Silver State Times

Optimism among small business owners in the United States experienced a slight decline according to the latest Small Business Optimism Index from the National Federation of Independent Business (NFIB). Despite this dip, optimism remained above its 51-year average for the third consecutive month.

Tray Abney, NFIB's state director in Nevada, commented on this trend: “That it came in above its 51-year average for the third month in a row is huge. For 34 consecutive months prior, it always registered below the 51-year average. What it means is that the optimism we are seeing coming from Main Street entrepreneurs might become the permanent feature we need to finally have a robust economy extended over time and not an occasional occurrence."

Abney further noted that legislative actions could support sustained economic optimism by maintaining tax benefits and avoiding increased regulation. "Something Congress could help by not letting the 20% Small Business Deduction lapse at the end of the year and the Nevada Legislature could support by resisting any proposals to tax and regulate more," he said.

The NFIB’s monthly index serves as a key indicator of America's small business economy, used by entities such as the Federal Reserve and Congressional leaders. It provides insights into Main Street enterprises, which employ half of all workers and create more net new jobs than large corporations.

NFIB Chief Economist Bill Dunkelberg provided additional context: “Overall, small business owners remain optimistic regarding future business conditions, but uncertainty is on the rise. Hiring challenges continue to frustrate Main Street owners as they struggle to find qualified workers to fill their many open positions."

Key points from January's index include a decrease in owners expecting economic improvement and a drop in planned capital outlays. The percentage of owners reporting unfilled job openings remained unchanged from December.

For further updates on Nevada's small-business news, NFIB encourages following their website or Twitter account.

NFIB has been advocating for small businesses across America for over eight decades, focusing exclusively on independent businesses since its founding in 1943.