The National Federation of Independent Business (NFIB) released the results this week of a February survey of small business owners that showed optimism improving amid a waning pandemic.
Details in the report showed that owners were increasingly looking to hire new employees in February and proprietors reporting increased earnings increased as well.
Rosemary Elebash, NFIB state director for Alabama, remarked, “It’s been a long and difficult year for Alabama’s small businesses, but Governor Ivey’s decision to ease the restrictions on Alabama businesses and lift the state’s mask mandate on April 9 gives our members hope that the worst really is behind us.”
Another metric monitored by the NFIB, the Uncertainty Index, decreased by five points.
The news in the report was not all positive. Business owners reported a decrease in plans to stock up on inventory and a growing number of firms feel that current credit conditions will not remain as they are for much longer.
While up from February, the optimism index remains lower than other pandemic-months such as September and October of 2020.
“Small business owners worked hard in February to overcome unexpected weather conditions along with the ongoing COVID-19 pandemic,” noted NFIB chief economist Bill Dunkelberg.
“Capital spending has been strong, but not on Main Street. The economic recovery remains uneven for small businesses, especially those still managing state and local regulations and restrictions. Congress and the Biden administration must keep small businesses a priority as they plan future policy legislation,” he added.
Henry Thornton is a staff writer for Yellowhammer News. You can contact him by email: [email protected] or on Twitter @HenryThornton95.
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