When it comes to small business confidence, the Trump administration has seen a surge in sentiment towards a growing economy. While President Trump himself is constantly battling for positive media, small business owners are generally positive towards the direction the country is heading. According to a recent National Federation of Independent Business survey, “six of the 10 components that make up the small-business optimism index increased in January, producing one of the strongest readings in the 45-year history of the survey.”
According to the Washington Post, the new tax law “produced the most recent boost to small-business optimism,” NFIB’s William Dunkelberg and Holly Wade said in a report. “And federal government-related cost pressures continue to abate, offering a more supportive business climate for small firms. Consumer spending remains supportive, and business spending and housing remain strong.”
With such confidence, many small businesses are looking to boost capital spending over the coming year which includes investment in equipment and employment. The economy is doing so well that the only issue owners have is finding qualified employees to meet requirements. Now that, according to some experts, the “Obama economy” Trump inherited has essentially ended it will be interesting to see how Trump will grow it in the future. Only time will tell but so far, so good.