Weekly News

Small Business Survey Says...

August 15,2018 19:10

On Tuesday, the NFIB released its monthly reading on small business sentiment. As we noted in our Chart of the Day (subscription required), small business sentiment hit its highest level since 1983 in July. That's quite an impressive reading! In ...

The impact tariffs are having on small businesses
Heritage Action executive director Tim Chapman says that small businesses are still optimistic despite tariffs and discusses Tuesday’s primary election results.

Small business owners’ optimism touched a 35-year high in July, with businesses setting records in terms of job creation and hiring, while they cited the availability of qualified workers as their biggest challenge. In another signal of just how good this economy is, the small business owners also noted that they were able to increase prices.

Continue Reading Below

In July 2018, the NFIB’s Small Business Optimism Index marked its second highest level in the survey’s 45-year history, at 107.9 – just shy of the July 1983 record-high of 108.
Records were set for job creation plans. A seasonally-adjusted net 23 percent of businesses are planning to create new jobs, while 37 percent of business owners said they had job openings that they could not fill in July.
“Small business owners are leading this economy and expressing optimism rivaling the highest levels in history,” said NFIB President and CEO Juanita Duggan. “Expansion continues to be a priority for small businesses who show no signs of slowing as they anticipate more sales and better business conditions.”
A net 35 percent of owners expect better business conditions, while they said the availability of qualified workers was their No. 1 problem. Owners also reported that they were increasing the compensation they offered workers.
Fifty-nine percent of firms were hiring or trying to hire, while 52 percent (88 percent of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill.


Twenty-three percent of owners said their biggest business problem was finding qualified workers.
“Despite challenges in finding qualified workers to fill a record number of job openings, they’re taking advantage of this economy and pursuing growth,” said NFIB chief economist Bill Dunkelberg.
Profits continued to perform, and more firms raised prices in July, a positive signal of demand.

business business casual business card business insider business lease business english business class business intelligence business model canvas business card mockup

Share this article

Related videos

Money isn't EVERYTHING? + Survey Says - Landscaping Small Business
Money isn't EVERYTHING? + Survey Says - Landsca...
California is least friendly to small businesses, survey says
California is least friendly to small businesse...