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Business and the Economy

Small Business Optimism Cited In Summer Survey

The state director of the National Federation of Independent Business says small businesses in Kentucky are adapting their retailing strategies and it’s prompting some optimism about future sales.  Tom Underwood responded Tuesday to a national survey of small businesses conducted this summer.

Underwood says expanding an online presence is one way to cope with coronavirus times.  “Seen them expand into delivery and curbside and they’ve found that they can make these things work and I would say what we’re seeing here is some optimism that there is a path forward, even though business may not be done exactly the way it was 12 months ago,” said Underwood.

The NFIB Small Business Optimism Index increased 6.2% in June with eight of ten components improving and two declining.  Most recently, states like Florida, Texas, California, and Arizona have seen surging COVID-19 cases.  In certain states, coronavirus related limitations have been re-instituted.

Tom Underwood said the small business community in Kentucky wants customers to feel safe during a time of coronavirus. If that means wearing masks to keep doors open, he believes small business leaders will support that.  The longtime NFIB state director added unfortunately small business owners and employees are being called upon to be enforcers.  “I don’t know how you enforce mask wearing at every level without the individual proprietor being forced to be the one to do it because they’re on the scene and quite frankly the police department is a little overwhelmed right now anyway,” explained Underwood.

Underwood noted that optimism and confidence are two backbones of a solid state economy.

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