State’s historic pro-growth improvements will set all Arizonans up for success
PHOENIX, July 13, 2021—From Chad Heinrich, Arizona state director for the National Federation of Independent Business on today’s release of NFIB’s latest Small Business Economic Trends (SBET) report, aka the Optimism Index, is the bellwether measurement of the Main Street economy.
“While it’s nice to see small business owner optimism ticking upward, the big news in Arizona is the work our state lawmakers and Governor Ducey just completed during the legislative session. Our small businesses will soon be cooking with gasoline when the policies from this year’s legislative session go into effect. Making historic pro-growth improvements to our individual income tax code and business property tax system will set all Arizonans up for success by growing the economy, creating jobs, and nurturing small businesses.”
The SBET is a national snapshot not broken down by state.
From NFIB Chief Economist Bill Dunkelberg
“Small businesses optimism is rising as the economy opens up, yet a record number of employers continue to report that there are few or no qualified applicants for open positions. Owners are also having a hard time keeping their inventory stocks up with strong sales and supply chain problems.”
Key findings include:
- Owners expecting better business conditions over the next six months rose 14 points to a net negative 12%, an improvement but still in very negative territory.
- Earnings trends over the past three months improved six points to a net negative 5%.
- The net percent of owners raising average selling prices increased seven points to a net 47% (seasonally adjusted), the highest reading since January 1981.
Note to Reporters
Today’s Optimism Index follows on the heels of yesterday’s latest COVID-19 poll of NFIB ‘s small-business owning membership. Jump to Question 20 and on to see how small-business owners are dealing with staffing shortages.
Keep up with the latest on Arizona small business news at www.nfib.com/arizona or by following NFIB on Twitter @NFIB_AZ
For 78 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 its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.