{"id":47102,"date":"2024-07-12T10:47:27","date_gmt":"2024-07-12T14:47:27","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=47102"},"modified":"2024-12-17T09:39:49","modified_gmt":"2024-12-17T14:39:49","slug":"nfib-small-business-optimism-index-june-2024","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/nfib-small-business-optimism-index-june-2024","title":{"rendered":"NFIB Small Business Optimism Index: Results For June, 2024"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"414\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/chart-small-uptick-NFIB-620x414.jpg\" alt=\"NFIB june index chart\" class=\"wp-image-47107\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/chart-small-uptick-NFIB-620x414.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/chart-small-uptick-NFIB-320x213.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/chart-small-uptick-NFIB-768x512.jpg 768w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/chart-small-uptick-NFIB-370x247.jpg 370w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/chart-small-uptick-NFIB-270x180.jpg 270w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/chart-small-uptick-NFIB-570x380.jpg 570w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/chart-small-uptick-NFIB-740x494.jpg 740w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/chart-small-uptick-NFIB.jpg 1000w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/figure>\n\n\n\n<p>The <strong>NFIB Small Business Optimism Index<\/strong> hit its peak for <strong>2024<\/strong> in June, reaching 91.5, a <em>slight<\/em> increase from the previous month. This marks the 30th consecutive month below the historical average of 98.<\/p>\n\n\n\n<p>That said, <a href=\"https:\/\/www.thefranchiseking.com\/franchise-llc\">small business owners<\/a> continue to remain apprehensive about the economy for the remainder of the year.<\/p>\n\n\n\n<h2>NFIB Small Business Optimism Index Report: June, 2024<\/h2>\n\n\n\n<p>Here are a few of the key findings from the June NFIB report:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Seasonally adjusted, 22% of <a href=\"https:\/\/www.thefranchiseking.com\/sba-business-resilience-guide\">small business owners<\/a> plan to increase compensation in the next three months, a rise of four percentage points from May.<\/li>\n\n\n\n<li>A net negative 2% of <a href=\"https:\/\/www.thefranchiseking.com\/3-free-franchise-businesses-veterans\">owners<\/a> reported that their current inventory levels were insufficient in June, an increase of six points from May&#8217;s record low since October 1981.<\/li>\n\n\n\n<li>A net negative 2% of owners plan to invest in inventory in the upcoming months, a rise of four points from May.<\/li>\n\n\n\n<li>Fifty-two percent of owners reported making capital expenditures in the last six months, a decrease of six points from May and the lowest reading since August 2022.<\/li>\n\n\n\n<li>Four percent of <a href=\"https:\/\/www.thefranchiseking.com\/cheba-hut-toasted-subs-review\">owners<\/a> reported that all their borrowing needs were not met, an increase of one point from May and the highest reading since August 2022.<\/li>\n<\/ul>\n\n\n\n<h2>On Small Business Jobs<\/h2>\n\n\n\n<p>According to the monthly jobs report from the NFIB, 37% of all small business owners reported unfilled job openings in the current period, down five points from May. Of those hiring or trying to hire, 85% reported few or no qualified applicants for the positions they were looking to fill.<\/p>\n\n\n\n<p>As to sales, pricing, compensation, profit and inventory levels and <a href=\"https:\/\/www.thefranchiseking.com\/small-business-predictions-2025\">expenditures<\/a>, I encourage you to <a href=\"https:\/\/www.nfib.com\/content\/press-release\/economy\/inflation-remains-top-problem-for-main-street\/\" target=\"_blank\" rel=\"noreferrer noopener\">read the rest of the report<\/a>.<\/p>\n\n\n\n<p><strong>Note<\/strong>: the NFIB Research Center has collected Small Business Economic Trends data with quarterly surveys since the fourth quarter of 1973 and monthly surveys since 1986.<\/p>\n\n\n\n<p>Survey respondents are randomly drawn from NFIB\u2019s membership. The report is released on the second Tuesday of each month.<\/p>\n\n\n\n<p>To summarize, the report shows that things look a touch better, but small business owners still aren&#8217;t completely confident about things. <\/p>\n\n\n\n<p>And with the Presidential election only months away, I don&#8217;t see small business owners making a lot of higher-risk moves until it&#8217;s over. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The NFIB Small Business Optimism Index hit its peak for 2024 in June, reaching 91.5, a slight increase from the previous month. This marks the 30th consecutive month below the historical average of 98. That said, small business owners continue to remain apprehensive about the economy for the remainder of the year. NFIB Small Business [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":47107,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[28,62],"tags":[2281],"class_list":["post-47102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-franchise-news","category-small-business","tag-nfib-index"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NFIB Small Business Optimism Index June, 2024<\/title>\n<meta name=\"description\" content=\"NFIB Small Business Optimism Index reaches its peak in June 2024, with small business owners remaining apprehensive about the economy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Subscribe to my free VIP Franchise Newsletter.","sameAs":["https:\/\/www.thefranchiseking.com","https:\/\/www.instagram.com\/thefranchchiseking1","https:\/\/linkedin.com\/in\/joellibava","https:\/\/in.pinterest.com\/franchiseking\/","https:\/\/www.youtube.com\/JoelLibava"],"knowsAbout":["Franchising"]}]}},"_links":{"self":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/47102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/comments?post=47102"}],"version-history":[{"count":9,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/47102\/revisions"}],"predecessor-version":[{"id":48091,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/47102\/revisions\/48091"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media\/47107"}],"wp:attachment":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media?parent=47102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/categories?post=47102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/tags?post=47102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}