Tray Abney, the Nevada state director for the National Federation of Independent Business (NFIB), commented on the latest release of the NFIB Small Business Optimism Index. The index increased by 0.8 points in November to reach 99.0, remaining above its 52-year average.
Abney stated, “Glad to see NFIB’s latest Small Business Optimism Index end 2025 on a positive note. This is a nice cap to a consequential year for Main Street enterprises across the nation and here in Nevada. The best news was Congress’ passing and President Trump’s signing into law the permanency of the 20% Small Business Tax Deduction, which was scheduled to expire at the end of this month. Additionally helpful to 32 million small businesses nationwide was the halting of the Beneficial Ownership Information rule, one of the great paperwork requirements of all time.
“Nevada’s small business owners came out of the 2025 session of the State Legislature with some beneficial laws passed, and combined with Gov. Joe Lombardo’s quick draw of the veto stamp on bad legislation, it turned out to a fairly good year for Main Street, something the recently concluded special session did not ruin. With state lawmakers not returning until 2027, small business owners are freer to do what they do better than big businesses: employ families, neighbors, and communities and sustain local economies.”
NFIB Chief Economist Bill Dunkelberg added his perspective: “Although optimism increased, small business owners are still frustrated by the lack of qualified workers. Despite this, more firms still plan to create new jobs in the near future.”
The recent rise in optimism was mainly driven by an increase in expectations for higher real sales among small business owners. However, uncertainty also grew; specifically, more owners expressed concerns about capital expenditure plans over the next three to six months.
In November, there was a notable jump in those raising average selling prices—rising by 13 points from October—to a net 34% after seasonal adjustment. This marks both the highest reading since March 2023 and represents the largest monthly increase recorded in survey history.
When evaluating their overall business health: 11% rated it as excellent (down one point), while those reporting good conditions rose two points to 53%. Thirty percent described their situation as fair (down three points), and five percent reported poor health (up one point).
The NFIB Small Business Optimism Index is widely regarded as an important measure for understanding trends among American small businesses. It is referenced by policymakers including members of Congress and officials at various levels of government when assessing economic conditions affecting Main Street businesses.
NFIB has represented small and independent business owners nationwide for over eight decades through advocacy efforts at both federal and state levels.
