Improvements in eight of 10 SBET index components welcoming news
SALEM, Ore., June 9, 2020—From Anthony Smith, Oregon 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 great to see the Optimism Index moving in the right direction again. Small businesses are ready to get back to work – and we need them to urgently. As more businesses are allowed to reopen, workers will be able to earn their regular paychecks again rather than having to wait for hours on hold with the Employment Department, hoping to hear some good news about their unemployment benefits.
“When the Oregon Legislature meets for a special session to address statutory changes in response to the coronavirus crisis, lawmakers should provide additional temporary relief from increased taxes and labor costs, emphasize the importance of getting Oregonians back to work, and promote policies that lead to long-term economic growth. That way, small business optimism, and the entire recovery effort in Oregon, will continue to improve.”
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 Oregon small-business news at www.nfib.com/oregon.
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 our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.
National Federation of Independent Business/Oregon
3340 Commercial St. S.E. Suite 210
Salem, OR 97302