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Nevada is small business

Jason Frierson
Jason Frierson
Kate Marshall
Kate Marshall
Opinion
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The Nevada Legislature building

Nevada small businesses have it tough. Only half of new startups survive their first five years in business, even in normal times. Larger, more established firms have easier access to banks and investors, while most small businesses lack this access to financial resources. Even if they are more flexible, small firms are more vulnerable to unexpected economic downturns. 

For small businesses, especially new startups, it can be a challenge dealing with the requirements of city, county, state, and federal governments. There are licenses to get, regulations to follow, and taxes to pay; even knowing who to ask to solve problems can be time consuming and difficult. 

The pandemic has made these problems even more acute. The federal government funded programs to help businesses weather the storm, but many small businesses have been unable to take advantage of them either because they didn’t know they qualify or they didn’t know how to gain access. Even with CARES Act support, over 35 percent of Nevada's small businesses have closed their doors this past year. 

We want to support our small businesses so we have sponsored a bill to create the Office of Small Business Advocacy. The intention of AB 184 is three-pronged: to provide Nevada's small businesses somebody to call when they need assistance, to help these firms access the various relief programs related to COVID-19 as we work to restart our economy, and to collect information on the kind of obstacles our small businesses face so we can recommend improvements to the services state and local governments provide. 

Small businesses are essential to Nevada's economy. The Census Bureau reports that 14 percent of Nevadans work in businesses employing fewer than 20 employees, and these businesses account for 83 percent of all firms in our state. These firms are often the first steps up the economic ladder for immigrants, women and people of color. In fact, per the 2019 State of WomenOwned Business report, the number of women-owned businesses increased 21 percent from 2014 to 2019 and businesses owned by women of color grew 43 percent. 

The office created by AB184 will serve as a direct resource for small businesses, providing one-to-one case management to help Nevada's small businesses navigate government rules and regulations, assisting them in problem solving, and connecting them with the resources they need. The advocate would also give small businesses a voice in state government, collecting information on the problems Nevada's small businesses face, and bringing this information back to the Governor and Legislature so roadblocks can be removed and services improved. 

The governor's recent economic recovery plan emphasized Nevada's strengths: our pervasive small business ethic, our frontier spirit, and our enterprising migrants. Nevada small businesses are often the core of our communities. Hanging out near South Main and East California Avenue in Las Vegas, walking through Reno's midtown, or wandering along Elko's Commercial and Silver streets, one can see small business owners invested in their neighborhood in a way that cannot be replicated by large corporations or franchises. Entrepreneurship strengthens our communities and stokes innovation. 

The governor's plan is also clear that the losses suffered by Nevada's small and medium enterprises threaten to delay a strong recovery in our state. In recent years, women-owned and minority-owned businesses have experienced some of the most significant gains. Prior to the pandemic, Nevada ranked within the top 10 states for fastest growth rate among women-owned businesses, and has one of the highest rates of minority business ownership in the nation. We must maximize access to resources and support for all small business owners, especially women and women of color, so that our small businesses not only reopen, but thrive. AB184 is an essential component to ensuring that Nevada continues to foster an environment equipped for both risk and resiliency as we move through recovery and beyond this pandemic. 

An advocate for small business is an important and necessary step to ensure the long-term growth and resiliency of our small businesses.

Jason Frierson has served in the Legislature as Assembly speaker since 2016. Lt. Gov. Kate Marshall took office in 2019, and previously served as state treasurer.

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