The Daily Rundown

SMB News Daily Rundown: Update for October 14

Welcome to the Small Business Rundown. Each day, we bring you stories that impact small business owners and their workforce.

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Small Business News Highlights for October 14: 

  • White House on stimulus package: Go Big or Go Home
  • SBO optimism reaches pre-pandemic levels … for some
  • Survey finds SBOs support national paid sick leave

Stimulus package

“A fly on the wall or wherever else it might land in the Oval Office tells me that the President only wants his name on a check to go out before Election Day and for the market to go up.”

Despite Senate Republicans’ efforts to pass a targeted Coronavirus relief bill in short order, President Donald Trump continues to urge Congress to “STIMULUS! Go big or go home!!!” via Twitter.

Though House Democratic leadership remains uninterested in a piece-meal approach to propping up the economy, Senate Majority Leader Mitch McConnell has indicated he intends to bring his $500 billion piece of legislation to a vote next week.

The good news? Scientists say that there’s a 50-50 chance that we’re just living in a simulation and none of this is real.

SBO optimism

“We’re opening the economy up, people are going back to work, sales have been definitely rising.”

The National Federation of Independent Businesses released its “Small Business Optimism Index” for September and the numbers indicate that SBO outlook is nearly as rosy as it was before the pandemic changed life and business as we know it.

Analysts note, however, that this is not the case for all U.S. small business owners, pointing out that the NFIB’s membership is largely located in small towns and cities and tends to skew towards industries that have rebounded quickly — such as construction and manufacturing.

Businesses in the retail and service industry sectors tend to report a much less optimistic outlook.

Support for national paid leave

“A super majority of small-business owners do support—have continued to support—a national paid-leave policy.”

A new survey debunks the conventional wisdom that small business owners oppose a national paid leave policy for sick time.

In fact, the research found that up to 69% of small business owners favor paid leave, and support paid leave over COVID-19 liability protection by a 2-to-1 margin.

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