Comment on Today’s Dismal Small Business Optimism Findings

Date: February 09, 2021

Wyoming’s liability protection from unfair COVID lawsuits a big help in reversing the tide

FOR IMMEDIATE RELEASE
Contact: Tony Gagliardi, Wyoming State Director, [email protected]
or Tony Malandra, Senior Media Manager, [email protected]

CHEYENNE, Wyo., Feb. 9, 2021—There was not much optimism to be found in today’s release of the latest Small Business Optimism Index from NFIB, but the Wyoming state director for the association that conducts the monthly poll says businesses can take some comfort in initiatives recently taken by the state’s Legislature and governor.

“From a national standpoint, this report was not the news we were hoping for,” said NFIB’s Wyoming State Director Tony Gagliardi. “Businesses are trying desperately to reopen and survive this pandemic. Wyoming small businesses, however, can take some comfort in having a proactive Legislature and governor that have acted swiftly by passing liability protection from unfair COVID lawsuits.”

The Optimism Index declined in January to 95.0, down 0.9 from December and three points below the 47-year average of 98. Owners expecting better business conditions over the next six months declined seven points to a net negative 23%, the lowest level since November 2013. The net percent of owners expecting better business conditions has fallen 55 points over the past four months.

From NFIB chief economist Bill Dunkelberg

“As Congress debates another stimulus package, small employers welcome any additional relief that will provide a powerful fiscal boost as their expectations for the future are uncertain. The COVID-19 pandemic continues to dictate how small businesses operate and owners are worried about future business conditions and sales.”

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 a random sample of NFIB’s membership. The report is released on the second Tuesday of each month. This survey was conducted in December 2020. For more information about NFIB, please visit NFIB.com.

The SBET’s primary value is anticipating short-run fluctuations in economic activity. An additional value of the SBET is its measurement of small business activities and concerns over time. The benefit of a longitudinal data set offers an invaluable perspective on how policies and business cycles impact small businesses over time. 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.

Keep up with the latest Wyoming small-business news at www.nfib.com/WY.

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For more than 77 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.

NFIB Wyoming
P.O. Box 1890
Cheyenne, WY 82009
866-639-1846
NFIB.com/WY
Twitter: @NFIB_WY

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