Slip in Small-Business Optimism Draws Colorado Comment

Date: June 08, 2021

Legislature’s job is to pass sound public policy, not partisan, anti-business wish lists

DENVER, June 8, 2021—Small-business optimism hit a bump in the road in May, according to today’s release of the National Federation of Independent Business’ Small Business Economic Trends report, also known as the Optimism Index.

“May saw a slight pause in the recovery of small business optimism after steadily increasing each month in 2021,” said a national news release issued by NFIB. “As reported in NFIB’s monthly jobs report, a record-high 48% of owners reported unfilled job openings.”

Commenting locally, Tony Gagliardi, NFIB’s Colorado state director, said, “Colorado small-business owners are doing their best to get opened and get their employees back to work. Fortunately, a bad policy such as Senate Bill 176, the so-called workers’ rights act, or, as it should more accurately be called, the Sue-Your-Boss bill, was killed in the House Judiciary Committee, yesterday. Now, if Gov. Jared Polis can find it in him to veto House Bill 1232, an attempt to turn the office of the Insurance Commissioner into the office of Colorado Insurance Czar, it would send a strong message to employers to start hiring again. The cost and availability of health insurance have been small businesses’ No. 1 problem for 30 consecutive years, and HB 1232 does nothing to alleviate that.”

From NFIB Chief Economist Bill Dunkelberg

“The labor shortage is holding back growth for small businesses across the country. If small business owners could hire more workers to take care of customers, sales would be higher and getting closer to pre-COVID levels. In addition, inflation on Main Street is rampant and small business owners are uncertain about future business conditions.”

Other key findings include:

  • Five of the 10 Index components improved, three declined, and two were unchanged.
  • The NFIB Uncertainty Index decreased one point to 79.
  • Job creation plans over the next three months rose to a net 27%, up six points.
  • Owners expecting better business conditions over the next six months fell 11 points to a net negative 26%.
  • Earnings trends over the past three months declined four points to a net negative 11%.

Contact: Tony Gagliardi, Colorado State Director, [email protected],
or Tony Malandra, Senior Media Manager, [email protected]

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

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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.

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1700 Lincoln Street, 17th Floor
Denver, CO 80203
303-860-1778
www.nfib.com/colorado
Twitter: @NFIB_CO
Facebook: NFIB.CO

 

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