A survey of small-business owners by the National Federation of Independent Business found owners were less optimistic about their business than they were last month.

The federation's small-business optimism index fell 2.2 points to 95.9, its lowest reading since March 2003.

But two components of the index — the number of job openings and owners' plans to create new jobs — rose this month, indicating that even as small-business optimism has ebbed, many owners are considering expanding.

John Reinhardt, owner of Fillmore Real Estate in Brooklyn, N.Y., says the slide in real estate prices has been good for business because it makes buying a home more affordable. “The numbers are doing real well. If I took my average monthly production, it’s up 20 percent the last month and a half or two months,” says Reinhardt.

Other owners are in businesses that stand to benefit from hard times. Lew Freeman is a forensic accountant who specializes in helping lenders who are worried about borrowers who look like they’re heading for default. Business is up right now, he says.