflation, and positive business conditions have increased in anticipation of pro-business policies and legislation in the new year.”The survey comes as the outgoing Biden-Harris administration continues to tout its economic policies, pointing to growth and low unemployment numbers. But the high inflation and heavy regulations of the past four years were felt on Main Street.BIDEN’S GREEN NEW DEAL