LOS ANGELES (CBS) — A small business conference held in downtown Los Angeles on Thursday had some words of encouragement for local entrepreneurs facing a tough economic climate.

KNX 1070′s Pete Demetriou reports at least one analyst even said the latest Wall Street jitters are “not a bad thing” for start-ups.

Matt Goulet, president of Urbanomics Planning Group was among the attendees at the California Small Business Development Centers conference.

“Entrepreneurs are by nature risk-takers,” said Goulet. “It’s not going to deter people necessarily starting a business if they see volatility.”

The idea behind such optimism? If enough small businesses have a sound operating plan and secure capital from prior loans or access to credit, those entrepreneurs could lead any future expansion when the economy as a whole comes back.

Bill Carney of economic development consulting firm Carney and Associates pointed to some unexpected benefits to an otherwise grisly financial forecast.

“There might be less competition, the potential competition may be focused on survival and not on strategic direction, so there’s opportunities, I think, for businesses that are well-planned,” said Carney.