From John Kabateck, California state director for NFIB, which released the latest findings of its Small Business Economic Trends report today. The SBET, also called the Optimism Index, is the nation’s leading measurement of the small-business economy.
“It was encouraging to see increases in three Index components: plans to increase employment, plans to increase inventories, and expect real sales higher. So much, however, remains to be done, and it’s California’s misfortune that the things that need doing the most are things that need stopping, such as a November ballot initiative that will raise rents on small-business owners who don’t own their facilities, defeating another ballot initiative that will turn the current headache with data-privacy compliance into a migraine, and getting some halt to the Pac-Man-like gobbling up of independent contractor relationships businesses once had. And all of that is only a start.”
NFIB Research Center has collected Small Business Economic Trends Data with Quarterly surveys since 1973 and monthly surveys since 1986. The sample is drawn from the membership files of the National Federation of Independent Business (NFIB). The SBET is one of the few archival data sets on small business, particularly when research questions address business operations rather than opinions. Today, it’s the largest, longest-running data set on small business economic conditions available.
“As states begin to reopen, small businesses continue to navigate the economic landscape rocked by COVID-19 and new government policies,” said NFIB’s Chief Economist Bill Dunkelberg. “It’s still uncertain when consumers will feel comfortable returning to small businesses and begin spending again, but owners are taking the necessary precautions to reopen safely.”
Keep up with the latest on California small-business at www.nfib.com/california or by following NFIB on Twitter @NFIB_CA or on Facebook @NFIB.CA. The NFIB national page can be read at www.nfib.com where the first link at the very top ‘Coronavirus’ houses all of NFIB’s news releases, lobbying activities, helpful webinars, and other news.
For more than 77 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.
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