VIDEO: NFIB’s Holly Wade Joins CNBC’s Small Business Playbook

December 18, 2023

VIDEO: NFIB’s Holly Wade Joins CNBC’s Small Business Playbook

WASHINGTON, D.C. (Dec. 18, 2023) – Executive Director of NFIB’s Research Center Holly Wade participated in CNBC’s “Small Business Playbook” event last week in a panel titled, “Main Street Outlook: 2024”. Alongside LinkedIn Senior Economist Kory Kantenga, Wade discussed the small business economy and the challenges facing small businesses entering the new year. Read excerpts of the conversation below and watch the full interview here. “Those inflation pressures are still causing a lot of headwinds and challenges for small business owners in absorbing those increased costs. Whether it’s supplies and inventory or having to increase compensation to be competitive in attracting those applicants for open positions that are still historically very high.” “More small business owners are having capabilities online, far more than we saw pre-COVID, because of the dynamics of the consumer in how they’re purchasing goods and services. So that in itself has likely driven a lot of new businesses to be online, but even existing businesses, they’ve certainly adjusted their capabilities of operating their business over the last few years.” “It is the top priority of the NFIB to secure the permanency of the 20% Small Business Deduction that was so helpful in allowing small business owners to retain profits that they used specifically to reinvest in and grow their business. We’ve seen price pressure impact small business owners’ ability to have those dollars to reinvest in their business…and we don’t want to see [additional costs from] the federal government in the form of taxation impact small businesses any more than it already is. So, securing permanency for the 20% Small Business Deduction will go a huge way in supporting small businesses in allowing them to retain more of their profits to reinvest in their firms.”

Topics:

Economy

Research

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