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TALLAHASSEE, Fla. (March 19, 2026) – A new Florida Small Business Economic Trends (SBET) report, produced by the National Federation of Independent Business (NFIB) Research Center and released today, shows Florida small business owners are more optimistic about the direction of the economy, but face certain other challenges, such as hesitancy to hire. The survey highlights responses from Florida small business owners on a variety of issues compared to national averages from the NFIB’s monthly SBET surveys throughout the year.
“Florida has a vibrant economy, made up of much more than the state’s nation-leading tourist industry,” said Bill Herrle, NFIB Florida Executive Director. “Although overall state optimism is on par with the rest of the nation, Florida’s small business owners have benefited from a reliable pro-small business Legislature and are anticipating continued improvement in economic conditions. The cost and availability of insurance have been a consistent concern for small employers in Florida, and NFIB remains committed to advocating for relief for the state’s small businesses. It is also crucial that we continue to defend the historic legal reform small businesses achieved so that Florida’s small owners aren’t once again saddled with costly and unnecessary lawsuits.”
The Small Business Optimism Index for Florida small businesses in summer (April-Sept.) 2025 was 97.5, 0.4 points lower than the national average. Of the 10 components that make up the Index, several categories seem to be meaningfully different between Florida and the U.S. overall, including:
- Small business owners in Florida were more optimistic about the future of the economy, with 5 percentage points more (net) expecting the economy to improve.
- Florida small business owners are more hesitant about employment investment, with plans to increase employment coming in 5 points lower for Florida compared to the U.S. average. That parallels the 3-point lower reading for current job openings.
- The other notable difference was a 4-point gap between Florida and the rest of the U.S. in earnings trends, which were lower in Florida.
“The Small Business Economic Trends survey has provided essential information about the small business economy for decades,” said Holly Wade, Executive Director of NFIB’s Research Center. “While this data is a useful tool for evaluating the economy on a national scale, no state can be defined by national numbers alone. This state-specific report allows us to better understand business conditions and the unique challenges and strengths owners face in Florida.”
Business Health
When asked about the health of their business, Florida small business owners reported similar ratings compared to the rest of the country. In Florida, 14% of owners reported the health of their business as excellent (3 points above the national average of 11%), 53% reported it as good (1 point below the national average of 54%), 29% reported it as fair (equal to the national average), and 3% reported it as poor (2 points below the national average of 5%).
Single Most Important Problem
Twenty percent of Florida small business owners ranked the cost/availability of insurance as their single most important problem, making it the top problem for small businesses in the state and ranking 11 points above the national average. Cost/availability of insurance is a more significant issue in Florida than in other states, but the current high level is new. No other issue ranks substantially worse in Florida.
While insurance is currently a major obstacle, Florida small businesses are faring a little better than those in other states on a couple of metrics. Fewer owners reported taxes as their top problem, 6 points lower than the U.S. in the latest data, and labor quality was 4 points lower.
Uncertainty Index
Unfortunately, small businesses in Florida and the U.S. as a whole experienced elevated levels of uncertainty throughout 2025, with many owners reporting “don’t know” or “uncertain” when asked a variety of questions about their plans for their business over the course of the year. That led to 2025 being the highest year on record for NFIB’s Small Business Uncertainty Index, with little difference between the numbers for the U.S. and Florida. This level of uncertainty greatly impacts the ability of small businesses to plan and operate, particularly affecting any potential capital investment plans.
The data for this report is sourced from NFIB’s Small Business Economic Trends (SBET) Survey. The NFIB Research Center has collected SBET data, polled from a random sample of NFIB members, with quarterly surveys since the fourth quarter of 1973 and monthly surveys since 1986. To create this new state-specific report, NFIB pooled data from multiple surveys into a weighted average for a given season (Apr-Sep for summer and Oct-Mar for winter). This report analyzes data from Florida respondents from throughout 2025.
