Last Frontier News

The NFIB Small Business Optimism Index, as publicized today, saw an eight-point increase in November, reaching 101.7. This marks the highest level recorded since June 2021. Nine out of ten components of the index showed growth, none decreased, and one remained unchanged.

According to NFIB Chief Economist Bill Dunkelberg, "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 highlights key findings, including a net 36% of business owners expecting economic improvement, marking a 41-point rise from October. This is the highest since June 2020. Additionally, the percentage of owners considering it a good time to expand their business rose eight points to net 14%, the best since June 2021. Those expecting higher real sales volumes increased by 18 points to net 14% (seasonally adjusted), the highest since February 2020.

The NFIB’s Small Business Optimism Index is acknowledged as a pivotal gauge of the small business economy in America, used by the Federal Reserve and other legislative and administrative bodies. It reflects the overall health of Main Street enterprises employing half of the American workforce and generating more job growth than large corporations. The index does not provide state-specific data but is a national overview of NFIB-member small-business owners. Typically, an NFIB member employs one to nine people and reports annual gross sales around $500,000.

For ongoing updates on Alaska's small business scene, visit www.nfib.com/alaska or follow NFIB Alaska on X: @NFIB_AK.

The NFIB has advocated for America's small and independent businesses for 80 years across Washington, D.C., and all state capitals. Established in 1943, NFIB remains dedicated exclusively to the interests of small and independent businesses. More information is available at nfib.com.