Small business optimism fell 3.3 points in March to 97.4, just below the 51-year average of 98, according to the National Federation of Independent Business’ Small Business Optimism Index report.
The Uncertainty Index decreased eight points from February’s second-highest reading to 96.
“The implementation of new policy priorities has heightened the level of uncertainty among small business owners over the past few months,” NFIB Chief Economist Bill Dunkelberg said in a statement. “Small business owners have scaled back expectations on sales growth as they better understand how these rearrangements might impact them.”
In March, 18% of small business owners reported “taxes” as their single most important problem, up two points from February—the highest percentage since November 2021.
Sixteen percent of owners reported “inflation” as their single most important problem in operating their business, which remains unchanged from February.
Read the full report here.
