The anticipation of Donald Trump returning to the White House sparked a surge of optimism on Main Street, according to multiple post-election surveys. The NFIB's latest Small Business Optimism Index jumped 8 points to 101.7 in November with the election results indicating a significant shift in economic policy from the Biden-Harris administration, breaking a 34-month streak of record-high uncertainty with the highest reading since June 2021.
According to the survey, both male and female business owners remain hopeful for the new administration and look forward to business growth – with nearly 92% of women-led businesses saying they expect increased revenues in the new year. The NFIB's Close said a lot of the optimism can be attributed to the hope that Trump's signature tax cuts from his first term will be extended in his second, given that Republicans now control not only the White House, but both chambers of Congress.