Small business optimism soars in anticipation of Trump 2.0

Stay tuned Donald Trump The return to the White House sparked a wave of optimism on Main Street, according to multiple post-election polls.

Latest NFIB Small business optimism index The index jumped 8 points to 101.7 in November, as election results signaled a major shift in economic policy from the Biden-Harris administration, breaking a 34-month streak of record uncertainty with the highest reading since June 2021.

This is the first time the reading has risen above the 50-year average over the past two and a half years. Of the ten components of the optimism index, nine rose, none decreased, and one remained unchanged last month compared to October.

“In short, economic policy is important, and there is no doubt that the election results stimulated a lot of the optimism, that increase in optimism, that we saw in our monthly economic survey,” National Investment Federation President Brad Close told Bloomberg: The Close. ” this week.

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“Small business “The owners are looking forward to an administration coming in that will address the concerns that young people — half the economy in America — really care about, which is tax policy, cutting regulations and getting the economy going again,” Close added.

In the days following Election Night, Fiverr conducted its own survey of business owners, finding that nearly 90% were optimistic about the future, particularly those working in sectors that are at the center of the election cycle, such as education (92%), and finance (92%), and finance (92%). (89%), and retail (89%).

Eighty-five percent of respondents told Fiverr they believe Trump will improve the situation Economic situation For small businesses, optimism rates are highest among large organizations, at 89% among companies with more than 100 employees.

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According to the survey, both male (85%) and female (83%) business owners remain optimistic about the new management and are looking forward to business growth – with nearly 92% of female-led businesses saying they expect revenue to increase in the new year.

Much of the optimism can be attributed to the hope that Trump’s signature tax cuts from his first term will be extended into his second term, given that Republicans now control not only the White House, but both chambers of Congress, NFIB’s Close said.

“If you look at one of the biggest issues that small business owners care about, which is the small business deduction, their ability to deduct 20% of their small business income on their Business taxes“This is huge,” Close told Bloomberg.

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“This was created in 2017, so the economy took off after the tax bill passed,” he said. “This policy expires in a year. Small business owners know that, and they are very optimistic that the next administration — which has said it wants to extend this provision and make it permanent — is ready to get started on it.”