Starting a Small Business in Nevada
Why Should I Start My Small Business In Nevada?
The state of Nevada has a growing reputation for being business-friendly. The advantages to starting a small business in Nevada are considerable. To wit, the top 5 reasons to start a small business in Nevada are:
- Low tax burden
- Low-cost startup, regulatory, licensing and annual fees
- State and local governments that are committed to economic development
- Incentives and grants that are readily available to qualifying businesses
- Lower living costs creates a competitive advantage from a hiring standpoint
How to Start a Small Business In Nevada
Nevada's Secretary of State offers plenty of guidance related to setting up a small business in Nevada. The Governor's Office of Economic Development is also rich with tips and and information about starting or expanding a small business in Nevada or relocating your existing small business to Nevada.
Starting a small business in Nevada requires investment capital. There are a variety of sources of small business funding to explore. Additionally, there are a wealth of financial programs for establishing a small business in Nevada.
Another valuable resource is SCORE (Service Corps of Retired Executives), a non-profit and resource partner of the SBA (Small Business Administration). SCORE can help you find a free business mentor or link up with one of its 389 local chapters across the U.S.
What Are the Main Industries in the State of Nevada?
Nevada's economy is supported by a wide range of industries. Major sectors include:
- Aerospace & Defense
- Information Technology
- Manufacturing & Logistics
- Natural Resource Technology
Not surprisingly, casinos are well-presented in Nevada's Top 10 Employers:
- MGM Resorts International
- Las Vegas Sands
- Caesars Entertainment
- Wynn Resorts
- Boyd Gaming
- Wynn Las Vegas
- The Venetian Las Vegas
- MGM MIRAGE
- MGM Grand Las Vegas
How to Buy a Franchise or Existing Business in Nevada?
There are options other than starting a business from scratch. One tried and true path to small business ownership is buying a franchise in Nevada. There are some excellent options available for financing a franchise.
Another option to consider is buying an existing small business for sale in Nevada. Small businesses account for 99.1% of all businesses registered in Nevada and employ 42% of the workforce. Here are some FAQs about small business loans.