Prosperity

Small Business Optimism

Published: 
January 27, 2025
Posted by
Jordan Moore

Seasonally, the National Federation of Independent Business (NFIB) calculates an Optimism Index that is composed of ten components and is based on the answers provided by approximately 620 members. Questions include: plans to increase employment and inventory, expectations for the economy, job openings, & more. (Source)

Optimism among small businesses has risen to its highest level since 2021, according to the National Federation of Independent Business (NFIB). This positive shift is attributed to recent election outcomes, which have sparked hope for tax and regulatory policy changes that could support economic growth.

Key findings from the survey include:

  • An increase in the number of business owners who believe it is a good time to expand their operations.
  • A rise in the number of owners planning capital investments within the next six months.
  • More owners expecting higher real sales volumes in the future.

This renewed optimism follows nearly three years of uncertainty, dating back to June 2021. The survey tracks ten components of small business sentiment, nine of which showed improvement, while one remained unchanged. Notably, the previous survey, conducted just one month earlier, revealed a significant twelve-point decline in the index.

For additional details, visit the full report here.

About Partnership Grand Strand
Partnership Grand Strand is a 501c3 foundation launched in 2022 by the Myrtle Beach Area Chamber of Commerce to fund a five-year economic and community development initiative. Through investments from local businesses and partnerships with community organizations, the foundation leads and supports efforts related to four pillars of success: prosperity, talent, place and infrastructure. Through their focused endeavors, Partnership Grand Strand works to accelerate economic prosperity and enhance quality of life across Horry and Georgetown counties. 
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