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
Feature Story
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
Help Needed!Employment in Nevada
Something big is going to happen to employment in Nevada in September. No one is entirely certain what’s going to happen, and experts aren’t certain how it’s going to unfold. One thing everyone agrees on is that it’s going to be big. Why? September marks the end of supplemental unemployment benefits funded by the federal government as part of its pandemic-recovery packages, … [Read more...] about Help Needed!
Event Planning and COVIDTransforming Events Today for Tomorrow’s Market
Some of the top trade shows and conventions in the country happen in Nevada. With an economy that relies on and excels at hospitality and tourism, it’s a good mix. In 2019 there were an estimated 43 million visitors to southern Nevada, with 6.6 million there to attend a meeting or convention. The economic impact of the industry was $11.4 billion. “As much as people think of … [Read more...] about Event Planning and COVID
Business Survival VS. Pandemic DestructionBankruptcy in Nevada
For Nevada businesses struggling to survive during the coronavirus pandemic, bankruptcy may end up being the only way out. While overall filings nationally were up 20 percent last year, according to bankruptcy court records, the number of businesses in the state that filed Chapter 11 bankruptcy, which involves reorganizing and remaining in operation, have remained relatively … [Read more...] about Business Survival VS. Pandemic Destruction
Education OutlookBig Issues and Hard Work for K-12
A whiteboard on the wall in the office of Dr. Kristen McNeill reminds visitors — and McNeill — to exercise patience and grace each day. The message is likely to be needed in coming months as schools around Nevada work through a multitude of issues to get on their feet after the COVID-19 pandemic, said McNeill, superintendent of the Washoe County School District (WCSD). “We’re … [Read more...] about Education Outlook
Litigation in a Changing WorldWhat Business Owners Need to Know
“I don’t think there is such a thing as being safe from being sued,” said Samuel Schwartz, principal, Schwartz Law. “In today’s environment, the bar to bring litigation is so low that to try to completely protect yourself from litigation as a business would likely be a waste of resources.” Best Practices Maybe lawsuit-proof doesn’t exist, but business owners can and … [Read more...] about Litigation in a Changing World
Daunting ChallengesMedical Education in Nevada
Learning that their state continues to provide far too few doctors, nurses and other medical professionals to serve its fast-growing population, Nevadans sometimes ask Debera Thomas why she doesn’t simply add more classes at the Orvis School of Nursing at the University of Nevada, Reno. If only it were so easy. Thomas, dean of the Orvis School, and her peers in medical … [Read more...] about Daunting Challenges
Qualified Borrowers WantedCredit Unions Focus on Lending
Even the owner of the tiniest shop knows this feeling: The shelves are full of brand-new inventory, but buyers are slow to take advantage, even after some aggressive price-cutting. Credit unions across Nevada find themselves in a similar boat these days. Inventory, which for them is money available to loan, has been pouring into credit unions for the past six months as … [Read more...] about Qualified Borrowers Wanted
Legal Opinions 2020Expert Knowledge for Nevada Businesses
Legal Opinions, a Nevada Business Magazine annual feature for nearly a decade, is a compilation of expert knowledge on a variety of topics. Written by attorneys, all of whom are highly educated on their featured topic, this special report is a one-stop resource for executives. Articles in the 2020 edition of Legal Opinions range from marijuana to politics and … [Read more...] about Legal Opinions 2020
Private Education in NevadaOperational Changes
Parents in the U.S. have the right to choose the best form of education for their children. Choices include public and private schools, religious-affiliated and independent schools. According to the Nevada Department of Education (DOE), northern Nevada has 39 private schools with 4,012 students attending. Southern Nevada has 90 with 15,473 students enrolled. The student to … [Read more...] about Private Education in Nevada
Insuring BusinessGuidance Through Catastrophic Times
With a variety of product types depending on a business’ industry and needs, insurance can be confusing for many business owners and executives. “The reason you’re buying insurance is to provide protection from claims,” explained Brad Pearce, chairman, A&H Insurance. “So you want an insurance carrier that provides excellent claim service and excellent coverage.” That … [Read more...] about Insuring Business