For small businesses around the country, confidence and optimism for the future are soaring, as indicated this past December by the National Federation of Independent Business (NFIB), America’s leading small business association.
The NFIB released an index derived from 619 small-business owners’ responses to a survey about plans, expectations, and trends for future business growth and opportunity. The index rose 7.4 points in December, representing the highest monthly gain since July of 1980.
This monumental increase indicates business owners’ overall expectations for better business conditions and their harboring of more upbeat views about the outlook for sales and the economy.
The share of business owners who say now is a good time to expand is three times the average of the current expansion, according to survey results. More companies also said they plan to increase investment and keep hiring, which reflects hopefulness surrounding the new Administration’s plans of spurring the economy.
The NFIB index and how small businesses are feeling about their economic futures are found in this chart:
Politics aside, businesses are excited about how the Donald Trump presidency will boost economy and the future of business in 2017. They are preparing for a breakout, ready to take risks and make investments. Here’s to a strong year for your business: creating jobs, supporting your favorite charity and generally putting more money in everyone’s pockets.