The National Federation of Independent Business reports its Small Business Optimism Index slipped slightly in February. The index fell half a point to 98.8 but remains just above its 52-year average of 98.
NFIB Chief Economist Bill Dunkelberg says while optimism dipped slightly, many owners reported stronger sales and improved profits during the month. However, competition from large businesses continues to put pressure on smaller Main Street firms.
The group’s Uncertainty Index fell three points in February to 88, suggesting business owners are feeling somewhat more confident about the months ahead.
NFIB Iowa State Director Logan Shine says the drop in uncertainty is encouraging for Iowa small businesses but adds lawmakers should focus on property tax reform and reducing regulations to help local businesses remain competitive.
The report also found hiring remains challenging, with one-third of small business owners reporting job openings they cannot fill.
