Small business optimism surged in November following the recent presidential election, according to the latest Small Business Intelligence Quotient (SBIQ) poll conducted by the Job Creators Network Foundation (JCNF).
The SBIQ, a monthly index measuring small business sentiment about the economy, jumped six points to 62.3 in November, reaching its highest level since July 2021. This significant increase suggests that small business owners are feeling more positive about the future economic landscape following the election results.
READ: A Tale Of Two Leaders: Biden’s Quiet Exit Vs. Trump’s Bold Blueprint
“The outcome of the November election is making small businesses more optimistic about the future,” said Elaine Parker, President of the Job Creators Network Foundation. “Small businesses are confident that the incoming administration will advance meaningful policy reforms that boost the economy.”
Key findings from the November SBIQ poll include:
- Increased Optimism: 61% of small business owners expressed optimism about the incoming administration, with many anticipating positive policy changes.
- Top Priorities: Small businesses identified securing the border, balancing the budget, and making the Tax Cuts & Jobs Act permanent as the top priorities for the new government.
- Economic Concerns: Concerns remain about the potential expiration of the Tax Cuts & Jobs Act, with many businesses indicating they may delay expansion plans or cut employee hours if the tax cuts are reversed.
- Crime Concerns: A majority of small businesses reported increased crime in their area, highlighting the need for enhanced public safety measures.
- Regulatory Burden: Small businesses continue to be burdened by local, state, and federal regulations, with a majority finding the amount of time spent dealing with regulations to be “time-consuming.”
READ: Liberal Legal Experts Push To Block Trump From Taking Office, Citing 14th Amendment
The November SBIQ poll provides valuable insights into the current state of the small business community and their outlook for the future.
It underscores the importance of implementing policies that support small business growth and address their concerns, particularly in the areas of tax reform, regulatory relief, and crime reduction.
Please make a small donation to the Tampa Free Press to help sustain independent journalism. Your contribution enables us to continue delivering high-quality, local, and national news coverage.
Connect with us: Follow the Tampa Free Press on Facebook and Twitter for breaking news and updates.
Sign up: Subscribe to our free newsletter for a curated selection of top stories delivered straight to your inbox.