Texas Small Business Optimism Grows in October

posted by Jim Forsyth - 

Optimism about the future among Texas small business owners has reached 45 year highs for a third straight month, according to surveys taken by the National Federation of Independent Business, News Radio 1200 WOAI reports.

Annie Spilman, who is the Director of the NFIB in Texas, says the monthly survey of small businesses shows growth in all four areas.

She says actual capital spending in the past few months rose significantly, average employment change per firm was solid, owners bulked up inventories, and compensation increases hit a new record.

“Small business owners aren't going to risk investing in new equipment or new locations or new employees unless they believe the economy is strong and regulators aren't going to change the rules in the middle of the game,”  Spilman said.

“This is the longest streak of small business optimism in history, evidence that tax cuts and regulatory rollbacks are paying off for the economy as a whole,” said NFIB President and CEO Juanita D. Duggan. “Our members say that business is booming and prospects continue to look bright.”

NFIB economists say the U.S. and Texas economies both continue to show surprising growth, despite the length of the current upturn.

Much of the data shows the most optimism for the future among small businesses since the monthly survey began 45 years ago.

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