“The Small Business Optimism Index increased in May to the second highest level in the NFIB survey’s 45-year history,” said the National Federation of Independent Businesses (NFIB) to the Daily Business News in a release. “The index rose to 107.8, a three-point gain, with small businesses reporting high numbers in several key areas including compensation, profits, and sales trends.”
Hundreds of manufactured housing firms are represented by the NFIB, as a source with the Washington, D.C. based organization told MHProNews in 2017. All told, some 325,000 small businesses of all kinds are NFIB members.
“Main Street optimism is on a stratospheric trajectory thanks to recent tax cuts and regulatory changes. For years, owners have continuously signaled that when taxes and regulations ease, earnings and employee compensation increase,” said NFIB President and CEO Juanita Duggan.
The NFIB is celebrating 75 years serving as “the voice of small business.”
Their May 2018 report hit several records:
- Compensation increases hit a 45-year high at a record net 35 percent.
- Positive earnings trends reached a survey high at a net three percent.
- Positive sales trends are at the highest level since 1995.
- Expansion plans are the most robust in survey history.
“Small business owners are continuing an 18-month streak of unprecedented optimism which is leading to more hiring and raising wages,” said NFIB Chief Economist Bill Dunkelberg.
“While they continue to face challenges in hiring qualified workers, they now have more resources to commit to attracting candidates.”
“Access to credit continues as a non-issue with 37 percent of owners reporting all credit needs were satisfied and 43 percent saying they were not interested in a loan, down seven points from last month and the lowest reading since 2007,” said NFIB. “Only one percent reported that financing was their top business problem. Owners planning to build inventories rose three points to a net four percent, the nineteenth positive reading in the past 20 months.”
NFIB was an important part of the coalition that supported the Tax Cuts and Jobs Act. ## (News, analysis, and commentary.)
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