WASHINGTON, D.C. (July 20, 2026) – NFIB Research Center Executive Director Holly Wade joined Katie Greifeld and Romaine Bostick on Bloomberg: The Close last week to analyze June’s Small Business Optimism Index and the conditions that small business owners are currently facing.

Wade discussed June’s SBET survey, pointing to lower oil prices as a factor in increased optimism.

Watch Wade’s full interview here and below.

“[Lower oil prices] seem to be a heavy contributor to the rise in optimism. Small business owners see the next six months of business conditions more favorably. And also, sales expectations. So, they might be thinking that consumers have a bit more discretionary income or even business to business but having some more money in their pocket to spend. And so, there aren’t those constraints that they previously feared as far as dealing with gas prices and fuel prices, just energy prices in general; that’s been such a challenge for many of them. But on the flip side from our Index, while we saw expectations for sales improve, better business conditions improve, we did see some deterioration in earning trends and so while small business owners are having to absorb those higher costs, inflation is still a problem on Main Street for many of them. The disconnect between having to absorb those higher prices and pass along those costs to customers, that’s eroding a lot of small business owners’ earnings and that’s a challenge that they’re having to still deal with.” 

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“Well, we’re seeing the same dynamics in the small business sector for a lot of small business owners. They still have open positions that they’re trying to fill, and it’s still very difficult to find applicants that have those skills that they’re looking for. But for others, they’re on pause. You know, they have less money to invest in their business, whether it’s capital investments, whether it’s filling positions, hiring more people, they’re holding on to those dollars because of those inflation pressures. And also, on the compensation front. We’ve seen compensation pressures ease a bit. But still, small business owners are having to compete for talent, and if they’re offering benefits, for instance health insurance, those costs continue to go up also. And so, they’re hit by a lot of different fronts on the cost and increase in input costs for their business. And that’s a challenge for them.”