Study: 'Rebirth' for South County Small Businesses

Studies also found positive indicators for San Diego County's economy.

Economic reports and indicators have found parts of San Diego's economy on the mend, and confidence is up in South County for small business owners.

According to the San Diego County Regional Chamber of Commerce's 2012 San Diego Small Business Outlook released Wednesday, the San Diego County Business Outlook Index rose from 19.7 in 2010 to 28 in 2012.

From National City to the international border, the index increased from -0.8 in 2010 to 40 in 2012, more than any other region in San Diego County.

"None of the cities showed significant increases in the index; however South County businesses clearly experienced a rebirth," the report said.

The index is compiled by asking 500 business owners with less than 50 employees around San Diego to evaluate revenue, use of credit, hiring, spending and spending on business development.

Another report released Wednesday also found positive growth for the region.

The University of San Diego Burnham-Moores Center for Real Estate's Index of Leading Economic Indicators for June in San Diego County rose by 0.1 percent from the previous month.

That compares to climbs of 0.7 percent in May and 0.6 percent in April.

The index stood at 121.4 in June after eight straight months of increases. It is at its highest level since March 2008.

A sharp increase in the number of residential building permits issued in June, along with moderate climbs in consumer confidence and help-wanted advertising, barely offset declines in employment, local stock prices and the outlook for the national economy, according to USD Professor Alan Gin.

He said that despite a dip in the job market last month, the region has added 24,000 jobs over the last year.

"Barring an international event–Europe, China, the Middle East–that tips the national economy into a double dip recession, that job growth in expected to last the rest of the year and into at least the first half of 2013," Gin said.

Another chamber report released in June about recovery from the recession found "gradual and positive trends in unemployment, real estate, tourism and production indicate that the worst may be over."

Both San Diego County Regional Chamber of Commerce reports are attached here.

City News Service contributed to this report.


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