NFIB President Brad Close recently appeared on Bloomberg's "The Close" to discuss the notable rise in the Small Business Optimism Index. This index, for the first time since 2021, exceeded its 50-year average in November.

Close pointed out several reasons behind this increased optimism among small business owners. He mentioned expectations of new leadership that promises legislation and regulation favorable to small businesses, which could lead to significant economic growth.

"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," said Close. He emphasized how small business owners are hopeful about an administration focused on addressing key concerns like tax policy and reducing regulations.

One major issue for small businesses is the Small Business Deduction. This provision allows them to deduct 20% of their income on taxes. It was introduced in 2017 but is set to expire soon. "Small business owners know that, and they are very optimistic that the incoming administration which has said that they want to extend and make that provision permanent is ready to get started on that," Close added.

Close also highlighted how NFIB members typically have five to ten employees, reflecting a significant portion of the national small business landscape. He noted these businesses tend to recover slowly from economic downturns but expressed hope for improvement over the next six months given current optimism levels.

For eight decades, NFIB has been advocating for America's small and independent businesses across all states and remains committed to this mission today.