What it means: NFIB Research Center Executive Director Holly Wade discussed NFIB’s September Small Business Economic Trends survey results that show how inflation, financing costs, and tax pressures are increasing small business owners’ uncertainty.

Our take: “Uncertainty hit an all-time high for our 50-year survey, and a lot of that has to do with the uncertainty around the election – what that means for small business moving forward, what type of environment they’ll be operating in. And they’re facing a big tax hike, possibly at the end of 2025. So, all of that is weighing on small businesses.” – NFIB Research Center Executive Director Holly Wade 

Take Action: Urge Congress to ease small business uncertainty by making the 20% Small Business Deduction permanent.

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Data from NFIB’s September Small Business Economic Trends survey was released that shows how inflation, financing costs, and tax pressures are increasing small business owners’ uncertainty for future business conditions. NFIB Research Center Executive Director Holly Wade joined Brad Smith of Yahoo! Finance to discuss the state of the small business economy tied to the survey findings.

“We’ve fallen off from kind of the stratosphere levels that we’ve seen over the last number of years. But the labor market, as far as what small business owners are reporting in our survey, still looks fairly strong. But again, those uncertainties are going to impact how they move forward.”

The 20% Small Business Deduction is set to expire in 2025, which adds to uncertainty about higher tax rates if it expires. Inflation rates continue to be high and remain another top issue. The uncertainty that small business owners have impacts decisions moving forward.

Learn more about the survey results by watching Wade’s full interview. Amplify the small business message for Congress to make the 20% Small Business Deduction permanent and ease small business uncertainty by sending a message to your lawmakers in Washington, DC.

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