The National Federation of Independent Business (NFIB) Small Business Optimism Index average for 2017 posted an all-time record high.
That’s the headline from the NFIB survey results released today.
“2017 was the most remarkable year in the 45-year history of the NFIB Optimism Index,” said NFIB President and CEO Juanita Duggan. “With a massive tax cut this year, accompanied by significant regulatory relief, we expect very strong growth, millions more jobs, and higher pay for Americans.”
“We’ve been doing this research for nearly half a century, longer than anyone else, and I’ve never seen anything like 2017,” added NFIB Chief Economist Bill Dunkelberg.
According to the group, the record-high optimism was driven by expectations of better economic policies coming out of Washington, including decreased regulations and tax cuts – both of which have been realized during the first year of the Trump administration.
“The lesson of 2017 is that better policies make for better economic results,” said Duggan. “The evidence is overwhelming that small business owners pay close attention to Washington, and that federal policies affect their decisions on whether to hire, whether to invest, whether to grow inventory, and whether to seek capital.”
You can find the full December report here.