It seems that President Donald Trump’s tax reform and regulatory rollback are helping small business owners feel more optimistic about the future than ever before, at least according to the National Federation of Independent Business (NFIB)’s latest survey.
According to last month’s results, the NFIB Small Business Optimism Index reached 108.8, the highest it has ever been since the organization started recording it in 45 years.
The last time small business owners felt close to this optimistic was in 1983, when the optimism index was at 108 and the Ronald Reagan presidency was on its second year.
Last month, respondents told the NFIB this was a great time to expand. Still, 89 percent lamented that there are too few qualified workers and that hiring for new positions has been a difficult task. Despite the difficulties, the survey found that business owners have registered a high level of commitment to the future, noting they had plans to spend a great deal of capital.
“The small business engine continues to roar with the dramatic change in economic policies since November 2016,” survey authors William Dunkelberg and Holly Wade explained in the report.
Despite this show of support for Trump’s latest policies, there is plenty of discontent in left-leaning circles, especially after President Barack Obama came out publicly to claim that Trump’s “triumphant” performance is not why the U.S. economy is flourishing. Instead, the former president said, what boosted the economy was his policies.
In what has become his signature style, Obama had a “you didn’t build that” moment during a rally for congressional Democratic candidates during the weekend, accusing the current administration of ignoring his accomplishments.
“When you hear how great the economy’s doing right now, let’s just remember when this recovery started,” Obama said Friday.
Despite Obama’s lack of trust in Trump, it appears that small business owners feel slightly differently. And as the former president should know, it isn’t the government that creates economic growth but businessmen and women with skin in the game.