I recently came across some interesting facts about business in Nevada from the Nevada Small Business Resource publication put out by the Small Business Association. Did you know that small businesses (varying in size by industry as determined by the SBA) make up 95.6% of all employers in the state of Nevada and that small business employs 41.7% of the private sector workforce here? Those are some impressive numbers!
There is also quite a bit of diversity within the large pool of 222,457 small firms in Nevada. Nearly 9,000 of those are businesses run by African-American owners and nearly 18,000 are held by Hispanic-Americans. And 30% of all small businesses in the state are owned by women, an impressive 66,737 businesses state-wide.
What attracts so many small business owners and entrepreneurs to start and stay in Nevada? There are many but the three I most often hear are:
- Taxes – there’s no personal or corporate income tax, no inheritance tax, no franchise tax nor any business inventory tax
- Proximity to the whole west coast – a day trip to the Bay area and Menlo Park and an airport with little hassle that can reach from San Diego to Seattle both in under two hours
- Culture – a state tradition of individualism and an appreciation for the diverse nature that surrounds us
What are some of the reasons that you chose Nevada or want to relocate here? Share below! And if you’re in the Reno area, you should share that story with the Biggest Little City project.