46.6 F
Fort Worth
Wednesday, December 2, 2020
Business Small-business optimism index surges by most since 1980

Small-business optimism index surges by most since 1980

Other News

Pandemic hammers small businesses vital to economic recovery

EDITOR'S NOTE — Small businesses around the world are fighting for survival amid the economic fallout from the coronavirus pandemic. Whether they make it...

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Optimism among America’s small businesses soared in December by the most since 1980 as expectations about the economy’s prospects improved dramatically in the aftermath of the presidential election.

The National Federation of Independent Business’s index jumped 7.4 points last month to 105.8, the highest since the end of 2004, from 98.4. While seven of the 10 components increased in December, 73 percent of the monthly advance was due to more upbeat views about the outlook for sales and the economy, the Washington-based group said.

The share of business owners who say now is a good time to expand is three times the average of the current expansion, according to the NFIB’s data. More companies also said they plan to increase investment and keep hiring, which reflects optimism surrounding President-elect Donald Trump’s plans of spurring the economy through deregulation, tax reform and infrastructure spending.

“We haven’t seen numbers like this in a long time,” Juanita Duggan, president and chief executive of the NFIB, said in a statement. “Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.”

The NFIB report was based on a survey of 619 small-business owners through Dec. 28. Small companies represent more than 99 percent of all U.S employers, according to the U.S. Small Business Administration. A small business is defined as an independent enterprise with no more than 500 employees.

Fifty percent of respondents, the biggest share since March 2002, said they expect better business conditions in the next six months. That was 38 percentage points higher than in November. The net share of firms projecting higher sales jumped by 20 points to 31 percent. Some 29 percent say they will boost capital outlays within six months.


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Grand Prairie Deputy Mayor Pro Tem Swafford dies from COVID

City of Grand Prairie Deputy Mayor Pro Tem Jim Swafford died from COVID-19 Tuesday, Dec. 1, 2020, while hospitalized at Methodist Mansfield Medical Center. He...

Incora announces group CEO as it makes Fort Worth move

David Coleal has been named Incora group chief executive officer effective Nov. 30, heading a company that was formed when Wesco Aircraft merged with ...

Gov. Greg Abbott endorses Drew Springer over Shelley Luther in Texas Senate special election runoff

Gov. Greg Abbott on Tuesday endorsed state Rep. Drew Springer, R-Muenster, in his bid to join the Texas Senate, charging into a heated intraparty...

Texas must boost coronavirus control efforts amid “full resurgence” of infections, White House report says

Texas must ramp up efforts to slow the spread of the coronavirus as the state experiences a “full resurgence” of COVID-19 infections, according to...

How the West Wins Panel Discussion set during NFR events

The National Finals Rodeo will be taking place on December 3-12 at the Globe Life Stadium in Arlington, but there are plenty of other...