NFIB Weekly News

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NFIB Weekly News Leading the News

Small Business Optimism Starts Off Strong For 2020 (02/11/2020)

NFIB’s Small Business Optimism Index (2/10) began 2020 with a 104.3 reading, within the top 10 percent in the survey’s 46-year history. The survey saw a slight decrease in the number of small business owners expecting better business conditions, but saw significant improvements in sales expectations and earnings. NFIB Chief Economist William Dunkelberg was quoted saying, “2020 is off to an explosive start for the small business economy, with owners expecting increased sales, earnings, and higher wages for employees. ... Small businesses continue to build on the solid foundation of supportive federal tax policies and a deregulatory environment that allows owners to put an increased focus on operating and growing their businesses.”


Business Climate

Trump Budget Would Reduce Border Wall Request, Would Not Eliminate Deficit Within Decade (02/11/2020)

The Washington Post (2/10, Stein, Werner) reports, “The White House is preparing to propose a budget that would fail to eliminate the federal deficit over the next 10 years, according to an internal summary of the plan” obtained by the Post. White House officials instead “plan to say that their budget proposal would close the deficit by 2035. The White House last year claimed their budget plan would eliminate the deficit by 2034.” The budget proposal expected to be released Monday “calls for about $2 trillion in cuts to ‘non-defense discretionary programs,’ a category of government spending that does not include Social Security or Medicare.” The Wall Street Journal (2/9, A1, Davidson, Restuccia, Subscription Publication) reports the budget deficit would be $966 billion next year under the plan, down from 2020’s $1 trillion but more than twice the President’s projection in 2017.


Small Business Marketing

FedEx Annual Small Business Grant Competition Underway (02/11/2020)

Afrotech (2/5) reported, “Attention small business owners, FedEx’s annual grant competition is underway and $50,000 is on the line.” Since 2013, “FedEx has been awarding entrepreneurs with hundreds of thousands of dollars in grants to kickstart their businesses.”


Wages and Benefits

Study Finds Pay Increases For Low-Income Workers Mostly Due To Minimum Wage Increases (02/11/2020)

USA Today (2/9, Davidson) reported a study by the National Employment Law Project (NELP) found that as President Trump said in his State of the Union address, that pay is “rising fastest for low-income workers,” but, according to the study, “a large portion of those gains can be traced to minimum wage increases in more than half the states.” The study found that “in the 26 states that lifted their base wages at least once from 2013 to 2018 – real or inflation-adjusted – median hourly pay rose 3.8% from the end of the recession in 2009 through 2018,” while “in the 24 states without a minimum wage hike, real median pay fell half a percentage point.” The study also found “that trend appeared to continue in Trump’s administration.”