May 14, 2024
The April Small Business Economic Trends survey shows a slight increase in the Optimism Index despite cost pressures.
Inflation Continues to be a Top Concern for Small Business Owners
Key findings of the report include:
As reported in the April jobs report, owners’ plans to fill open positions reversed the trend with a seasonally adjusted net 12% planning to create new jobs in the next three months, up one point from March’s lowest level since May 2020.
The full Small Business Economic Trends report and the NFIB Jobs Report are available for further analysis.
- Small business owners expecting better business conditions over the next six months improved six points from November to a net negative 36% (seasonally adjusted), and 25 percentage points better than last June’s reading of a net negative 61%.
- Seasonally adjusted, a net 29% of owners plan to raise compensation in the next three months, down one point from November.
- The net percent of owners raising average selling prices was unchanged from November at a net 25% (seasonally adjusted).
- The net percent of owners who expect real sales to be higher improved four points from November to a net negative 4% (seasonally adjusted), the highest reading since January 2022.
Get to know NFIB
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
Related Articles

October 20, 2025
Small Business Hiring Challenges and Labor Market Update
Hear about the state of the small business job market and what it means for…
Read More

October 20, 2025
Labor Issues, Unemployment Insurance Impacts Small Business
Small businesses support the SHIELD Act to stop striking workers from recei…
Read More

October 20, 2025
Congress Must Repeal Beneficial Ownership Reporting
While American small businesses are temporarily exempt from Beneficial Owne…
Read More

October 20, 2025
Small Business Optimism Declines in September
Small business optimism drops in September readings, with inflation and inc…
Read More