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October 10th - 11th, 2023
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5. Advocacy for Business Interests:
Recently, the May NFIB Small Business Optimism Index results came out.
While they were certainly not surprising, if you’re feeling concerned about your business, you’re not alone. Seeing what others are struggling with (and what they’re doing in the face of these struggles) can be helpful. This article gives you the highlights of the Index results for May.
NFIB Small Business Optimism Index May Result Highlights
To be more competitive in hiring, many small businesses are increasing what they pay.
Funding isn’t a large problem for 96% of small businesses polled.
Most businesses are still finding it difficult to hire.
Perhaps you’re viewing these results and feeling like this is stating the obvious. Workforce challenges are the main concern for most businesses, and it appears that raising salaries isn’t the panacea many assume it to be. That’s why it’s more critical than ever to become a part of your chamber and lend your voice to the issues.
What the Chamber Can Do for Your Business
The chamber can:
These are all things the chamber does behind the scenes that most people don’t think about. Whether you are a member or not, they are advocating for a pro-business climate in your area and beyond. But if you’re not a member, your specific needs aren’t being heard.
Contact your chamber today. If you are a member, let them know your challenges. Ensure your voice is heard. If you aren’t a member, consider joining. Your local chamber has a plethora of resources that can help you and your employees navigate these difficult times. There is no reason you should be alone, nor is there a reason that you should have to start at square one when there’s an organization that is already in place and ready to help with advocacy and education.
About the NFIB Small Business Optimism Index
The NFIB Small Business Optimism Index is a monthly economic indicator that measures the sentiment and confidence levels of small business owners in the United States. It is published by the National Federation of Independent Business (NFIB). The index is based on surveys conducted among NFIB members, who represent a diverse range of industries and regions across the country. The index provides insights into the current and future expectations of small business owners regarding various aspects of their businesses, including sales, hiring plans, capital expenditures, and overall economic conditions. It is considered a key indicator of the health and outlook of the small business sector, which plays a crucial role in the U.S. economy.