1/2/18 – Business is Back
Small business is making a dramatic comeback.
Here’s what’s happening behind the headlines.
The National Federation of Independent Business has the numbers. The NFIB is the trade association representing America’s small businesses.
Job creation plans are the highest in the 44-years the NFIB has been collecting the data. Business optimism is at the highest level since the Reagan administration. NFIB CEO Juanita Duggan said this is “a powerful signal that small business is roaring back to life.”
The trade group’s November report contrasts robust business growth in recent months with 8 years of “weak recovery under President Obama.” The NFIB forecasts a hiring binge that will also include worker pay increases. This is great news for families and the economy.
The NFIB credits the growth to reducing regulatory red tape, cutting back on onerous ObamaCare regulations and adopting a more business- and family-friend tax policy.
t appears it’s the promise of policy initiatives that are fueling the optimism. So far, there have been more promises than actual policy implementations.
Related to this is GDP growth. If 2017 ends at 3% or better it will be the first year since the Bush Administration the GDP growth rate wasn’t stuck in the ones or twos.