Small Business Optimism Index Increases in March

The National Federation of Independent Business (NFIB), one of the largest small business associations in the U.S., is reporting that their NFIB Small Business Optimism Index rose 2.4 points in March to a reading of 98.2. March’s reading is the first return to the historical reading since last November. The NFIB Uncertainty index increased six points to 81, driven primarily by owners being more uncertain about whether this is good time to expand their business and make capital expenditures in the coming months. In commenting on the report, NFIB Chief Economist Bill Dunkelberg said, “Main Street is doing better as state and local restrictions are eased, but finding qualified labor is a critical issue for small businesses nationwide. Small business owners are competing with pandemic and increased unemployment benefits that keeping some workers out of the labor force. However, owners remain determined to hire workers and grow their business.”