The State of Small Business Optimism and What That Means for Overall Economic Health – Tom Sullivan, U.S. Chamber

Author: ASBN Newsroom

On today’s show, we’re pleased to welcome back Tom Sullivan, Vice President of Small Business Policy at the U.S. Chamber to discuss the key findings of Q3’s small business index. Every quarter, the U.S. Chamber randomly selects 1,000 small businesses nationwide to survey them on their outlook, performance, and optimism. This quarter’s  Small Business Index reached an all-time high of 70.7, up two points last quarter. While there are many factors that contribute to this increase, Tom says that lower tax rates and less regulation are two main components that are spurring confidence.

Other key findings from this quarter’s index include:

• 56% of small businesses say their local economy is in good health, up five percentage points from last quarter
• 58% feel the U.S. economy is in good health, on par with last quarter (59%)
• Two-thirds (66%) of small businesses continue to feel good about business health, including 41% who feel very good

In this segment, we also find out whether now a good time to start a business in the U.S., what challenges remain for veteran-owned small businesses, and how minority-owned small business are excelling in their hiring efforts.

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