I’m not sure what happened around this time 8 years ago but, whatever it was, it sent small business owners into a tailspin. Confidence plummeted, optimism evaporated, and the outlook became bleak. It stayed that way throughout the soon-to-be previous administration’s tenure.

Increases in small-business owners’ optimism about the future, rather than their opinions of their present situations, are largely behind the increases in the overall index. Many of their assessments of their present expectations are down a little, while future expectations rose on all six components of the index.

Small-business owners’ optimism improved to its highest level in eight years after the 2016 presidential election. The latest Wells Fargo/Gallup Small Business Index, which measures the optimism of small-business owners, increased to +80 in mid-November from +68 in July. The November index represents the highest optimism reading since January 2008, when the index was at +83.

Since the embarrassing defeat of Hillary Clinton, things have turned around. According to Gallup, optimism among small business owners is now at its highest level since Obama took office.

If you’re a progressive who’s inclined to chime in with a round of “this is the result of Obama’s policies,” Gallup puts the notion to rest. This data is a direct result of Donald Trump’s win.

Small-Business Owners Upbeat About New President and Congress Overall, small-business owners are significantly more positive than negative about the prospect of the newly elected president and Congress. One-half (51%) of small-business owners think the actions of the new president and Congress will make their company better off, while 17% expect to be worse off and 26% feel the upcoming actions in Washington will have no impact on their business. Similarly, 61% of small-business owners believe the new president will focus on issues important to them as owners, while one-third predict he will not.

These numbers have nothing to do with Obama. It’s all about the plans Trump announced on the campaign trail. If I had to pinpoint it, I’d say the twin promises of tax reform and deregulation have over-burdened business owners rejoicing.

...That’s what electing an unabashed pro-business capitalist will do for you.

It’s time to take the gloves of the U.S. economy.