Future is bright for Nevada small businesses

Nevada’s economy is on an upward trajectory, and with the help of the holidays, the community can help contribute to its positive economy by shopping and dining at local, independently owned small businesses.

During these holiday months, small businesses make a last end-of-year effort to sell their goods and services. We can support them not only during Small Business Saturday, recognized Nov. 26, but during the entire holiday season.

Nevada’s September unemployment rate of 4.4% is great news; just a year ago, it was 5.6%. Two years ago, hundreds of thousands of small businesses closed, but thanks to President Joe Biden, we are seeing a historic economic comeback.

The strength of Nevada’s job market proves our economy can tackle today’s challenges, such as high inflation. In the third quarter of this year, inflation slowed, with energy prices coming down — and that’s good news for everyone, not just small businesses.

This fiscal year, $429 million in loans backed by the Small Business Administration were funded to Nevada entrepreneurs starting their own businesses or expanding so they can grow their small business and stimulate local development, at rates typically below the market.

Small-business owners generate two of every three net new jobs. When small businesses invest in their business, they’re creating local jobs and investing in their local economy. In addition to Sba-backed loans, the Nevada Governor’s Office of Economic Development (GOED) International Trade Division received a $500,000 grant from SBA for the State Trade Expansion Program (STEP) to assist Nevada’s small businesses with the opportunity to sell their services and products to 191 countries.

If you are thinking of starting a business, expanding your business or taking your business to the international market, here is a list of 10 SBA resources to assist yu in your journey.

■ Women’s Business Centers assist women in starting and growing small businesses. They provide a full range of services for women entrepreneurs at all stages of planning, implementation and growth.

■ Small Business Development Centers offer free, one-on-one counseling and lowcost training services. Business owners can get help with procurement and government contracting opportunities, market research and more.

■ Government awards a certain percentage of all federal prime contracting dollars to small businesses that meet certain socioeconomic conditions. Learn more about women-owned business certification, small disadvantaged business, veteran-owned small business, and small business in a HUBZONE by visiting Sba.gov.

■ The Mentor-protégé Program is designed for small businesses to learn from an experienced government contractor.

■ Export Assistance Centers help small businesses entering the international marketplace. Entrepreneurs can learn how to export, participate in foreign trade missions and trade shows, translate websites, and design marketing campaigns.

■ Sba-guaranteed Loans can be used for most business purposes, including operating capital, and financing equipment and other long-term fixed assets. Some loan programs set restrictions on how the funds can be used, so check with an Sba-approved lender when requesting a loan.

■ SCORE is a network of thousands of volunteer business counselors around the country who mentor and educate small-business owners. SCORE provides free in-person and online counseling as well as educational workshops.

■ Boots to Business is an entrepreneurial education and training program available to active duty service members (including National Guard and Reserve), veterans and their spouses. Sba.gov includes online resources and information about upcoming webinars to assist entrepreneurs with overcoming common business challenges.

■ SBA district offices can connect entrepreneurs to local SBA resources, mentors and training.

These and many other SBA resources are available online at Sba.gov.