Small businesses are responding positively to president-elect Donald Trump's election win, and are optimistic about his administration, a recent survey shows.
The National Federation of Independent Business's Index of Small Business Optimism increased by 3.5 percentage points in November. The index measured small business owners both before and after the election, with the post-election results leaping 7 points, The Hill reports.
According to the NFIB, business optimism has only been this high twice since the 2008 recession.
"What a difference a day makes," said Juanita Duggan, president of the NFIB, told The Hill. "Before Election Day, small business owners' optimism was flat, and after Election Day it soared."
According to Duggan, the results show that small businesses are looking forward to Trump's promise of lower taxes and less regulation for companies.
"They never dreamed they were going to have this president-elect," she added.
Last week, a Business Roundtable survey of CEOs showed that businesses expect more sales and hiring, but less capital investment in the next six months.
"America's business leaders are encouraged by President-elect [Donald] Trump's pledge to boost economic growth," said Doug Oberhelman, the head of Caterpillar and current BRT Chairman.
"We will work with the incoming administration and Congress to enact pro-growth policies such as modernizing the U.S. tax system, adopting a smarter approach to regulation, investing in infrastructure and focusing on the education and training people need to thrive in the 21st century economy."
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