Holly Wade, Executive Director of the NFIB Research Center, recently spoke with Brad Smith on Yahoo! Finance about the current state of the small business economy and the rising uncertainty facing Main Street. The discussion focused on findings from NFIB's September SBET survey, highlighting issues such as inflation, financing costs, and tax pressures that are contributing to increased uncertainty among small business owners.

Wade pointed out that uncertainty has reached an all-time high in their 50-year survey history. She attributed this to several factors including election-related uncertainties and potential tax hikes by the end of 2025. These concerns are affecting how small businesses plan for future operations.

"In addition to that, is what the [Federal Reserve] is doing," Wade noted. She explained that decisions regarding financing capital expenditures and business expansion are being impacted by expensive financing conditions faced by many small business owners.

The labor market remains a topic of interest. Wade mentioned a decline in reports of unfilled job openings but noted that levels remain high compared to 2019. Hiring plans have also decreased from previous highs, yet the labor market still appears strong according to survey responses.

Tax rates are another significant concern for small businesses. Wade highlighted worries about the expiration of the 20% Small Business Deduction from the 2017 Tax Cuts and Jobs Act at the end of next year. Businesses hope Congress will pass legislation to make this deduction permanent.

"We’re still seeing almost a quarter of our members saying inflation is their single biggest problem in operating their business," Wade added, emphasizing ongoing challenges posed by inflation.

For more insights from Holly Wade's interview, visit: https://finance.yahoo.com/video/inflation-election-compounding-small-business-170112841.html