President Donald Trump had faced several issues ever since he took the highest seat in the White House. However, his business-friendly attitude and plans appear to be inspiring small businesses to keep being optimistic about the state of the economy.
According to recent results of the NFIB Small Business Optimism Index, small business optimism continues to be strong although it showed a slight decrease in February to 105.3. Industry observers noted that the decrease appears insignificant, implying that small business continues to be hopeful about the future under the Trump administration.
Reported job creation grew as more than 50% of businesses are working on expanding their workforce, according to a report on The Banking Journal. Stronger job creation is one of the campaign promises that Trump gave to the Americans, with some experts saying that it might have been one of the factors that help him defeat Democrat candidate Hillary Clinton.
NFIB President and CEO Juanita Duggan attributed the February reading, which is one of the highest readings in 43 years, to the fact that small businesses are looking forward to the regulatory and legislative changes that Trump will implement, Fox Business reported. It remains to be seen whether small businesses will continue to put their faith on Trump.
The change in the index will depend on Trump's next move. If he can deliver his promises of less strict regulatory environment for businesses, there is a huge chance that small business optimism will not waiver. However, going against his campaign promises might make small businesses lose their trust in the administration.
For small business owners who are worried about facing bankruptcy, Jobs & Hire previously carried a report about some simple rules that might help business owners avoid such fate.