NFIB Weekly News
Leading the News
Small Business Owners Urge Congress to Prioritize the Small Business Deduction (04/15/2024)
The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued the following statement from President Brad Close on Tax Day 2024:
“On this Tax Day, small business owners want to see Congress take action and make the 20% Small Business Deduction permanent. Unlike their larger competitors, small business owners are at risk of a significant tax hike if the Small Business Deduction expires in 2025. As small businesses represent nearly half of the GDP, passing the Main Street Tax Certainty Act should be a top priority for Congress and the administration. We are encouraged that this important bipartisan legislation has been introduced in both Chambers and urge Congress to pass it.”
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Small Businesses Urge Court to Affirm Separation of Powers (04/01/2024)
WASHINGTON, D.C. (April 1, 2024) – NFIB filed an amicus brief in the case State of Texas v. President Joseph R. Biden at the U.S. Court of Appeals for the Fifth Circuit. This case questions whether the President and Department of Labor (DOL) have authority to increase the minimum wage for federal contractors. NFIB’s brief argues that the lower court correctly decided that the DOL rule, Increasing the Minimum Wage for Federal Contractors, exceeded the statutory authority delegated by Congress.
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Workplace inspection rule will hinder small business operations (03/29/2024)
WASHINGTON, D.C. (March 29, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued the following statement on behalf of Beth Milito, Executive Director of NFIB’s Small Business Legal Center, regarding the Occupational Safety and Health Administration’s (OSHA) final rule on workplace inspections.
Read the statement here
NFIB Statement on Credit Card Anti-Trust Settlement (03/26/2024)
WASHINGTON, D.C. (March 26, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued the following statement from Vice President of Federal Government Relation Jeff Brabant regarding the Visa and Mastercard anti-trust settlement:
Read the statement here
ICYMI: NFIB’s Beth Milito in The Washington Times (03/19/2024)
WASHINGTON, D.C. (March 19, 2024) – Today, The Washington Times published an editorial from Beth Milito, Executive Director of NFIB’s Small Business Legal Center on the proposed regulations that will affect small businesses this year and the impact of onerous red-tape, costly mandates, and paperwork burdens on Main Streets nationwide.
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Small businesses benefit from Scope 3 removal (03/08/2024)
WASHINGTON, D.C. (March 8, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued the following statement regarding the SEC removing the Scope 3 requirements from its final rule:
Read the statement here
Business Climate
Supreme Court Upholds Fifth Amendment Rights for Small Businesses (04/12/2024)
WASHINGTON, D.C. (April 12, 2024) – NFIB applauds today’s decision in Sheetz v. County of El Dorado, California at the United States Supreme Court. The Court held that the Takings Clause does not distinguish between legislative and administrative permit conditions. NFIB joined The Buckeye Institute in filing an amicus brief in the case.
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Small Business Optimism Reaches Lowest Level Since 2012 (04/09/2024)
WASHINGTON, D.C. (April 9, 2024) – The NFIB Small Business Optimism Index decreased by 0.9 of a point in March to 88.5, the lowest level since December 2012. This is the 27th consecutive month below the 50-year average of 98. The net percent of owners raising average selling prices rose seven points from February to a net 28% percent seasonally adjusted.
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Small Businesses Back Prove It Act to Reduce Burdensome Regulations (03/21/2024)
WASHINGTON, D.C. (March 21, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, applauds the U.S. House Judiciary Committee for advancing the Prove It Act. The legislation would strengthen the requirements for government agencies to analyze the impact of regulations on small businesses and increase small business engagement in the regulatory process. NFIB member and small business owner Rep. Brad Finstad (MN-01) is the lead sponsor of the legislation.
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Stop a Massive Tax Hike (03/14/2024)
Small businesses will face a massive tax increase in 2025 if Congress fails to act. Three out of four of America’s millions of small employers benefit from the 20% Small Business Deduction created in the 2017 Tax Cuts and Jobs Act.
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NFIB’s Optimism Index stays below 50-year average in February (03/12/2024)
WASHINGTON, D.C. (March 12, 2024) – The NFIB Small Business Optimism Index decreased in February to 89.4, marking the 26th consecutive month below the 50-year average of 98. Twenty-three percent of small business owners reported that inflation was their single most important business problem in operating their business, up three points from last month and replacing labor quality as the top problem.
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Small Businesses Challenge OSHA’s Safety Standards in Latest Brief (03/01/2024)
WASHINGTON, D.C. (March 1, 2024) – NFIB filed an amicus brief in the case Allstates Refractory Contractors, LLC, v. Julie Su at the United States Supreme Court. The case questions whether Congress’s delegation of authority in the Occupational Safety and Health Act to write “reasonably necessary or appropriate” standards for a “safe” workplace violates the Constitution. NFIB argues OSHA’s statutory power to issue those safety standards is unconstitutional.
Read the full article here
Small Business Marketing
Expert Criticizes Email For Customer Communication, Says Texting Is Superior (04/19/2022)
In a USA Today (4/14, Deerwester) column, lawyer, speaker, and author Steve Strauss wrote that “email is actually a fairly horrible way for business generally, and small business, in particular, to communicate with customers. Unopened and unwanted, ignored and abandoned, emails simply don’t get through anymore.” Strauss went on to argue that texting is superior to emailing.
Marketing Challenges Facing Small Business Owners Highlighted (04/19/2022)
Startup. Info (4/15) highlighted marketing challenges small business owners find themselves confronted with as well as how to deal with said challenges. One of these challenges is content distribution, with Startup. Info saying that content distribution “entails the practice of spreading your content far and wide. But we must state that it’s also a very challenging aspect of marketing.” With regard to how to deal with this challenge, Startup. Info says, in part, “Have a detailed content calendar that shows when, where, and how you spread your content.”
Tips Offered For Small Business To Craft Effective Brand Experience (04/19/2022)
Small Business Trends (4/9, Pilon) provided “10 tips for creating an effective small business brand experience.” Among the areas small business owners should consider are creating an appealing logo, crafting a brand voice, and improving website design.
Commentary: QR Codes Can Help Business Owners “Bridge The Gap” Between Traditional, Digital Marketing (04/12/2022)
Michael Plummer, Jr., president of “premier New Mover Marketing franchise” Our Town America, wrote in Forbes (3/30, Plummer) that businesses should “bridge the gap between traditional and digital marketing by learning how to use QR codes as part of your print marketing strategy.” Plummer wrote, “Using QR codes in your marketing materials can help your business connect with customers and drive traffic to your website,” as well as help build an email database to “stay in touch with your loyal customers” and boost customer feedback.
SBA’s National Small Business Week Set For May 1-7 (04/05/2022)
The Lower Bucks (NJ) Times (3/28) said the Small Business Administration’s “National Small Business Week: Building a Better America Through Entrepreneurship is set for May 1-7.” SBA Administrator Isabella Casillas Guzman said the virtual event “celebrates the resiliency and tenacity of America’s entrepreneurs who are doing their part to power our nation’s historic economic comeback.”
Small Businesses Advised To Shift Social Media Strategy To Cope With Instagram Priority Change (04/05/2022)
Insider (3/28, York) reported that in late 2021, Instagram “announced a shift to prioritizing video-focused content over photo-focused content,” and “small businesses and creators [said] that the frequent updates and changes make it difficult to grow their accounts, especially those rooted in photo content.” Social media coach Kar Brulhart “add[ed] that Instagram’s algorithm is prioritizing video and reels to compete with YouTube and TikTok,” and advised entrepreneurs to “create stop-motion reels to showcase their products in various frames or film clips to compile into a montage.” Amanda Teo, a director of marketing at the sustainable-packaging company Noissue, “add[ed] that video content produced in-house shouldn’t feel overly produced,” and was quoted saying, “We’ve tested more-produced videos versus more-authentic videos, and the authentic videos that look like you just filmed it off your phone with minimal editing performed really well.”
Wages and Benefits
NFIB Jobs Report: Small Business Job Openings Fall to Pre-Pandemic Levels (04/04/2024)
WASHINGTON, D.C. (April 4, 2024) – NFIB’s monthly jobs report shows a general slowdown in employment activity for small businesses in March, with a seasonally adjusted net 11% planning to create new jobs in the next three months, down one point from February and the lowest level since May 2020.
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Health Care Regulation Hinders Small Businesses Nationwide (03/28/2024)
WASHINGTON, D.C. (March 28, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, is disappointed in today’s final health care rule on short-term health plans. The rule restricts small businesses’ ability to select health coverage by limiting access to flexible, low-cost, short-term health plans. NFIB previously submitted comments to the administration opposing the rule.
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NFIB Jobs Report: Small Business Employment Slows (03/07/2024)
WASHINGTON, D.C. (March 7, 2024) – According to NFIB’s monthly jobs report, 37% (seasonally adjusted) of all owners reported jobs openings they could not fill in the current period, down two points from January and the lowest reading since January 2021. The percent of small business owners reporting labor quality as their top small business operating problem declined five points from January to 16%, the lowest reading since April 2020.
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Increasing access to affordable child care is a huge piece of the workforce puzzle. (02/08/2024)
Small Business Owners Urge Missouri Lawmakers to Bolster Workforce, Increase Access to Affordable Child Care
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NFIB Jobs Report: Labor Quality Remains Top Concern for Small Business Owners (01/04/2024)
The percent of small business owners reporting labor quality as their top small business operating problem remains elevated at 20%, according to NFIB’s monthly jobs report.
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NFIB Jobs Report: Tight Labor Market Continues to Hinder Main Street (11/02/2023)
WASHINGTON, D.C. (Nov. 2, 2023) – In October, 43% (seasonally adjusted) of all owners reported job openings they could not fill in the current period, according to NFIB’s monthly jobs report. The percent of small business owners reporting labor quality as their top small business operating problem remains elevated at 23%.
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