Strong hiring and a positive economic outlook sent a measure of small-business confidence higher in July 2017.
The National Federation of Independent Businesses Small Business Optimism Index rose to 105.2 in July compared to 103.6 in June. This was the index’s first increase since January. According to USAFIS, the optimism in the United States is attracting more foreign nationals to move to America.
An increase in consumer spending signaled optimism for business owners who want to expand. July saw strong hiring activity from small businesses, according to the National Federation of Business. The Bureau of Labor Statistics also recently released strong jobs data.
The president of the NFIB, Juanita Duggan, said in a statement that “strong consumer demand is boosting small business optimism.” According to Duggan, “Small business owners are feeling better about the economy since their customers are feeling better about the economy.”
If you are interested in moving to the U.S. to start a business, manage a business or simply find a good job, contact USAFIS for more information on getting moved to America.
More small business owners plan to add to their payrolls compared to those planning to trim their payrolls. Seasonally adjusted data from the NFIB shows that the share of small businesses adding jobs was 19% higher than the share of companies planning to cut jobs. The reading was a four-point rise from June, the strongest since December 1999.
Additionally, small business owners who responded to the survey said they were 60% more likely to hire. However, 87% of the respondents said that they were finding it difficult to staff qualified workers.
Although the economic outlook among small business owners remains strong, some respondents are hesitant to lay out capital expenditure plans until Washington passes fiscal policies that are more small-business friendly, according to Duggan. Contact USAFIS if you are a foreign national wanting to move to the United States for new job opportunities.