EXPORT, Pennsylvania — In the wake of 16 consecutive days of snowfall that created treacherous driving conditions for shoppers and diners alike, small business proprietors in Western Pennsylvania are looking ahead with a sense of hope as they approach President-elect Donald Trump’s inauguration on Monday.
From a busy auto repair shop to a local Italian deli, along with unique boutiques and two family-run restaurants, discussions with these Westmoreland County entrepreneurs echo the insights from the latest NFIB Small Business Optimism Index.
For over five decades, the research division of the National Federation of Independent Business has gathered data from its members. The most recent report was compiled in December 2024, shortly after Trump’s electoral victory.
According to Bill Dunkelberg, chief economist at NFIB, there is a palpable increase in optimism among small business owners as they anticipate an improved economic landscape following the election.
“Entrepreneurs are feeling more assured and optimistic about the new administration’s economic policies. There is heightened expectation for growth in the economy, reduced inflation rates, and favorable business conditions due to anticipated pro-business initiatives set to roll out this year,” he stated.
The survey indicated that many small business owners believe that tax cuts enacted in 2017 will remain intact this year due to Republican control over both chambers of Congress alongside Trump’s return to office.
However, local entrepreneurs voiced concerns regarding persistent inflation challenges that hinder their profitability. Inflation reached an unprecedented peak during summer 2022 at 9.1%, marking a historic high not seen in four decades; yet prices continue their upward trajectory.
Rising costs associated with fuel—both gas and diesel—alongside essentials like eggs and insurance have been significant sources of stress for small businesses over recent years.
Small businesses serve as vital components within our economy. They employ approximately 61.7 million individuals or nearly half (46.4%) of all private sector workers according to data from the U.S. Small Business Administration (SBA).
From 1995 through 2021 alone, these enterprises were responsible for generating around 17.3 million net new jobs—accounting for roughly two-thirds (62.7%) of all net job creation across America since ’95.
Currently boasting more than 33 million small businesses nationwide means many people either work at or own one themselves—a testament to their integral role within our communities.