Nov 19, 2023

NFIB: Optimism fairly low in 50th anniversary survey

Posted Nov 19, 2023 10:30 AM

Hutch Post

HUTCHINSON, Kan. — NFIB is celebrating 50 years of the Small Business Economic Trends survey, but small business owners are not feeling optimistic in the current economic environment.

"October remained similar to the September numbers," said Dan Murray with NFIB Kansas. "The optimism index decreased to 90.7. That optimism index is a composite of various factors that small business owners are asked about and consider. That marks the 22nd month below the 50 year average."

The last time the index was at or above the average was December of 2021.

"We're hopeful that we'll turn the corner on this inflation problem," Murray said. "We don't see that happening anytime soon, as in the next handful of months, but I know that small business owners will keep their nose to the grindstone and will continue to do what they can to keep their businesses open and running successfully."

The inability to find good help is also going to have an impact on the Christmas season on Main Street.

"As we approach the busy shopping season heading into Christmas, this is the most important time for many of our small retailers," Murray said. "They are going to do more. They are going to put more on their backs and it's going to be some long, difficult hours. Certainly, getting out and supporting those small business owners is something that we can do to keep those businesses alive and thriving in our communities throughout Kansas."

The NFIB Research Center has collected Small Business Economic Trends data with quarterly surveys since the fourth quarter of 1973. 

CLICK HERE to download the Hutch Post mobile app.
CLICK HERE to sign up for the daily Hutch Post email news update.