NFIB West Virginia State Director Gil White joined WAJR’s Talk of the Town in Morgantown to discuss the latest Small Business Optimism Index and the state of the small business economy.

In January, NFIB’s Small Business Optimism Index dropped 2.3 points to 102.8 but remains above the 51-year average of 98. The Uncertainty Index rose 14 points to 100, the 3rd highest recorded reading after two months of decline.

“I can tell you that we’re experiencing those same issues in West Virginia (as we are in the rest of the U.S.),” said White. “And I hear from small business owners on a frequent basis expressing those concerns.”

Eighteen percent of owners reported that inflation was their single most important problem in operating their business, down two points from December, and matching labor quality as the top issue. The last time it was this low was in November 2021.

“We’re still faced with a very challenging job market in the state of West Virginia, and that in itself, I believe, started through COVID, and we have never really recovered,” said White. “The inflation numbers are still very concerning and cause problems when you’re a small business owner. And if your net profits are marginal and inflation certainly takes a chunk out of that.”

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