Small Business Optimism Slips as Owners Expect Worse Conditions, Lower Sales

‘Global and domestic actions are generating insecurities in abundance, both political and economic,’ the NFIB wrote in a commentary.

People walk outside the New York Stock Exchange, in New York, on April 7, 2025. Spencer Platt/Getty Images

Confidence among America’s small businesses fell in March, as more owners anticipated worsening economic conditions and a decline in real sales, according to a new report from the National Federation of Independent Business (NFIB), the country’s largest small business lobby.

The NFIB reported on April 8 that its Small Business Optimism Index dropped 3.3 points to 97.4, the largest monthly decline since June 2022 and the lowest reading since before the 2024 election.