Despite all the challenges that American businesses are facing, you can’t keep stop Americans from being optimistic. At least, not according to the most recent Small Business Optimism Index.
The National Federation of Independent Business released its monthly survey of small business hiring and expansion plans and amazingly, small business confidence has climbed all the way back to where it was at the start of the year. In other words, we’re back at pre-pandemic levels.
Small business is the lifeblood of the American economy and therefore, business confidence is a critical indication of where the U.S. economy might be heading. Allowing the country to reopen has had a significant effect on businesses who, despite everything they’ve been through are predicting a strong future.
The optimism index, as it is known, jumped 3.8 points to a historically high reading of 104.0.
“As part of the country continue to open, small businesses are seeing some improvements in foot traffic and sales,” says NFIB Chief Economist Bill Dukelberg. Nonetheless, Dukelberg points out how critical it is to reopen saying that, “some small businesses are struggling financially while navigating state and local regulations and are uncertain about what will happen in the future.”
According to the index, earnings trends continue showing improvement and owners anticipate better business conditions over the next 6 months. Real sales expectations increased 5 points while inventory investment plans jumped 5 points. 23% of the owners surveyed say they intend to create new jobs in the next three months.
This optimism mimics the news revealed in a recent Gallup poll in which 56% of Americans reported that they are better off now than they were three years ago.
It’s stunning considering the negativity promoted by much of the mainstream media and those on the left…and, seems to prove: if you have the right economic policies and get government out of the way? Americans are quite adept at growing, creating, and thriving on their own. The question now, if a Biden-Harris ticket were to win the White House, what would happen to our resilient economy? Scroll down to comment.