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NFIB Weekly News

NFIB Weekly News Leading the News

Optimism Index Reaches Second-Highest Level In SBET History. (08/14/2018)

NFIB’s Small Business Optimism Index marked the second highest level in 45-year history of the Small Business Economic Trends (8/14) survey in July. The SBET hit 107.9, rising to within 0.1 point of the July 1983 record high of 108. The July 2018 report also set new records for reports of job creation plans and job openings. NFIB President and CEO Juanita Duggan was quoted saying, “Small business owners are leading this economy and expressing optimism rivaling the highest levels in history. ... Expansion continues to be a priority for small businesses who show no signs of slowing as they anticipate more sales and better business conditions.” NFIB Chief Economist Bill Dunkelberg was quoted saying, “Despite challenges in finding qualified workers to fill a record number of job openings, they’re taking advantage of this economy and pursuing growth.”

Business Climate

Gallup: Small Business Owners’ Optimism At Record Level. (08/14/2018)

The Washington Times (8/8, Harper) reported that “US small-business owners are more optimistic now than at any point in the 15-year history of the Wells Fargo/Gallup Small Business Index.” The index score “stands at 118 – besting the record-high of 114 in 2006.” According to the survey, “78 percent of the owners now rate their current financial situation as ‘good,’” and “another 77 percent expect their cash flow to be good in the next 12 months.”

Small Business Marketing

Article Lists Three Ways To Increase Sales On Amazon. (08/14/2018)

Business 2 Community (8/8, Kelly) reported, “We spoke with three Amazon experts to discover what they feel are creative ways to succeed in the marketplace, even if it means thinking outside the box.” The experts said sellers should add an “Available on Amazon” button, continuously optimize product pages, and balance consistency with creativity. The article said these are “what made the top sellers stand out in a marketplace jungle filled with thousands of competing products.”

Wages and Benefits

Treasury Department Proposes New Tax Rules For Pass-Through Businesses (08/14/2018)

Reuters (8/8, Morgan) reports that on Wednesday, the Treasury Department “proposed tax regulations for a new 20 percent income tax deduction for owners of businesses organized as pass-through entities, including rules to prevent the measure from becoming a tax loophole for wealthy Americans.” The newly-proposed rules “are intended to provide everything pass-through owners need to comply with the Republican Tax Cuts and Jobs Act, a sweeping overhaul of the US tax code that President Donald Trump signed into law in December.” “Pass-through” businesses are defined as small businesses without shareholders that “pass profits through to their owners as personal income.” Treasury Secretary Steven Mnuchin is quoted on the proposed rules, saying, “The pass-through deduction is an important tax cut for small- and mid-size businesses, reducing their effective tax rates to their lowest levels since the 1930s. This 20-percent deduction will lead to more investment in US companies and higher wages for hardworking Americans.” According to Reuters, “Trump’s tax overhaul provided permanent tax relief to corporations, which saw their tax rate slashed from 35 percent to 21 percent and an end to US taxes on much of their foreign profits.” However, “Pass-through owners got only temporary relief under the law’s individual tax provisions, which are due to expire after 2025.”

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