Small Business Comment Ahead of Governor’s News Conference Today

Date: March 08, 2022

Release of NFIB’s latest, monthly Optimism Index might inform the discussion

FOR IMMEDIATE RELEASE
Contact: Randi Thompson Nevada State Director, [email protected]
or Tony Malandra, Senior Media Manager, [email protected]

CARSON CITY, Nev., March 8, 2022—By coincidence, this morning’s release of the latest Small Business Economic Trends report (aka the Optimism Index) is happening on the same day Gov. Steve Sisolak is scheduled to make a major economic development announcement with the mayors of Las Vegas and Reno.

“We hope the findings in this month’s Optimism Index can be of some use as a roadmap to economic recovery,” said Randi Thompson, Nevada state director for the National Federation of Independent Business (NFIB), the nation’s largest and leading small-business association that produces the Optimism Index every month and releases it on the second Tuesday of the month. The findings are a national snapshot not broken down by state.

“It has been NFIB’s educational mission for 78 years to inform and remind policymakers that small businesses are not smaller versions of big businesses and that a one-size-fits-all rule, regulation or tax can do Main Street enterprises more harm than good. So, it will be interesting to see what the governor’s proposal contains for our state’s mom-and-pop businesses.”

Key Findings from Today’s SBET (Optimism Index) Include:

  • The net percent of owners raising average selling prices increased seven points to a net 68% (seasonally adjusted), a 48-year record high reading.

  • Owners expecting better business conditions over the next six months decreased two points to a net negative 35%.

  • Forty-eight percent of owners reported job openings that could not be filled, an increase of one point from January.

  • Inventory accumulation plans fell one percentage point, following a five-point decline in January, following the massive inventory build in Q4.

From NFIB Chief Economist Bill Dunkelberg

“Inflation continues to be a problem on Main Street, leading more owners to raise selling prices again in February. Supply chain disruptions and labor shortages also remain problems, leading to lower earnings and sales for many.”

Keep up with the latest Nevada small-business news at www.nfib.com/nevada or by following NFIB on Twitter @NFIB_NV.

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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 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.

NFIB Nevada
12575 Overbrook Dr.
Reno, NV 89511
775-830-8407
NFIB.com/NV
Twitter: @NFIB_NV

 

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