Some Las Vegas business owners upbeat on economy

Written By:

Marian Green

A recent national survey indicated growing pessimism among small-business owners about the economy, but interviews with a smattering of Las Vegas business owners yielded a sunnier outlook.

A survey released last week by the National Federation of Independent Business shows that owners became more pessimistic during September as employment and sales remained weak. The NFIB's index of owner optimism fell 0.1 point to 92.8.

The survey, which questioned nearly 700 of the NFIB's members, also indicated the number of owners who plan to create jobs fell 3 points, while the number who plan to reduce their payrolls rose 2 points. More than a fifth of the survey's participants said weak sales are their biggest business problem.

The NFIB survey had some bright spots. The number of owners who believe this is a good time to expand their companies rose 3 percentage points. And the number of owners who expect business conditions to improve in six months gained 4 points.

One reason the NFIB survey showed that more owners expect business to improve: The presidential election will be decided and Congress is likely to have taken action on tax bills. That would remove some of the uncertainty that has contributed to owners' pessimism the past few months.

Interviews with a Las Vegas Chamber of Commerce official and several Las Vegas business owners painted a different picture from the survey's results.

Source:

Las Vegas Review-Journal