Small Business By The Numbers

The March Small Business Economic Trends data is largely reflective of small business owners’ and consumers’ reactions to a dramatic spike in oil prices. Small business owners are having to absorb those higher input costs and pass them along to their customers. NFIB Research Center Co-hosts, Holly Wade and Peter Hansen, calibrate what are considered significant changes in a month like this.  Learn more about the February Small Business Economic Trends report and NFIB’s new Small Business Employment Index. Other highlights include: NFIB’s Energy survey clearly showed energy was a large component of cost related to business operations (4:03) The NFIB Small Business Optimism Index fell 3.0 points in March to 95.8, leaving it below its 52-year average of 98.0 (6:27) The biggest contributors to the decline in the index (9:02) A large shift of 4 points in the health of their business (15:42) Small business landscape in hiring plans and unfilled job openings (17:10) 

NFIB’s February Small Business Economic Trends report shows a slight decline of half a point in the Optimism Index, though the Index remains slightly above its historical average (6:12). Podcast co-hosts Holly Wade, NFIB Research Center Executive Director, and Peter Hansen, Director of Research and Policy Analysis, analyze gains in NFIB’s Small Business Employment Index, which shows a balanced labor market through the start of 2026 (9:30) Learn more about the February Small Business Economic Trends report and NFIB’s new Small Business Employment Index. Other highlights include: Discussion of the NABE Policy Conference, where small business owners spoke about the tangible impacts of regulations on their business (0:05) Price metrics (13:30) Concern about poor sales as the single most important problem (19:40) Signs health care is challenging small businesses right now (22:59) 

NFIB’s January Small Business Economic Trends report reveals a steady start to 2026 with a modestly positive outlook for small businesses. Podcast co-hosts Holly Wade, NFIB Research Center Executive Director, and Peter Hansen, Director of Research and Policy Analysis, discuss the highlights, changes, and optimism for small businesses as they navigate the new year. They also cover NFIB’snew Small Business Employment Index, which uses data collected over the past 40 years to measure the pulse of the small business jobs market. Current story: A balanced labor market. Learn more about the January Small Business Economic Trends report and the new NFIB Small Business Employment Index. 

NFIB’s new Small Business Employment Index unifies several jobs-related metrics into one single measure of the small business labor market—essentially, the NFIB Small Business Optimism Index but for jobs. This new index is constructed from questions on planned and actual changes in employment and employee compensation, featuring data from the past 40 years. Podcast host Holly Wade, NFIB Research Center Executive Director, explores the numbers behind the NFIB Small Business Employment Index and analyzes the trends beyond the data.  Learn more about the new Small Business Employment Index and the greater economic trends in the latest Small Business Economic Trends report. 

The Small Business Economic Trends (SBET) report provides monthly insights into the operating environment for small businesses with data points such as optimism, uncertainty, job openings, pricing, employee compensation, and the health of small businesses. Podcast co-hosts Holly Wade, NFIB Research Center Executive Director, and Peter Hansen, Director of Research and Policy Analysis, discuss the 2025 SBET data reflecting on the top issues for small businesses over the past year, dive into the December numbers, and look ahead at expectations for economic conditions in the upcoming months.  Learn more about the top issues in NFIB’s most recent Small Business Economic Trends report. 

Take a look back at the 52-year history of NFIB’s Small Business Economic Trends report. The monthly report provides experts with a critical data framework for the small business economy. Special guest Bill Dunkelberg, NFIB’s Chief Economist,joins Holly Wade, NFIB Research Center Executive Director, to talk about the report and explore how this data has contributed to our understanding of economic conditions affecting small businesses over the decades. Learn more about the NFIB Research Center and the most recent Small Business Economic Trends report.  

Holiday shopping is underway, and small business optimism is increasing in NFIB’s recent Small Business Economic Trends data. Co-hosts Holly Wade, NFIB Research Center Executive Director, and Peter Hansen, Director of Research and Policy Analysis, explore causes for the increase in optimism, including positive news on sales, hiring, and compensation plans. They also discuss less encouraging data in the supply and pricing sphere, where inflation-related difficulties are increasing for small businesses. Learn more about the NFIB Research Center and get the full report.

Each month, the NFIB Research Center surveys a random sample of NFIB members to collect data for the Small Business Economic Trends Report. To kick off the new research podcast, co-hosts Holly Wade, Executive Director of the NFIB Research Center, and Peter Hansen, NFIB’s Director of Research and Policy Analysis, dive deeper into the key findings from the October 2025 survey. Their discussion covers numerous trends that have been difficult to track during the government shutdown data blackout. While NFIB’s Optimism Index is just above its historical average, the conversation covers an outlier in the labor market trend, small business’ concerns and challenges, and what to watch for in the coming months.  Learn more about the NFIB Research Center. 

The National Federation of Independent Business has been collecting and analyzing data focused on small businesses for 53 years. In this introductory episode of Small Business by the Numbers, co-hosts Holly Wade, NFIB Research Center Executive Director, and Peter Hansen, Director of Research and Policy Analysis, explainwhy this data matters and provide insight into the topics that will be covered in future episodes.