ICYMI: Fox Biz – Small business optimism surges as profits hit record high
Small business optimism surges as profits hit record high
By Henry Fernandez
May 08, 2018
The small business optimism index remained at record-high levels thanks in part to President Donald Trump’s tax cuts.
The National Federation of Independent Business (NFIB), America’s leading small business association, said small business profits in April hit the highest level in the Small Business Economic Trends Survey’s 45-year history.
“The day after the election, small business optimism began to surge and it held at historic levels for 17 months,” NFIB President and CEO Juanita Duggan said during an interview on FOX Business’ “Making Money.”
The positive profit trend is driven by gains in operating productivity and stronger sales. Small business owners are seeing an upward trend in hiring or trying to hire at 57%, and new job creation continues at historically strong levels.
Duggan said there’s been a tremendous change in the landscape of what business owners are most concerned with due in part to the Trump tax bill.
“Our members in the NFIB are reporting that their biggest problem is hiring qualified workers,” she said. “Taxes are no longer that number one problem.”