The most recent National Federation of Independent Business (NFIB) survey hit an all time high since 2007 as small business owners exceeded expectations “as companies planned the most capital spending.”
According to Bloomberg, small “businesses are increasingly optimistic as the economic expansion enters its 10th year and the Trump administration prioritizes industry deregulation and tax cuts. Companies have been boosting inventories to match robust consumer demand for goods and services.”
Some key points from the NFIB survey includes:
- Of companies trying to fill a position in the month, 89 percent reported finding few or no qualified applicants.
- A record 25% of owners cited “quality of labor” as the single most important problem facing their company
- Six of 10 index components increased from the prior month