In 2018, small business owners are celebrating tax reform and a gangbusters economy.
NFIB’s Small Business Optimism Index declined to 104.9 in December, but 2017 remained the strongest year of the Index yet with an average of 104.8.
“2017 was the most remarkable year in the 45-year history of the NFIB Optimism Index. With a massive tax cut this year, accompanied by significant regulatory relief, we expect very strong growth, millions more jobs, and higher pay for Americans,” said NFIB president and CEO Juanita Duggan.
Still, the picture is more mixed in Colorado. In his glossy State of State Address, Gov. John Hickenlooper talked up his record on cutting regulations.
“We cut red tape, promoted the state not just to tourists, but as a pro business destination for aspiring entrepreneurs; championed innovation and technology and made it easier for small-businesses to get a loan,” he said. “The Colorado Blueprint made it easier for people to create and grow their own businesses, and helped make Colorado a place that loves entrepreneurs.”
Responding to the address, NFIB/Colorado State Director Tony Gagliardi said more remains to be done.
“The governor can take some credit for starting the state down the long road to a sensible regulatory environment,” Gagliardi said in a statement. “However, there is still a lot of work to be done, but business owners didn’t hear from him about the next steps in his State-of-the-State speech. Small business welcomes the door he opened for the long overdue discussion about the albatross around the necks of rural Colorado: their tax bases. And, his desire to move our education system from degree-based training to skills-based training is worthy of real consideration since there are already jobs for those who know how to weld or operate a milling machine, but finding qualified applicants is a big problem.”