NFIB Small Business Optimism Index

Economy

Small business optimism falls as oil prices fuel uncertainty

Rising oil prices, weakening profit trends and stubborn uncertainty added pressure as owners pulled back on hiring, investment and expectations.

April 15, 2026

Small business optimism dipped in February as owners navigated rising costs and competition, though sales and profit trends reached multiyear highs.

March 11, 2026

Small business optimism dipped in September, influenced by rising inflation, labor challenges, and slower sales expectations.

October 15, 2025

The net percent of owners expecting the economy to improve fell five points from December.

February 12, 2025

Labor costs as the single most important problem for business owners rose to 11 percent.

December 6, 2024

The 2.5-point decline in the national Optimism Index erased all of July’s gain.

September 11, 2024

A net 18 percent of small business owners plan to raise compensation in the next three months.

August 2, 2024

The NFIB Small Business Optimism Index decreased by 0.9 of a point in March to 88.5.

April 10, 2024

Twenty-three percent of small business owners reported that inflation was their single most important problem.

January 10, 2024

Owners expecting better business conditions over the next six months increased one point from October.

December 13, 2023