What did Trump say about ‘so much winning’ again? Maybe he was really on to something.
“So much winning.” Yes.. it looks like Small Business got that message.
The November Index of Small Business Optimism from the National Federation of Independent Business shows small businesses have gained confidence with the expectation of better conditions under the new Trump administration.
“What a difference a day makes,” said Juanita Duggan, President and CEO of NFIB. “Before Election Day small business owners’ optimism was flat, and after Election Day it soared.”
NFIB Chief Economist Bill Dunkelberg said, “The November index was basically unchanged from October’s reading up to the point of the election and then rose dramatically after the results of the election were known.”
For the full month of November the index surged 3.5 points to 98.4. NFIB marked this as only the third time since 2007 that the index rose above the 42-year average.
Small business owners’ plans to hire jumped 14 percentage points from pre-election to post-election, according to the index. Sales expectations also jumped from net four percent to net 20.
The major boost came in the expectation of better business conditions, which increased a massive 44 percent. Pre-election the expectation was negative six, but post-election expectation was up to 38 percent. —Breitbart
Where did the optimism come from? A unified Republican government.
“Small businesses like unified Republican government,” said Neil Dutta, head of U.S. economics at Renaissance Macro Research LLC, who highlighted that the NFIB’s index fell in November 2012 — when Obama won re-election — but recorded a solid rise in November 2004 after voters granted George W. Bush a second term.
On a relative basis, Trump’s plan to cut corporate taxes offers the most benefit to firms that earn more revenues domestically — a category most small businesses fall into. The possibility that Linda McMahon, who Trump nominated to lead the Small Business Administration, might roll back regulation and help fulfill the real-estate mogul’s pledge to repeal Obamacare also contributed to higher optimism among small business owners, said Dunkelberg. —Bloomberg
Trump arriving… Obama leaving… BOTH are really good news for business in America.