SACRAMENTO, Calif., May 12, 2020—Comment from John Kabateck, NFIB California state director, about today’s release of the monthly Small Business Economic Trends report, also called the Optimism Index, from NFIB.
“Coronavirus concerns aside, our economy will never recover until small-business owners feel they can re-open without the three demons of taxes, regulations, and lawsuits doing their macabre dance around their doors. I wasn’t anticipating the latest Small Business Economic Trends report to have any good news, and, in the main, wasn’t disappointed. But it did give me a glimmer of hope to see one of the SBET’s 10 index components, Expect Economy to Improve, having increased 24 points over the previous month’s finding. Attitude is the beginning of action.”
NFIB Research Center has collected Small Business Economic Trends Data with Quarterly surveys since 1973 and monthly surveys since 1986. The sample is drawn from the membership files of the National Federation of Independent Business (NFIB). The SBET is one of the few archival data sets on small business, particularly when research questions address business operations rather than opinions. Today, it’s the largest, longest-running data set on small business economic conditions available.
“The full force of the ‘recession’ has not yet been felt as programs such as PPP encourage firms to maintain employment even as the government shutdown reduces business activity,” wrote NFIB Chief Economist William Dunkelberg for this month’s SBET. “A large percentage of the unemployed expect to be rehired as the economy opens back up, but the picture is further confused by unemployment benefits that for many exceed previous pay. Small business owners are starting to rehire laid-off employees as states lift business restrictions and small business loans are hitting bank accounts.”
Keep up with the latest on California small-business at www.nfib.com/california or by following NFIB on Twitter @NFIB_CA or on Facebook @NFIB.CA. The NFIB national page can be read at www.nfib.com where the first link at the very top ‘Coronavirus’ houses all of NFIB’s news releases, lobbying activities, helpful webinars, and other news.
For more than 75 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.
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