State and federal actions help lift optimism, produce results
PHOENIX, Ariz., July 10, 2018—The nation’s small-business economy showed continued job-creating, wage-boosting vibrancy, according to today’s release of the monthly Small Business Economic Trends report by NFIB.
“New leadership in Washington is halting the federal regulatory machine, Congress followed through and passed the Tax Cuts and Jobs Act, but before all this occurred, Arizona was leading the way and setting the stage for economic growth with Gov. Doug Ducey’s regulatory reform agenda,” said Chad Heinrich, NFIB’s Arizona state director. “Arizona continues to move toward a more prosperous future; ranking #1 in the nation for entrepreneurial activity, seventh lowest in average workers’ compensation costs, and second lowest in unemployment insurance tax. These are conditions that will keep businesses coming here and growing.”
The NFIB Research Center has collected Small Business Economic Trends data with quarterly surveys since the 4th quarter of 1973 and monthly surveys since 1986. Survey respondents are drawn from NFIB’s membership. The report is released on the second Tuesday of each month. Today’s survey was conducted in June 2018.
“Small business owners continue to report astounding optimism as they celebrate strong sales, the creation of jobs, and more profits,” said NFIB President and CEO Juanita Duggan. “The first six months of the year have been very good to small business thanks to tax cuts, regulatory reform, and policies that help them grow.”
Added NFIB Chief Economist William Dunkelberg, “There was a fractional decline in the Index from May to June, statistically insignificant. Small business owners are already seeing their bottom lines grow due to strong sales and regulatory relief and the new tax law is expected to push profits higher as the year progresses.”
The national news release on today’s Small Business Economic Trends report can be read here. Keep up with the latest on Arizona small-business at www.nfib.com/arizona or by following NFIB on Twitter @NFIB_AZ
For more than 75 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 nonprofit, nonpartisan, and member-driven. 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.