July 8, 2019
By Bob Coleman
Editor, Main Street Monday
Main Street Monday — Small Business Optimism Soars Says NFIB
“Optimism among small business owners has surged back to historically high levels, thanks to strong hiring, investment, and sales,” says NFIB President and CEO Juanita D. Duggan. “The small business half of the economy is leading the way, taking advantage of lower taxes and fewer regulations, and reinvesting in their businesses, their employees, and the economy as a whole.”
Business owners reporting capital outlays increased to 64%, the highest reading since February 2018. Thirty percent plan capital outlays in the next few months. Plans to invest were most frequent in transportation (45%), manufacturing (39%), professional services (39%), and construction (31%).
- 9% reported higher sales in the past three months, unchanged from April and historically strong.
- 23% project higher sales
- 16% expect better business conditions
- 30% say now is a good time to expand
Small business owners added a net addition of 0.32 workers per firm, with 25% percent citing the difficulty of finding qualified workers as their Single Most Important Business Problem, matching the record high.