Small business optimism findings in Wyoming
The National Federation of Independent Business of Wyoming conducted a recent survey, here’s the findings.
CHEYENNE, Wyo. (Wyoming News Now) - There was not much optimism to be found in today’s release of the latest Small Business Optimism Index from NFIB, but the Wyoming state director for the association that conducts the monthly poll says businesses can take some comfort in initiatives recently taken by the state’s Legislature and governor.
“From a national standpoint, this report was not the news we were hoping for,” said NFIB’s Wyoming State Director Tony Gagliardi. “Businesses are trying desperately to reopen and survive this pandemic. Wyoming small businesses, however, can take some comfort in having a proactive Legislature and governor that have acted swiftly by passing liability protection from unfair COVID lawsuits.”
The Optimism Index declined in January to 95.0, down 0.9 from December and three points below the 47-year average of 98. Owners expecting better business conditions over the next six months declined seven points to a net negative 23%, the lowest level since November 2013. The net percent of owners expecting better business conditions has fallen 55 points over the past four months.
As Wyoming’s small businesses serve as the bloodline to the local economy where people go from here imposes a certain set of challenges. However, NFIB believes Wyomingites are prepared.
“Small businesses employ three quarters of the workforce in Wyoming. They’re saying can i sustain it once the funds run out from the program. There’s still work to be done but they’re making adjustments away from a pure just dollars and cents.”
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