ARIZONA NEWS

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.

Lifetime Windows & Doors

We want to hear from you.

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

Arizona News

(City of Peoria Photo)...
Audrey Jensen/Phoenix Business Journal

Peoria approves tax incentive agreement with mixed-use project developer

Peoria moved forward with what could be the final development agreement needed for a new mixed-use office project called Stadium Point.
9 hours ago
Follow @KTAR923...
KTAR.com

Downtown Chandler hosts life-sized holiday treats display ‘Sugarland’

Downtown Chandler kicked off the holiday season with an interactive Christmas display filled with life-sized treats on Saturday.
9 hours ago
(Facebook Photo/Phoenix Police Department)...
KTAR.com

Police arrest suspect in stabbing death of 33-year-old man in Phoenix

Police arrested and charged a man with murder in the stabbing death of a 33-year-old man in Phoenix late Saturday, authorities said.
1 day ago
(Facebook File Photo/Phoenix Police Department)...
KTAR.com

Man taken to hospital by family after being shot in Phoenix dies

A 33-year-old man who was taken to a hospital by family members Friday night after being shot in Phoenix has died.
1 day ago
(Facebook Photo/Phoenix Police Department)...
KTAR.com

Police seek public’s help in shooting death of man in Phoenix

Police are asking the public for information in the shooting death of a 30-year-old man in the parking lot of a business in Phoenix.
1 day ago
(Metro-Phoenix Public Affairs Council Photo)...
KTAR.com

Christmas lights return to Latter-day Saints temple in Mesa after 5-year hiatus

Christmas lights have returned to the Latter-day Saints temple in Mesa this season after more than five years since they were last showcased.
1 day ago

Sponsored Articles

...
Quantum Fiber

How high-speed fiber internet edges out cable for everyday use

In a world where technology drives so much of our daily lives, a lack of high-speed internet can be a major issue.
...
Quantum Fiber

Stream 4K and more with powerful, high-speed fiber internet

Picking which streaming services to subscribe to are difficult choices, and there is no room for internet that cannot handle increased demands.
...
Day & Night Air Conditioning, Heating and Plumbing

Ways to prevent clogged drains and what to do if you’re too late

While there are a variety of ways to prevent clogged drains, it's equally as important to know what to do when you're already too late.
Arizona small businesses optimistic despite dip in national index