39-month historic run comes to an end for small business
FOR IMMEDIATE RELEASE
Contact: Candace Daly, Utah State Director, [email protected]
or Tony Malandra, Senior Media Manager, [email protected]
SALT LAKE CITY, Utah, April 8, 2020—From Candace Daly, Utah state director for NFIB, on yesterday’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.
“Only with good policies will we stop not only the spread of the coronavirus but also the downward spiral of current small business economic trends. That’s why NFIB Utah is appreciative of the efforts by Gov. Gary Herbert and Lt. Gov. Spencer Cox to keep Utahans safe while keeping as many business doors open as possible. Small business is looking forward to having a big part of the recovery phase of the state’s plan. Small business also commends legislators for planning to act within the month to revisit the 2021 budget with the new data and statistics that the state has been gathering.”
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.
Click here to read yesterday’s national news release and here for a one-page history of the SBET.
Keep up with the latest Utah small-business news at www.nfib.com/utah and follow us on Twitter @NFIB_UT
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.
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