Small business optimism reached a two-year high in October, but inflation remains a top concern.

The NFIB Small Business Optimism Index rose 2.2 points to 93.7 in October, its highest in two years, but still below the 50-year average of 98. Despite increased optimism, small businesses face challenges like low sales, job openings, and inflation. The Uncertainty Index hit a record 110, likely due to the recent election. Inflation is the top concern for small business owners, with 23% citing it as the main issue. Despite these challenges, 54% of owners reported capital outlays in the last six months, and many are hopeful for the holiday season.

November 12, 2024
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