New NFIB Survey Finds Small Business Optimism Improves Again
The NFIB Small Business Optimism Index rose 0.5 points in August to 100.8, nearly three points above the 52-year average of 98. Based on these findings alongside a new survey from NFIB, small business optimism is improving once again.
End of ‘de minimus’ Exemption Disrupting Small Businesses
The "de minimis" U.S. tariff exemption for package shipments under $800 just ended on August 29th, 2025. This rule aimed to avoid the administrative cost of collecting small amounts of tax and facilitated global e-commerce by enabling companies like Shein and Temu to ship directly to consumers.
Small Business Optimism on the Rise
The National Federation of Independent Business published its July report, which found that small businesses are experiencing better business conditions, leading to a rise in overall optimism.
Strong Spending in July as Consumers Responded to Sales
Retail spending bounced back in July as consumers sought out summer sales promotions to buy goods before more tariffs take effect.
Credit Card Fees Account for $3 Billion of Back-to-School Costs
The “swipe” fees that banks charge merchants to process credit card transactions will drive up the price of school and college supplies by $3 billion this year and cost the average family between $20 and $30.
Back-to-School Season Begins Early for Majority of Shoppers
A recent NRF survey found that consumers are already beginning their back-to-school shopping, with 67% having already begun purchasing items for the upcoming school year. The early start is up from 55% last year and is the highest since NRF started tracking early shopping in 2018.
Small Business Optimism Remains Steady in June
The NFIB Small Business Optimism Index found that small business optimism remained steady in June, while uncertainty fell. Taxes remain the top issue on Main Street, but many others are still concerned about labor quality and high labor costs.
One Big Beautiful Bill Act Signed Into Law
On July 4th, the One Big Beautiful Bill Act was signed into law by President Trump. Often referred to as the "Big Beautiful Bill," this budget reconciliation law represents a significant legislative package that enacts various tax and spending policies, forming a core part of the current administration's agenda.
Anxiety & Confusion From Tariffs Are Causing Uncertainty
This year began with high expectations for the strength of the U.S. economy, with a strong 2.8% year-over-year growth in gross domestic product in 2024 that was led by consumer spending. Since then, anxiety and confusion have taken center stage in the economy and financial markets as uncertainty over public policy has intensified.
Small Business Optimism Increases in May
The NFIB Small Business Optimism Index found that small business optimism increased in May. However, uncertainty is still high among small business owners.
