Small Business Optimism Boosted 11 Points in November According to NFIB

December 11, 2024

Delaney Sexton
Contributing Editor

Small Business Optimism Boosted 11 Points in November According to NFIB

For the first time in almost three years, small business optimism finally jumped above the NFIB 50-year average and reached 101.7 points. Not only that, nine out of ten measurements the NFIB uses to measure optimism also rose. NFIB Chief Economist Bill Dunkelberg says it best:

“The election results signal a major shift in economic policy, leading to a surge in optimism among small business owners. Main Street also became more certain about future business conditions following the election, breaking a nearly three-year streak of record-high uncertainty. Owners are particularly hopeful for tax and regulation policies that favor strong economic growth as well as relief from inflationary pressures. In addition, small business owners are eager to expand their operations.”

The report saw the most significant growth in the number of small businesses expecting the economy to improve. After a 41-point improvement, 36% of small businesses believe the economy is going to get better.

In November, small businesses are expecting more sales to come in as they head into the holiday season. According to the report, 14% of small businesses expect higher sales. This is an improvement of 18 points.

Here is how the other components of the Small Business Optimism Index are shaping up:

Source:
NFIB Report November 2024