When starting a business many think coming up with a name, developing a logo or even crafting a slogan or catchphrase is the extent of branding. The reality is, there is so much more. “It’s a mistake to think, ‘My brand is my graphic identity,’” said Flip Wright, executive vice president of strategy and innovation at Wide Awake. “That’s a very small part of the overall mix. … [Read more...]
The Business of Art: Nevada’s Cultural Scene
Twenty years ago, Nevada’s arts and culture sector was not a huge economic driver. Organizations were forming. Audiences were being sought. “There’s a group of us in this community, and in Reno, too, who all started out on the ground level, and there’s been this evolution of arts and culture [in the state],” explained Jeri Crawford, president and CEO of the Las Vegas … [Read more...]
Wealth Management: Setting and Obtaining Financial Goals
Short and long-term financial goals for CEOs, other executives and business owners might include buying a home, putting their children through college, retiring at a certain age or leaving a legacy, perhaps their business, to their heirs. It’s important for high net worth people to determine now what they’d like to achieve, develop a plan to reach their goals, write it down and … [Read more...]
The Insured State: Health Insurance in Nevada
Businesses can expect health insurance costs to continue to rise in the short term, but stabilization might be in sight. Nevada health insurance executives suggest a number of factors could indicate relief for businesses when it comes to health insurance costs in the long-term future. Following years of negative reaction to the Affordable Care Act (ACA), signed into law in … [Read more...]
Perspective Shifts: Power Poll 2018
Last year was a year of change in many ways, especially in the Silver State. With mid-term elections coming up in November and a changing of the guard in the Governor’s office, this year will shake up the status quo even more. As Nevadans look at the economic progress made since the downturn, executives on both ends of the state are hopeful. “I’ve been doing this for a long … [Read more...]
The Communications Landscape: Connectivity in Nevada
Nevada companies want to be more efficient, expedient and cost effective, and so, they’re demanding more and more out of the available technologies for communicating. Firms providing those continue to develop and offer related products and services that enhance businesses’ connectivity to not only people but, also, objects. “It’s a brave new world,” said Jace Barbin, the … [Read more...]
Wages and the Worker’s Market: Nevada Staffing
Nevada’s employment landscape is one with numerous available jobs but an insufficient number of qualified people to fill them, experts said. “It’s an employee’s market,” said Peggy Walker, referring to Northern Nevada. “If somebody’s not working, there really is no excuse. They’re able to pick and choose.” At the same time, she said, “there are not enough skilled workers.” … [Read more...]
Legal Concerns: Law Firms Today
Lawyers have always served as society’s designated worriers, but Nevada’s legal practitioners seem to be wringing their hands a little more than usual these days for several reasons. While the resurgent state economy is creating lots of opportunities, a strong economy also creates its own set of challenges. Lawyers worry about the arrival of big competitors from out of … [Read more...]
Credit Unions: The Growth of Financial Cooperatives
Even in an era filled with bright economic statistics, the mid-year report from the Credit Union League of Nevada stood out. The industry group reported that credit union deposits in Southern Nevada rose by 8 percent year-over-year while total loans were up 10 percent. In booming Northern Nevada, mid-year deposits rose 12 percent over year-earlier numbers and loans … [Read more...]
Generation Innovation: Technology Advances Nevada Economy
New, existing and relocating technology companies are making Nevada home in both metro and rural areas, bringing innovation across the board. So far, specific technology clusters have not developed. Nevada is seeing everything from bioscience to construction and telecommunications to entertainment. “In a lot of cities you have a sector that’s doing well or a place where it’s … [Read more...]
The Full Focus: Economic Development in Nevada
In 2012, The Silver State released “Moving Nevada Forward: A Plan for Excellence in Economic Development,” a three-year roadmap for continuing to advance from post-recession doldrums and a 12 percent unemployment rate toward “a vibrant, innovative statewide economy,” Gov. Brian Sandoval wrote in the document. Since the plan was released, Nevada’s leadership and … [Read more...]
Nevada’s Place Among the States 2017
Each year, “Nevada’s Place Among the States” compares Nevada to other states, competing markets and the U.S. in general, on several key measures of economic and social health. In this 11th edition of comparing Nevada to other states, statistics show that Nevada has almost fully recovered from the recession. At one point, the Silver State led the nation in foreclosed homes and … [Read more...]
Well Played: Tourism in Nevada Roaring Back
Tourism has played a vital role in the Nevada economy since Hoover Dam was new and Reno invented the quickie divorce. The travel and tourism industry generates $3.2 billion in state and local tax revenues - 26 percent of the total tax revenues in the state - and represents $19.1 billion (about 13 percent) of Nevada’s gross domestic product (GDP). Nevada jobs attributed to the … [Read more...]
Business Roots: Nevada’s Economic Development History
The Silver State has a unique origin story. Despite being much less economically viable and populated, Nevada beat out the other territories to become a state in 1864 because of its Republican and pro-Union leanings. President Abraham Lincoln fast-tracked the process, surpassing Congress, to ensure ultimately three electoral votes for his re-election and bolster Republican … [Read more...]
Diversity & Inclusion in the Workplace: Why and How
Many Nevada businesses are making an effort to hire a diverse workforce: people of different races, age groups, national origins, backgrounds and religions. Some are interested in hiring workers with disabilities and in giving women a chance to compete for typically male-dominated jobs. The impetus for these initiatives may come from recognizing that federal and state … [Read more...]
Nevada Infrastructure: Keeping Up with a Growing State
According to the U.S. Census Bureau, Nevada’s 1.95 percent population growth rate from July 2015 to July 2016 made it the second fastest-growing state in the country, slightly behind Utah’s 2.03 percent. With the state’s official population nearing the three million mark, how is infrastructure keeping up with growth? The Orange Cone Zone Some of the funding for Nevada’s road … [Read more...]
Avoiding a Business Foul: Practical Steps to Dodge Business Litigation
The best litigation for business decision makers is the litigation that never happens. Court cases are time-consuming, expensive and take a business owner’s mind off business. The best way to avoid litigation? Document everything, know your obligations and be certain your protections are in place. “It sounds a little simplistic, but I would say, know your legal obligations, … [Read more...]
Help Wanted: Fortune-teller
Planning for Business Taxes in 2017 Although Nevada has one of the most business-friendly tax environments in the U.S., business owners still have to contend with (and plan for) local, state and federal taxation. In addition, planning for taxes in 2017 is a task made much harder due to recent political and legislative changes. Not only is President Trump’s proposed tax reform … [Read more...]
On Campus or Online: Opportunities for Executive Education in Nevada
Ask the administrator of an executive education program why an individual would spend the money and take the time to earn an advanced degree in business, and the answer comes back threefold. “People are coming into the program because they are looking to move up the corporate ladder,” said Nikkole McCartin, director, EMBA program, Lee Business School, University of Nevada, … [Read more...]
Money Mastery: The Key to Successful Wealth Management in Nevada
Money may indeed be the “root of all evil”, but when the rubber meets the road it also “makes the world go round”. The challenge for many is to effectively manage assets through the various stages of life so that accumulated wealth can help meet needs along the way. While previous generations may have saved for a rainy day by stuffing money in a mattress or, more recently, may … [Read more...]
