Arizona small businesses optimistic despite dip in national index

Dec 18, 2018, 3:00 PM

(Pexels Photo)...

(Pexels Photo)

(Pexels Photo)

PHOENIX – Despite a dip in a national index that measures optimism among small businesses, the outlook remains positive for Arizona entrepreneurs.

“Most small business people are focused on their checkbook and the orders coming in, and right now it looks pretty good,” Andy Hann, chairman of the Arizona Small Business Association Public Policy Committee, told KTAR News 92.3 FM on Monday.

Hann, who owns Fountain Hills Door and Supply, said the stock market, which has been in decline, doesn’t reflect the strength of the economy.

“If you look at the GDP and the employment rate, you generally find that the economy is going along pretty well,” he said.

National small business optimism fell to 104.8 in November, as measured by the NFIB, a small business advocacy group.

The index was lower only one other month this year, in March, but it remains historically high.

By comparison, between January 2013 and November 2016, the index eclipsed 100 only one time.

Hann said obtaining financing has become easier, facilitating growth for small businesses, because of changes made to the Dodd-Frank Act since the 2016 election.

“Bankers are much more inclined to give loans and give money out to small businesses just because they aren’t encumbered with a lot of the rules and regulations,” he said.

Dodd-Frank was enacted in 2010 in response to the global financial crisis. Hann said the Republican Congress has been chipping away at the restrictions.

“And most small businesses are probably the key people that benefit from that,” he said.

Hann said most businesses he’s heard from want to expand, but it can be difficult to find qualified employees in the current environment.

“It’s much tougher now to find people just because the employment rate is so low,” he said.

“It’s almost self-evident that you’ve got to go back and pay people more money.”

KTAR News 92.3 FM’s Griselda Zetino contributed to this report.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Azteca Bridal, a Phoenix wedding and quinceañera dress store, closed after 60 years....

Alyssa Bickle /Cronkite News

Azteca Bridal closes doors in Phoenix after 60 years of family-operated business

Azteca Bridal closed its doors for the last time after selling quinceañera and bridal dresses for 60 years.

4 minutes ago

Left webcam shows part of Valley with sign warning drivers to slow down. Right webcam shows snow on...

SuElen Rivera

Nearly every Valley city gets rains in overnight storm, parts of northern Arizona sees snow

Rain swept across metro Phoenix overnight and into the morning, while snow fell on parts of northern Arizona.

2 hours ago

Retired Justice Sandra Day O'Connor, and Arizona resident and the first woman on the U.S. Supreme C...

Sandra Day O’Connor, who blazed a trail from Arizona to US Supreme Court, dies at 93

Sandra Day O'Connor, who blazed a trail from Arizona to become the first woman to serve as a U.S. Supreme Court justice, died Friday in Phoenix.

2 hours ago

Mugshot of Pedro Quintana-Lujan. The Maricopa County Attorney's Office will no longer pursue a case...

Goodyear Police questions MCAO decision on driver who crashed into bicyclists

The Goodyear Police Department is questioning the decision by metro Phoenix's top prosecutor on a case involving a driver who crashed into group of bicyclists earlier this year.

3 hours ago

A judge rejected Kari Lake’s request to examine ballot envelopes of 1.3 million voters, giving th...

Associated Press

Kari Lake loses bid to see ballot envelopes in trial tied to Arizona election defeat

A judge rejected Kari Lake’s request to examine signed ballot envelopes of 1.3 million early voters from Arizona's 2022 election.

4 hours ago

Maricopa County Attorney Rachel Mitchell  is cracking down on organized retail crime with a new cam...

Maricopa County Attorney’s Office announces 3 more organized retail crime charges

Maricopa County Attorney Rachel Mitchell announced charges against three defendants involved in Organized Retail Crime (ORC).

6 hours ago

Sponsored Articles

Follow @KTAR923...

The best ways to honor our heroes on Veterans Day and give back to the community

Veterans Day is fast approaching and there's no better way to support our veterans than to donate to the Military Assistance Mission.


Desert Institute for Spine Care

Desert Institute for Spine Care (DISC) wants to help Valley residents address back, neck issues through awake spine surgery

As the weather begins to change, those with back issues can no longer rely on the dry heat to aid their backs. That's where DISC comes in.


Midwestern University

Midwestern University: innovating Arizona health care education

Midwestern University’s Glendale Campus near Loop 101 and 59th Avenue is an established leader in health care education and one of Arizona’s largest and most valuable health care resources.

Arizona small businesses optimistic despite dip in national index