Improvements in eight of 10 SBET index components welcoming news
SALT LAKE CITY, Utah, June 9, 2020—From Candace Daly, Utah state director for NFIB, which released the latest findings of its Small Business Economic Trends report today. The SBET, also called the Optimism Index, is the nation’s leading measurement of the small-business economy.
“It’s important not to read too much into the latest Optimism Index, but I was pleased to see some positive signs toward economic recovery, such as increases in three Index components in particular: plans to increase employment, plans to increase inventories, and expect real sales higher. The SBET is a national survey, not broken down by state, but I think it fair to speculate Utah might be ahead of most states because of actions it has taken, such as providing its small-business owners with some liability relief from coronavirus lawsuits.”
NFIB Research Center has collected Small Business Economic Trends Data with Quarterly surveys since 1973 and monthly surveys since 1986. The sample is drawn from the membership files of the National Federation of Independent Business (NFIB). 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.
“As states begin to reopen, small businesses continue to navigate the economic landscape rocked by COVID-19 and new government policies,” said NFIB’s Chief Economist Bill Dunkelberg. “It’s still uncertain when consumers will feel comfortable returning to small businesses and begin spending again, but owners are taking the necessary precautions to reopen safely.”
Keep up with the latest Utah small-business news at www.nfib.com/utah
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/utah.
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