A recent poll shows that small business owners feel more optimistic about the economy after the election.

The National Federation of Independent Business’ Small Business Optimism Index rose eight points in November to 101.7, its highest level since June 2021.

The uncertainty index fell 12 points in November to 98, after the pre-election record of 110 reached in October.

NFIB Chief Economist Bill Dunkelberg said small business owners became more confident about future business conditions after the presidential election, ending a nearly three-year streak of record uncertainty.

“Landlords are particularly hopeful for tax and regulatory policies that promote strong economic growth as well as relief from inflationary pressures,” he said in a statement. “Plus, small business owners are eager to expand their operations. »

The net percentage of homeowners expecting the economy to improve increased 41 points from October to a net rate of 36%, the highest since June 2020.

Some owners are also hoping that 2025 will be a good time to expand. The percentage of small business owners who believe it is a good time to expand their business increased eight points to 14%. This is also the highest figure since June 2021.

Although inflation has eased, it remains a major concern for homeowners. Twenty percent of owners said inflation was their biggest problem in operating their business (higher input and labor costs). It surpassed quality of work as the main issue by one point.