NFIB Survey shows rising small business optimism as uncertainty declines
FOX23 News at 9 p.m.
JEFFERSON CITY, Mo., (KBSI) — National Federation of Independent Business reported an increase in small business optimism as uncertainty declined to its lowest level since mid-2024, according to its latest monthly survey.
The NFIB Small Business Optimism Index rose 0.5 points in December to 99.5, remaining above its 52-year average of 98. NFIB officials said expectations for improved business conditions were the primary driver of the increase. The Uncertainty Index fell seven points from November to 84, its lowest level since June 2024.
“2025 ended with a further increase in small business optimism,” said NFIB Chief Economist Bill Dunkelberg. “While Main Street business owners remain concerned about taxes, they anticipate more favorable economic conditions in 2026 due to easing cost pressures, improved labor availability and increased capital investment.”
NFIB Missouri State Director Brad Jones said small business owners in the state closed out 2025 with cautious optimism.
“Missouri small business owners ended the year hopeful for better conditions in 2026,” Jones said. “With the legislative session underway, NFIB will continue working with lawmakers to ensure family-owned businesses can create jobs, expand and thrive.”
Key findings from the December survey include:
20% of owners cited taxes as their single most important problem, the highest level since May 2021.
The net percentage of owners expecting better business conditions rose nine points to 24%, the largest contributor to the index increase.
33% of owners reported job openings they could not fill, remaining above the historical average.
56% of owners reported capital outlays in the past six months, an increase of four points from November.
64% said supply chain disruptions continued to affect their business to some degree.
NFIB also released a new episode of its “Small Business by the Numbers” podcast alongside the December report, featuring discussion on economic trends and challenges facing small businesses nationwide.
The NFIB Research Center has conducted Small Business Economic Trends surveys monthly since 1986. The December 2025 survey was released in January.
