NFIB Weekly News
Leading the News
Tips for a Successful Small Business Saturday (11/13/2023)
Black Friday might not have the impact it once did as chain stores and online retailers launch their holiday sales earlier in the season, but Small Business Saturday is gaining momentum.
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Small Businesses File Brief Against California’s Unconstitutional Shutdowns (11/08/2023)
FRESNO, Calif. (Nov. 8, 2023) – NFIB filed an amicus brief in the case Ghost Golf Inc. et al. v. Gavin Newsom at the California Court of Appeal, Fifth Appellate District. The case concerns Governor Newsom’s Blueprint for a Safer Economy, the government shutdown of businesses ordered during the COVID-19 pandemic, and the separation of powers.
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November Is Here. Are You Ready for Small Business Saturday? (10/31/2023)
The holiday season is fast approaching and will be kicked off on Saturday, November 25, with what’s become known as Small Business Saturday. A day for celebrating the locally-owned shops and restaurants that keep our communities thriving, Small Business Saturday has taken on a life of its own, with shoppers spending nearly $18 billion last year.
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NFIB Urges Supreme Court to Uphold Constitution’s Structural Limitations (10/18/2023)
WASHINGTON, D.C. (Oct. 18, 2023) – NFIB filed an amicus brief today in the case Securities and Exchange Commission v. George R. Jarkesy, Jr. and Patriot28, L.L.C. at the United States Supreme Court. The case considers whether the Securities and Exchange Commission’s (SEC) in-house enforcement proceedings are unconstitutional.
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Small Business Optimism Dips in September as Inflation Remains Top Problem (10/10/2023)
WASHINGTON, D.C. (Oct. 10, 2023) – The NFIB Small Business Optimism Index decreased half of a point in September to 90.8. September’s reading marks the 21st consecutive month below the 49-year average of 98. Twenty-three percent of owners reported that inflation was their single most important problem in operating their business, unchanged from last month and tied with labor quality as the top concern.
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NFIB Statement on IRS Plan to Delay Processing of ERTC Applications (09/18/2023)
WASHINGTON, D.C. (Sept. 18, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released the following statement in response to the Internal Revenue Service’s announcement that they will slow processing of existing claims and will not process new claims from small businesses for the Employee Retention Tax Credit until 2024.
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Business Climate
Round Rock Small Business to Congress: Pass the Main Street Certainty Act (11/02/2023)
Inflation is just one of many challenges small business owners are facing as a result of the pandemic. Many employers took on lines of credit to keep their employees on payroll. The 20% Small Business Deduction is scheduled to expire in 2025, imposing a massive tax hike on our local job creators when they can least afford it.
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Small Businesses Support Legislation to Reduce Burdensome Red Tape (11/01/2023)
WASHINGTON, D.C. (Nov. 1, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, supports the introduction of the Employer Reporting Improvement Act and the Paperwork Burden Reduction Act in the U.S. Senate. NFIB released the following statement from Josselin Castillo, NFIB Manager of Federal Government Relations.
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NFIB Jobs Report: Unfilled Job Openings Increased in September (10/05/2023)
WASHINGTON, D.C. (Oct. 5, 2023) – The labor shortage continues to hinder Main Street as 43% (seasonally adjusted) of all small business owners reported job openings they could not fill in the current period, up three points from August.
“Small business owners have spent the first three quarters of 2023 working to recruit and retain qualified employees for their businesses, but it still remains a top challenge,” said Bill Dunkelberg, NFIB Chief Economist. “Owners continue to raise compensation to attract the right employees.”
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Prices Rising Slightly on Main Street as Inflation Remains a Top Business Problem (09/12/2023)
WASHINGTON, D.C. (Sept. 12, 2023) – NFIB’s Small Business Optimism Index decreased 0.6 of a point in August to 91.3, the 20th consecutive month below the 49-year average of 98. Twenty-three percent of small business owners reported that inflation was their single most important business problem, up two points from last month. The net percent of owners raising average selling prices increased two points to a net 27% (seasonally adjusted), still at an inflationary level.
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Small Business Statement on Revised EPA WOTUS Rule (08/29/2023)
WASHINGTON, D.C. (Aug. 29, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released the following statement in response to the Environmental Protection Agency’s (EPA) and Department of the Army’s revised rule on Waters of the United States (WOTUS):
“Earlier this year, the U.S. Supreme Court ruled in favor of small businesses and clarified the WOTUS standard for small employers and landowners,” said Beth Milito, Executive Director of NFIB’s Small Business Legal Center. “The revised rule further complicates the standard and definition of WOTUS, which disproportionately impacts small businesses. We are disappointed by today’s revised rule and the agencies’ decision to block public input. We urge the administration to follow the guidance of the Supreme Court.”
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Small Business Owners Continue to Manage Challenging Economic Environment in July (08/08/2023)
WASHINGTON, D.C. (Aug. 8, 2023) – The NFIB Small Business Optimism Index increased 0.9 of a point in July to 91.9, marking the 19th consecutive month below the 49-year average of 98. Twenty-one percent of owners reported that inflation was their single most important problem in operating their business, down three points from June.
“With small business owners’ views about future sales growth and business conditions dismal, owners want to hire and make money now from solid consumer spending,” said NFIB Chief Economist Bill Dunkelberg. “Inflation has eased slightly on Main Street, but difficulty hiring remains a top business concern.”
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Wages and Benefits
NFIB Jobs Report: Tight Labor Market Continues to Hinder Main Street (11/02/2023)
WASHINGTON, D.C. (Nov. 2, 2023) – In October, 43% (seasonally adjusted) of all owners reported job openings they could not fill in the current period, according to NFIB’s monthly jobs report. The percent of small business owners reporting labor quality as their top small business operating problem remains elevated at 23%.
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HSA Expansion Legislation Benefits Small Businesses (09/28/2023)
WASHINGTON, D.C. (Sept. 28, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued the following statement regarding the U.S. House Ways and Means Committee legislation on expanding Health Savings Accounts (HSAs).
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NFIB Jobs Report: Small Business Owners Look to Raise Compensation in Coming Months (08/31/2023)
WASHINGTON, D.C. (Aug. 31, 2023) – According to NFIB’s monthly jobs report, 40% (seasonally adjusted) of small business owners reported job openings they could not fill in the current period, down two points from last month and the lowest level since February 2021. Seasonally adjusted, a net 36% of owners reported raising compensation in August, tying June’s reading, and marking the lowest reading since May 2021. A net 26% of owners plan to raise compensation in the next three months, up five points from July.
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NFIB Statement on DOL's Proposed Overtime Threshold Rule (08/30/2023)
WASHINGTON, D.C. (Aug. 30, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released the following statement in response to the Department of Labor’s proposed rule on the overtime threshold:
“Small businesses often struggle with the ever-changing nature of federal regulations,” said Beth Milito, Executive Director of NFIB’s Small Business Legal Center. “The overtime threshold was last increased in 2019, and now is not the time to saddle small businesses with another costly regulation when the small business economy is still recovering. We urge the DOL to consider the economic impact the new requirement would have on small businesses and avoid issuing the rule.”
NFIB Jobs Report: Main Street Job Market Remains Challenging (08/03/2023)
WASHINGTON, D.C. (Aug. 3, 2023) – Forty-two percent of small business owners (seasonally adjusted) reported job openings they could not fill in the current period, according to NFIB’s monthly jobs report. The percent of small business owners reporting labor quality as their top small business operating problem remains elevated at 23%, down one point from June. Labor costs reported as the single most important problem to owners increased two points to 10%.
“The small business economy continues to struggle with the current job market, with owners working hard to fill open positions,” said NFIB Chief Economist Bill Dunkelberg. “Hiring plans are trending down but are still historically strong in the face of a weakening economy.”
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NFIB Jobs Report: Small Businesses Increasing Compensation Eases in June (07/06/2023)
WASHINGTON, D.C. (July 6, 2023) – Seasonally adjusted, a net 36% of owners reported raising compensation in June, down five points from May and the lowest since May 2021. A net 22% of owners plan to raise compensation in the next three months, according to NFIB’s monthly jobs report.
“The labor force participation rate remains below pre-COVID levels, which is contributing to the tight labor market seen on Main Street,” said NFIB Chief Economist Bill Dunkelberg. “With labor demand remaining strong, owners will have to continue raising compensation to compete and fill their open positions, although that pressure is easing a bit.”
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