NFIB’s latest Optimism Index shows an improving small-business economy
CHEYENNE, Wyo., April 13, 2021—Better numbers in the nation’s bellwether measurement of the small-business economy released today showed seven of its 10 index components improving, and the Wyoming state director for the association that took the survey giving state officials some of the credit.
For nearly five decades the National Federation of Independent Business (NFIB) has been taking the pulse of its small-business-owning members and releasing the results through its Small Business Economic Trends report (aka the Optimism Index) monthly.
“The 2021 general session ended with little or no harm to the state’s small business community,” said Tony Gagliardi, Wyoming state director for NFIB. “With an increase in fuel taxes and possible tolling of I-80 failing once again, small businesses and the agricultural community will not be paying higher taxes at a time when they are still getting back on their feet. Also, a special thanks to Gov. Mark Gordon and the State of Wyoming Legislature for recognizing the need to protect small businesses from frivolous lawsuits resulting from the COVID-19 pandemic. Small businesses can continue to get back on their feet without the worry of a plaintiff looking for a quick settlement.”
From Bill Dunkelberg, NFIB’s chief economist on today’s SBET
“Main Street is doing better as state and local restrictions are eased, but finding qualified labor is a critical issue for small businesses nationwide. Small business owners are competing with the pandemic and increased unemployment benefits that are keeping some workers out of the labor force. However, owners remain determined to hire workers and grow their business.”
About the Small Business Economic Trends (SBET) report
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. Today’s survey was conducted in March 2021.
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.
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.
P.O. Box 1890
Cheyenne, WY 82009