Tax reform benefits create business optimism

Small business owners’ optimism has increased significantly since the MetLife &U.S. Chamber of Commerce Small Business Index began tracking sentiment.

According to the results, nearly twice as many (47 percent) small businesses feel tax reform will help their business grow than those who think it will hurt. Even more, 54 percent, believe tax reform will help the national economy.

More than half (55 percent) of business owners see the economy in good health, up 17 percentage points from 38 percent in the fourth quarter of 2017, the recently released survey shows. Small business owners’ optimism on the national economy appears to be correlated to their belief that tax reform will have a positive impact on business health.

Among small business owners that believe tax reform will help the economy, 69 percent say the U.S. economy is in good shape with 35 percent reporting the economy is in very good shape.

A surge in confidence in the national economy helped push the Small Business Index up for the fourth consecutive quarter.