Idaho Comment on Today’s National Economic Poll

Date: August 11, 2020

State given credit for not standing idly by and doing nothing

FOR IMMEDIATE RELEASE
Contact: Suzanne Budge, Idaho State Director, suzanne.budge@nfib.org
or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org

BOISE, Idaho, Aug. 11, 2020—The latest results from the nation’s bellwether measurement of its Main Street economy did not have much good news to announce this morning, but goings-on right now in Idaho should, over time, help brighten things a bit.

NFIB’s Small Business Economic Trends report (Optimism Index) fell 1.8 points to 98.8 in July, near the survey’s historical average. Overall, 4 of the 10 Index components improved, 5 declined, and 1 was unchanged. The NFIB Uncertainty Index increased 7 points to 88. Reports of expected better business conditions in the next six months declined 14 points to a net 25 percent.

“Things continue to be grim all over,” said Suzanne Budge, Idaho state director for NFIB. “But it’s a huge source of pride for me that our state refuses to take a woe-is-us attitude and cast our fate to the winds. We’re digging in and putting up a fight and in the end, we will prevail.” Budge commended Gov. Brad Little and his administration for taking five actions of huge help for the small businesses of the state that will be needed to put Idaho on the road to recovery:

  • Awarding more than $75 million to more than 8,700 Idaho small businesses through the Idaho Rebounds Cash Grants
  • Giving local governments the option to direct $94 million from the state to their local businesses
  • Providing employee return-to-work incentives worth $25.7 million
  • A 10% to 20% one-time reduction in property taxes for those cities and counties participating in the governor’s public safety plan
  • State PPE donations worth more than $1 million.

“We Idahoans insist on being masters of our own destiny, and I think that sets us apart from a lot of other states. “

NFIB Research Center has collected Small Business Economic Trends Data with Quarterly surveys since 1973 and monthly surveys since 1986. The sample is drawn from the membership files of the National Federation of Independent Business (NFIB). The SBET is one of the few archival data sets on small business, particularly when research questions address business operations rather than opinions. Today, it’s the largest, longest-running data set on small business economic conditions available.

Keep up with the latest on Idaho small business at www.nfib.com/idaho or by following NFIB on Twitter @NFIB_ID

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For more than 77 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.

National Federation of Independent Business/Idaho
802 W. Bannock, Ste. 301
Boise, ID 83702
208-345-6632
www.nfib.com/idaho
Twitter: NFIB_ID

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