FOR IMMEDIATE RELEASE
Contact: Patrick Connor, Washington State Director, patrick.connor@nfib.org,
or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org

OLYMPIA, Wash., Jan. 14, 2025—Is the five-year drought of good small business news finally over? Today’s release of the latest Small Business Optimism Index from the National Federation of Independent Business (NFIB) would lead everyone to believe it is, with the net percent of owners expecting the economy to improve rising 16 points from November to a net 52% (seasonally adjusted), the highest since the fourth quarter of 1983.

Additionally, the percent of small business owners believing it is a good time to expand their business rose six points to 20%, seasonally adjusted. This is the highest reading since February 2020.

“We urge the Legislature not to dampen small business optimism in Washington state,” said Patrick Connor, state director for NFIB in Washington. “A flood of bills threatening to impose new pay and leave requirements, increase taxes and social insurance premiums, revoke long-standing exemptions, and otherwise drown small businesses in new and higher costs have already been introduced. The solution to Olympia’s budget woes is vibrant, not vacant Main Streets across the state. Lawmakers would be wise to aid in small business recovery, not add to its economic misery.”

NFIB’s monthly Small Business Optimism Index is the gold standard measurement of America’s small business economy. Used by the Federal Reserve, Congressional leaders, administration officials, and state legislatures across the nation, it’s regarded as the bellwether on the health and welfare of the Main Street enterprises that employ half of all workers, generate more net new jobs than large corporations, and gave most of us the first start in our working life. The Optimism Index (aka Small Business Economic Trends report) is a national snapshot of NFIB-member, small-business owners not broken down by state. The typical NFIB member employs between one and nine people and reports gross sales of about $500,000 a year.

From NFIB Chief Economist Bill Dunkelberg

“Optimism on Main Street continues to grow with the improved economic outlook following the election. Small business owners feel more certain and hopeful about the economic agenda of the new administration. Expectations for economic growth, lower inflation, and positive business conditions have increased in anticipation of pro-business policies and legislation in the new year.”

Highlights from Latest NFIB Small Business Optimism Index

• The net percent of owners expecting the economy to improve rose 16 points from November to a net 52% (seasonally adjusted), the highest since the fourth quarter of 1983.
• The percent of small business owners believing it is a good time to expand their business rose six points to 20%, seasonally adjusted. This is the highest reading since February 2020.
• The net percent of owners expecting higher real sales volumes rose eight points to a net 22% (seasonally adjusted), the highest reading since January 2020.
• A net 6% (seasonally adjusted) of owners plan inventory investment in the coming months, up five points from November and the highest reading since December 2021.

Keep up with the latest Washington state small-business news at www.nfib.com or on X @NFIB_WA or on Facebook @NFIB.WA

###

For more than 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.

NFIB Washington
111 – 21st Avenue Southwest
Olympia, WA 98501
360-786-8675
NFIB.com/WA
Twitter: @NFIB_WA
Facebook: @NFIB.WA