Main Street Monday — NFIB Says Small Business Optimism Increasing Since Election

November 18, 2024

Bob Coleman
Founder & Publisher

Main Street Monday — NFIB Says Small Business Optimism Increasing Since Election

Now that the election is over, the NFIB Small Business Optimism Report indicates that Main Street is beginning to feel less uncertain about future business conditions.

NFIB Chief Economist Bill Dunkelberg states, “Although optimism is on the rise on Main Street, small business owners are still facing unprecedented economic adversity. Low sales, unfilled job openings, and ongoing inflationary pressures continue to challenge our main streets, but owners remain hopeful as they head toward the holiday season.”

Credit Conditions:

Regarding credit conditions here are the results of the October 2024 report.

• 2% of owners report that all their borrowing needs were not satisfied
• 23% of owners report that all credit needs have been met
• 6% of owners say their last loan was harder to get than in previous attempts
• 5% of owners report paying a higher interest rate
• 25% of owners are borrowing on a regular basis
• 64% of owners are not interested in financing
• The average interest rate paid on short-term loans was 9.7%, down 0.4% from September’s survey