Franchise News
CNN: Small Business Optimism Gains the Most Since 1980
A Trump win led to an increase in optimism amongst small businesses.
According to the National Federation of Independent Business, the small business optimism index hit a 12-year high in December, rising from 98.4 in November to 105.8. A one month gain hasn’t been this big since 1980. The NFIB says this increase is directly correlated to the surprising win from President-elect Trump this past November.
Because Trump promises to cut taxes, invest in infrastructure, increase jobs and repeal Obamacare, business owners are expecting higher wages and more capital spending in the next six months. Even so, some experts are cautioning small business owners to heed their expectations, saying that economic growth may not increase as much as many are hoping for.
Jim O'Sullivan, chief U.S. economist at High Frequency Economics, a research firm, says the small business index is slanted, given that most respondents to NFIB’s survey are usually Republican. "I do think that hopes have been probably raised too much here and there will probably be a little bit of disappointment," he said.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
