The National Federation of Independent Business Small Business Optimism Index rose by 0.1 points to 95.9 in April, remaining below its 52-year average for the second consecutive month, according to a May 12 statement. The Uncertainty Index fell by four points to 88 but stayed well above its historical average.
The results reflect ongoing challenges for small businesses both nationally and in Wyoming, with inflation and labor quality cited as top concerns. The National Federation of Independent Business advocates for small businesses in Wyoming through legislative efforts and economic insights. It delivers education and policy updates to strengthen the state’s business community. The organization represents more than 1,800 small business members in Wyoming according to the official website.
“Inflationary pressures continue to be a challenge for Main Street,” said NFIB Chief Economist Bill Dunkelberg. “While small business optimism is currently fragile, the benefits of the Working Families Tax Cut Act should start to feed into the private sector over the next few months.” Michael Smith, State Director for NFIB Wyoming, said the national survey mirrors local experiences: “Small business owners continue to feel pressure on prices,” he said. “That makes it difficult for Main Street to hold the line on prices for their customers and invest in their operations.”
Key findings from April show declines or stagnation across several indicators: employment levels fell again; reports of price increases rose; labor quality remained a leading problem; sales weakened further; expectations about future sales volumes dropped; positive profit trends were rare; interest rates paid increased slightly; regular borrowing was at its lowest since late 2021; expectations about better business conditions continued their decline.
Survey data also indicated that while some owners plan new hiring or capital outlays soon, many still face difficulties filling open positions due to a lack of qualified applicants—a concern reflected by rising reports of unfilled jobs above historical averages.
The NFIB Research Center has collected these trends through monthly surveys since 1986 using randomly selected members from across sectors. The report is released each month on the second Tuesday following data collection.
