The National Federation of Independent Business (NFIB) has released its latest Small Business Optimism Index, revealing a significant rise in confidence among small business owners. The index increased to 101.7 in November, surpassing its 50-year average of 98. This marks the end of a 34-month period where the index remained below the half-century average.
Suzanne Budge, NFIB's state director for Idaho, commented on the positive development: “This is the best news to come around in a long time.” She credited Governor Brad Little and state legislators for their efforts over the past three years in supporting local businesses against national economic challenges.
NFIB Chief Economist Bill Dunkelberg attributed the surge in optimism to recent election results, which he believes signal a shift in economic policy. He noted that small business owners are now more confident about future business conditions and hopeful for favorable tax and regulation policies.
Key findings from the report include a 41-point increase in the net percentage of owners expecting economic improvement, reaching a net 36%, the highest since June 2020. Additionally, there was an eight-point rise in those believing it is a good time to expand their business, reaching a net 14%, and an 18-point increase in expectations for higher real sales volumes.
The NFIB's Small Business Optimism Index is widely regarded as an essential measure of America's small business economy. It serves as an indicator for policymakers at various levels of government regarding the health of Main Street enterprises.
For further details on Idaho's small-business news, visit www.nfib.com/idaho or follow NFIB Idaho on X @NFIB_ID.
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