As with most sectors in the financial industry, Nevada credit unions are in the midst of change. COVID accelerated multiple trends credit unions were already experiencing, many of which are tied to the growing preference of customers to use mobile banking and the resulting drop in branch visits and necessary cyber security upgrades. “It’s been really interesting,” said Diana … [Read more...] about Credit Unions In Nevada
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Keeping SafeSecurity for Today’s Businesses
Employees, customers, assets, equipment – businesses have a lot to lose to burglaries or robberies. Property damage costs add up. People can be injured. Today, with a recession looming, inflation rising and the pandemic dragging on, tempers are shorter, needs are more intense and incidents of workplace violence are rising. So, how does a business owner keep their business … [Read more...] about Keeping Safe
Wild at HeartEconomic Development in Rural Nevada
A lot of Nevada is rural. That doesn’t mean one rural community is the same as the next. Economic development in Nevada’s rural communities varies by community, location, established industries and what complementary businesses would fit with existing businesses. Another consideration is the type of businesses that could locate in the area and improve the quality of life for … [Read more...] about Wild at Heart
Nevada TaxesWill the Tax Man Cometh to Carson City in 2023?
If 2021 was a historic year for state tax reform, then what does the future hold for new business taxes or tweaks to the current tax code as Nevada voters go to the polls in November to elect a new slate of lawmakers? Those lawmakers will take office in January when the legislature reconvenes. In a major development last year, lawmakers approved a bill near the end the 81st … [Read more...] about Nevada Taxes
Executive Education in NevadaDetermining Return on Investment
Pursuing a career in business has traditionally gone hand-in-hand with a college degree. And, for those pursing a leadership role, an executive education is almost always a requirement. But times have changed and so have the requirements for success in business. While there are a variety of contributing factors, advancements in technology, a new workforce generation and the … [Read more...] about Executive Education in Nevada
Keep WatchFinancing in Nevada
Financing in Nevada is on the move and, even experts agree, where it’s headed is anybody’s guess. With the Fed recently increasing interest rates and a noticeable spike in inflation, financial experts and Nevadans alike are paying close attention. “Depending on what the two variables do – inflation and interest rates – it will have some impact on every industry. [That … [Read more...] about Keep Watch
Business FirstBuying, Selling and Running a Business
It’s no secret, running a business is challenging. For entrepreneurs throughout Nevada, navigating the complexities of day-to-day operations, as well as what to do when looking to buy or sell a business, can be overwhelming. In fact, even knowing where to start with many business matters can be daunting to the uninitiated. To help business owners and decision makers navigate … [Read more...] about Business First
A Little Foresight Goes a Long WaySuccession Planning in Nevada
No two succession plans are the same, but all of them have one thing in common – they require planning and usually years of it. “It’s really a matter of making sure everything is in place,” said Jeff Nyman, broker at First Choice Business Brokers. “[The goal] is that, when a buyer looks at that business or a family member looks at it, they are not going to say, ‘I have to … [Read more...] about A Little Foresight Goes a Long Way
Setting RecordsNevada’s Healthy Banking Industry Amidst the Pandemic
Global events like COVID send ripples through the economy which can cause uncertainty on the part of consumers and businesses. With the pandemic creating havoc for normal business operations and occurring just over a decade since the official end of the Great Recession, some economic uncertainty is to be expected. “I started with the bank 20 years ago and I came into the … [Read more...] about Setting Records
An Intellectual Property WorldDefining and Protecting Rights
“It’s an intellectual property world,” said Robert Ryan, partner at Holland and Hart. “Almost any business that you build is going to have substantial intellectual property and the proper protection of it can be essential for having something valuable.” Intellectual property, or IP, is everywhere. From websites, client lists and software to the recipe of the sodas a company … [Read more...] about An Intellectual Property World
Credit UnionsDiversifying Loan Activity
Credit unions are becoming an increasingly important source of loans for small businesses, a development that’s particularly welcome to credit union executives vexed by the need to put massive flows of new deposits to profitable use. At the middle of this year, small business loans at the 15 credit unions headquartered in Nevada stood at $640 million, a 63 percent increase from … [Read more...] about Credit Unions
Unique ChallengesRural Nevada, Housing and Innovation Zones
When it comes to rural communities, flexibility and community support are essential proponents for any business. Right now, there are a lot of interesting things happening in rural Nevada. At the top of the list is the issue of innovation zones. A company proposing to create self-governing, corporate-owned communities within thousands of acres of land it owns in a rural county … [Read more...] about Unique Challenges
Cybersecurity for Business OwnersMinimize Risk, Maximize Security
All businesses, from corporate giants to mom and pop enterprises, have data that needs to be protected. This is one instance where the size and type of a business is irrelevant. “That’s a real challenge that small businesses haven’t quite learned to cope with,” said Brian Fricke, chief information security officer, City National Bank. “You can outsource a lot of things, of … [Read more...] about Cybersecurity for Business Owners
Investment StrategiesA Guide for Business Owners
One of the top questions for business owners looking for solid investment strategies is: “Why are you in business?” That question, said Brian Loy, president, Sage Financial Advisors, applies both to why business owners get out of bed in the morning, and to one of the reasons for running a business; to make money. The answer to the question becomes one of the three legs of a … [Read more...] about Investment Strategies
Mining for TaxesRaising State Revenues in Nevada
It is well known that any debate in the Nevada Legislature over raising mining taxes has been a controversial topic since prospectors first struck gold in the 19th century. Previous efforts to raise the tax or reduce the ability of companies to deduct net proceeds have come up short. Opponents have argued successfully that any increase in the tax rate would severely … [Read more...] about Mining for Taxes