Some Good News
October 26, 2010 11:14 AM
I attended the regular meeting of the Small Business Advisory Council this morning and heard some good news that I wanted to share. The SBAC is made up of about 20 small business owners from all kinds of sectors. There's a light manufacturer, a software company, a staffing agency, a security firm, a flooring company, an insurance agency and many more.
As they went around the room to report on the health of their businesses, I heard a lot more good news than I expected. About two-thirds of the business owners said that their business was rebounding this year. A typical story was that business had been off about 30% in 2009 but had come back strong this year. Some even reported their strongest quarters ever.
At the city we're seeing good news right now in only one indicator. Room tax revenues, while still much lower than before the recession, are inching back up and are actually slightly exceeding projections for 2010. But property values, investment income and building permits still are dismally low. My hope is that the good news we're starting to hear about in the small business community will find its way through the pipeline by next year.