“Their views about future business conditions are at the worst levels seen in 50 years.”
FOR IMMEDIATE RELEASE
Contact: Thor Stacey, Alaska State Director, [email protected]
or Tony Malandra, Senior Media Manager, [email protected]
JUNEAU, Alaska, June 11, 2024—At first glance not much has changed in the latest monthly poll of the nation’s small business owners released today by their largest and leading association. Inflation remains the top concern, but one component, the Uncertainty Index, rose an alarming nine points to 85, the highest reading since November 2020.
“The small business sector is responsible for the production of over 40% of GDP and employment, a crucial portion of the economy,” said Bill Dunkelberg, chief economist for the National Federation of Independent Business (NFIB), which publishes the Small Business Economic Trends (SBET) report. “But for 29 consecutive months, small business owners have expressed historically low optimism and their views about future business conditions are at the worst levels seen in 50 years. Small business owners need relief as inflation has not eased much on Main Street.”
NFIB’s monthly (SBET) report is the gold standard measurement of America’s small business economy. Used by the Federal Reserve, Congressional leaders, administration officials, and state legislatures across the nation, it’s regarded as the bellwether on the health and welfare of the Main Street enterprises that employ half of all workers, generate more net new jobs than large corporations, and gave most of us the first start in our working life. The SBET (aka the Optimism Index) is a national snapshot of NFIB-member, small-business owners not broken down by state. More about the Uncertainty Index can be read here. The typical NFIB member employs 10 people and reports gross sales of about $500,000 a year.
Note to Reporters— NFIB Alaska State Director Thor Stacey is in Washington, D.C. this week to help lobby Congress on a couple of big ways it can help the nation’s small businesses.
Keep up with the latest Alaska small-business news at www.nfib.com/alaska or by following NFIB Alaska on Twitter @NFIB_AK.
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For 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.
NFIB Alaska
Box 211231
Juneau, AK 99821
907-723-1494
www.nfib.com/alaska
Twitter: @NFIB_AK
