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.

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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.”

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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.

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“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.