39-month historic run comes to an end for small business
DENVER, April 7, 2020—From Tony Gagliardi, Colorado state director for NFIB, on today’s release of NFIB’s monthly Small Business Economic Trends report (aka the Optimism Index), which showed the largest monthly decline in the report’s 47-year history.
“The report’s results are not surprising and are one more confirmation of how fast a virus can take a nation from the best of times to the worst of times. Up until March, small business job creation, worker compensation, and plans to expand were at highs never seen before. No longer. Right now would be a good time for Colorado policymakers to come together to develop a master plan for business survival in this state. Waiting for a curve to flatten is not a smart economic strategy. We need to act decisively now. Because recoveries everywhere start with a march down Main Street, we’re ready to contribute our ideas.”
About the Small Business Economic Trends (SBET)
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. Except for this month, the report is released on the second Tuesday of each month. This survey was conducted in February 2020.
The SBET is one of the few archival data sets on small business, particularly when research questions address business operations rather than opinions. Today, it’s the largest, longest-running data set on small business economic conditions available, used by the Federal Reserve, presidential administrations, Congress, and governors and state legislatures across the nation as the gold standard measurement on the economic health of Main Street enterprises.
Keep up with the latest Colorado small-business news at www.nfib.com/colorado or by following NFIB on Twitter @NFIB_CO or on Facebook @NFIB.CO
NFIB is the voice of small business, 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 www.nfib.com/Colorado.
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