Evergreen Reporter

The National Federation of Independent Business (NFIB) has released its latest Small Business Optimism Index, showing a decline of 2.1 points in February to 100.7. This marks the fourth consecutive month above the Index’s 51-year average of 98 but is still 4.4 points below its recent peak of 105.1 in December.

Patrick Connor, Washington State Director for NFIB, expressed concern over the economic uncertainty facing small business owners and urged the Washington Legislature to take action. "Congress has the biggest part to play in alleviating small business uncertainty over the economy by not letting the 20% Small Business Deduction expire at the end of the year," said Connor. He also criticized state legislation that he believes exacerbates this uncertainty.

The Uncertainty Index increased by four points to 104, marking it as one of the highest recorded readings. Bill Dunkelberg, NFIB Chief Economist, commented on this trend: “Uncertainty is high and rising on Main Street and for many reasons."

Key findings from the report include a ten-point drop in owners expecting economic improvement, with only twelve percent considering it a good time to expand their businesses—a significant decrease since April 2020. Inflation remains a major issue but is now slightly less pressing than labor quality concerns.

NFIB's monthly index serves as an important indicator for various stakeholders including federal and state legislators, providing insights into America's small business economy.

For more information on Washington state small-business news or NFIB activities, visit their website or follow them on social media platforms.