The National Federation of Independent Businesses (NFIB) released its March Economic Trends Report, documenting the largest monthly decline of the NFIB Small Business Optimism Index in the survey’s history, falling 8.1 points in March to 96.4.
Nine of the 10 index components declined, which notes economic disruptions are escalating as small businesses struggle to stay open. The negative report signifies the end of a historic 39-month run of optimism for Main Street businesses.
Also released by NFIB were surveys on how COVID-19 is impacting small businesses. Ninety-two percent of small employers are reporting negative impacts from the outbreak and about half stated they can survive for no more than two months under the current business conditions.
