FOR IMMEDIATE RELEASE Contact: Suzanne Budge, Idaho State Director, sbs@sbsidaho.com or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org

BOISE, Idaho, June 12, 2024 – Release yesterday of the National Federation of Independent Business’s (NFIB) monthly Small Business Economic Trends report showed, not so surprisingly, inflation the No. 1 concern of Main Street entrepreneurs at the moment, but a closer look revealed something very alarming: It’s Uncertainty Index is off the charts.

“The small business sector is responsible for the production of over 40% of GDP and employment, a crucial portion of the economy,” said NFIB Chief Economist Bill Dunkelberg. “But for 29 consecutive months, small business owners have expressed historically low optimism and their views about future business conditions are at the worst levels seen in 50 years. Small business owners need relief as inflation has not eased much on Main Street.”

Suzanne Budge, NFIB’s Idaho state director, said Congress needs to act swiftly and surely on two issues weighing on small business owners across the nation. “I think Congress would benefit from studying how our State Legislature treats small businesses with policies that foster security and growth, not with massive regulation and a threat to take away something that has been so beneficial to them. Idaho’s congressional delegation has been supportive of small business, but they need to engage their colleagues from other states on the importance of not letting the Small Business Deduction expire and of freeing Main Street, mom-and-pop companies from the clutches of the Corporate Transparency Act.”

In a guest editorial in The Washington Times, NFIB President Brad Close described the consequences of both issues.

NFIB’s monthly Small Business Economic Trends (SBET) report is the gold standard measurement of America’s small business economy. Used by the Federal Reserve, Congressional leaders, administration officials, and state legislatures across the nation, it’s regarded as the bellwether on the health and welfare of the Main Street enterprises that employ half of all workers, generate more net new jobs than large corporations, and gave most of us the first start in our working life. The SBET (Optimism Index) is a national snapshot of NFIB-member, small-business owners not broken down by state. The typical NFIB member employs 10 people and reports gross sales of about $500,000 a year.

Keep up with the latest Idaho small-business news at www.nfib.com/idaho, where this news release can also be found, or by following NFIB on Twitter @NFIB_ID.

For 80 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 Idaho
802 W. Bannock Ste. 301
Boise, ID 83702
208-345-6632
Web page : NFIB.com/ID
Twitter: @NFIB_ID