[ad_1]
of Nevada Small Business Development Center (SBDC) released its 2022 Small Business Challenges Survey this month. The results show that entrepreneurs interested in starting a small business in Nevada face significant challenges in securing debt and raising financing, as well as developing their businesses, such as creating a business plan and marketing strategy.
Of the 225 respondents who wanted to start a small business, 58% said securing financing was one of the top three challenges they faced when trying to start a business in Nevada. When it comes to developing a business strategy, 54% of those same respondents said that creating a business plan and/or overall marketing strategy poses a major challenge to the success of their small business.
“Unfortunately, capital funding continues to be difficult for businesses in Nevada,” said Nevada SBDC State Director Winnie Dowling. “While this is not new, it puts startups at a disadvantage to pay more to get up and running, especially in our community. It’s important for everyone to know what businesses want.”
The study is a collaborative effort between the Nevada SBDC, the Governor’s Office of Economic Development (GOED) and Nevada Chambers of Commerce, development officials and economic development partners. Responses are due in July and August 2022.
The results of the survey also show that existing businesses are affected by inflation and energy costs. Of the 486 existing business respondents, 50% said inflation was a major challenge, while 47% said it made it difficult to plan business expansion and find new customers. Other challenges include hiring and retaining employees and navigating government regulations.
More than two years after the global COVID-19 pandemic began, these survey results show that Nevada small business owners have moved beyond the fallout from the pandemic and are now focused on adapting to post-pandemic inflation, employee attraction and retention. and business growth in an unstable economy.
“This survey produced critical data that informs and supports GOED’s SSBCI-Technical Assistance application, which we partner with the Nevada SBDC,” said Karsten Heise, senior director of strategic programs and innovation at GOED. “It will help design an evidence-based approach to program structure and service delivery that provides technical assistance to socially and economically disadvantaged individuals and very small businesses.”
At the Nevada SBDC, hosted by College of Commerce Sponsored by the University of Nevada, Reno and the US Small Business Administration, it has provided no-cost, confidential professional consulting services to Nevada small businesses since 1985. , great advice for small business owners and prospective small business owners.
Consulting services include marketing, accounting and record keeping, loan applications, new business start-ups, capital formation, technology development assistance, business planning and more. Ninety-eight percent of all organizations in Nevada are considered small businesses and therefore qualify for Nevada SBDC consulting services.
[ad_2]
Source link
