Las Vegas is and has always been a city that thrives on creation. Since its beginnings in 1905, Las Vegas has possessed an opportunistic strength that has propelled it from ordinary to extraordinary. Las Vegas’ ability to survive and thrive in all economic conditions is based on the abundance of available resources and the contagious spirit of entrepreneurship and determination exhibited by Las Vegans. As for quality of life, the region provides the best of many worlds. Las Vegas mixes a pro-business economy promoted by the Las Vegas Chamber of Commerce with never-ending entertainment, sophisticated cuisine and vibrant sunsets to create a one-of-a-kind environment. Despite a slow national economy, Las Vegas continues to garner top-rankings for its pro-business environment, making it a haven for small business owners. This chapter was designed to give you an overview of what it takes to launch a new enterprise in the Silver State.
One of the most important things aspiring business owners can do to develop direction is to write a detailed and thorough business plan. One of the biggest myths about entrepreneurs is that they love to take risks. The truth is that most self-employed business owners know how to calculate the risks and, thus, view them as opportunities. The following steps should be taken when drafting a business plan:
It is important to note that a business plan can’t be just fluff. Tested information and realistic ideas should be the basis of the document. There is no clear-cut length or style, but a business plan should include the following items:
All employers must verify the employment eligibility of every new employee, including U.S. citizens and lawful permanent residents, by completing and maintaining on file a copy of the Form I-9. Under the Immigration and Nationality Act, employers may hire only persons who may legally work in the United States (i.e., citizens and nationals of the U.S.) and aliens authorized to work in the U.S. Employers must keep each I-9 on file for at least three years, or one year after employment ends, whichever is longer. For more information, visit http://www.dol.gov/compliance/guide/aw.htm.
The Wage and Hour division of the U.S. Department of Labor administers laws pertaining to minimum wage, child labor and payday law provisions. For more information, visit www.dol.gov/esa/whd or call (866) 487-9243.
The U.S. Equal Employment Opportunity Commission (EEOC) enforces laws that prohibit discrimination in employment on the basis of race, color, sex, religion, national origin, age, disability or in retaliation for opposing job discrimination, filing a charge or participating in proceedings under the law. Equal employment opportunity laws generally extend to applicants and employees of most public and private employers with 15 or more employees. The EEOC offers a voluntary mediation program as an alternative to the traditional investigative or litigation process. Mediators are bound by confidentiality provisions and may not provide information about the mediation to the EEOC investigative staff if the matter is referred for investigation. Visit www.eeoc.gov for more information.
Unless excluded by statute, it is mandatory for an employer who has one or more employees to provide workers’ compensation insurance coverage. Some employees are excluded by NRS 616A.110 due to unique criteria. The Division of Industrial Relations, Workers’ Compensation Section (WCS) is responsible for ensuring all employers are in compliance with the law. Employers who do not provide workers’ compensation will be charged with an administrative fine up to $15,000; appropriate premium penalties; may be ordered to close business until insurance has been obtained; and will be held financially responsible for all costs arising from a work-related injury. In addition, the uninsured employer may be subject to a criminal penalty for claims resulting in substantial bodily harm or death. The following is a compliance checklist supplied by the state of Nevada Department of Business and Industry Division of Industrial Relations for employers:
Businesses operating in Nevada are among the least taxed in the nation and are eligible for many incentives and rewards based on job growth. The following taxes are not imposed on Nevada businesses:
Las Vegas is a business friendly town and offers a plethora of business service providers that are geared toward corporate enterprises. The Las Vegas Chamber of Commerce is the chief business-building organization in Nevada and can help guide you through the steps of starting a new business.
Click Here for a complete list of Las Vegas Chamber of Commerce member providers.
Las Vegas has several commercial utility providers that offer services to businesses of all sizes:
www.NVEnergy.com Efficiency is a top priority for every business. Energy costs affect every facet of business, and uninterrupted delivery of reliable energy is one key to your success. In addition to behind-the-scenes work, like strategic buying of contracts to lock in lower rates for years to come, NV Energy is behind you with their customer service representatives. They’re on-hand to answer your everyday questions and to assist with your toughest energy problems. Whether you want to explore the payment options that best fit your business needs or learn about rebate and conservation tip, NV Energy is a partner in your business.
www.swgas.com Southwest Gas Corp. is principally engaged in the business of purchasing, distributing and transporting natural gas to residential, commercial and industrial customers in the Southwestern United States. The company has approximately 2,400 employees who serve more than 1.8 million customers in Arizona, Nevada and portions of California. The company added 6,000 customers in 2008 alone. An investor-owned utility, Southwest Gas shares are traded on the New York Stock Exchange.
www.cox.com/LasVegas Cox Business excels at helping businesses of all sizes achieve greater efficiencies by providing scalable solutions that fit an array of commercial, retail, school and government applications. Need phone service? Cox Digital Telephone is a full-fledged, facilities-based telephone company. What about important tangibles, like front office and back office support, quality of service, network uptime and maintenance response? Cox Business has a reputation for quality service. The company is a recipient of the J.D. Power and Associates award for the national business data study for small/midsize businesses. Learn more about Cox Business by calling (800) 409-3082.
www.telepacific.com For more than 10 years, TelePacific has provided service to more than 50,000 business customers in Las Vegas. With local sales and support, TelePacific employs more than 300 Las Vegas residents, keeping your dollars within the local economy. Known for its customer service excellence, TelePacific will provide your business with dedicated service and support that is second to none. Unlike residential services, business service can take several weeks to install, so plan early and call TelePacific for your business consultation and quote. Waiting until you move may cost your business valuable time, resources and money scrambling for the right solutions.
www.centurylink.com EMBARQ was acquired by Centurytel in July 2009 to create a stronger, more efficient and competitive company, with operations in 33 states, approximately 7.5 million access lines and more than 2.1 million broadband customers.
www.snwa.com Located in the Mojave Desert, Southern Nevada strives to maintain a sustainable supply of water through a series of aggressive conservation programs and restrictions on water use. In support of the Southern Nevada Water Authority’s (SNWA) Drought Plan, local city and county governments have adopted various restrictions to help curb water use during drought conditions. These include limits on the amount of grass allowed in new residential front and backyards, golf course water budgets, and limits on the use of fountains and water features. In addition to drought maintenance, the SNWA offers numerous resources, services, programs and information to help you save money and live “water smart.” Among these are cash rebates that encourage residents to remove thirsty grass and replace it with desert-friendly plants, trees and shrubs; qualifying residents receive $1.50 for each square foot of grass converted to water-efficient landscaping. The SNWA also offers rebate coupons for discounts on car washes that recycle water and pool covers that reduce evaporation. More information on these and other water conservation programs and policies is available at www.snwa.com, or by calling the SNWA’s Conservation Helpline at (702) 258-SAVE.
As one of the most business-friendly states in the nation, Nevada is home to numerous government and nonprofit agencies and organizations that are devoted to helping small businesses succeed. Following is a brief overview of these agencies, provided by NCET (Nevada’s Center for Entrepreneurship and Technology) CEO Dave Archer:
www.expand2nevada.com/globaltrade.html GTI programs are aimed at helping businesses expand into international markets. GTI offers programs designed to assess your readiness—and potential for success—in exporting products or services. GTI’s services can also be used by existing exporters to enter new or unfamiliar markets. GTI can assist with International Trade Shows and Trade Missions, and it maintains a network of nine international trade representative offices throughout the world.
www.mapnv.com MAP works directly with Nevada companies to strengthen their global competitiveness by providing information, decision support and implementation assistance in adopting new, more advanced technologies, techniques and best business practices. MAP helps companies to streamline operations, apply the most up-to-date and sophisticated technology, provide managerial assistance and train the workforce.
on Economic Development www.Expand2Nevada.com The NCED’s mission is to maintain a diverse economic base, ensure a healthy economy through quality jobs and competitive wages, and provide a quality of life that attracts and retains businesses. NCED programs are designed to remove barriers and help businesses achieve success. Whether your company is entering the global market for the first time or you’re an experienced exporter, NCED will provide the help you need to grow your business and market your products and services to national and international audiences.
www.NCET.org NCET’s programs encourage Nevadans to start businesses, and connect them to the resources they need to succeed. NCET hosts annual Entrepreneur Expos; the annual Silver & Gold Venture Capital Conference, which provides increased access by Nevada companies to risk capital and is designed as a forum for sharing knowledge and building relationships; and the Donald W. Reynolds Governor’s Cup Collegiate Business Plan Competition, which encourages Nevada’s university and college students to consider entrepreneurship as a career option and gives students real-world business planning experience. NMI - Nevada Microenterprise Initiative www.4microbiz.org NMI provides tools to assist businesses in overcoming barriers they may face in starting or expanding a company. NMI offers business training, business loans and great networking opportunities.
www.NSBDC.org NSBDC provides an abundance of free and low-cost information, assistance, counseling and training for Nevada’s businesses.
www.expand2nevada.com/procurement.html POP works to increase the flow of contract dollars to Nevada businesses by providing the necessary training and technical assistance to find, bid on and acquire federal, state and local contracts. Many businesses consider the idea of selling their products or services to government much too complicated and overwhelming. POP helps simplify the process and cuts through the red tape, connecting Nevada businesses with lucrative opportunities.
www.sba.gov The SBA helps Americans start, build and grow businesses, and provides SBA-backed loans, government contracting opportunities, disaster assistance and training programs to help businesses succeed.
www.score-reno.org/sr/ SCORE is a nationwide organization of active and retired businessmen and women who volunteer their services to assist small businesses and people who want to go into business for themselves. More than 30 volunteer counselors provide free business counseling, free orientation workshops, and low cost seminars throughout Nevada. SCORE also provides crisis management assistance for businesses at-risk for closure.
Las Vegas continues to garner national recognition for our business climate and quality of life factors. Some recent accolades include: A new 2009 report from the American Legislative Exchange Council places Nevada among the 10 states with the best economic outlook, thanks in part to our tax rates and pro-business regulatory regime. Nevada has no personal or corporate income taxes and no estate tax, and our property taxes rank as the nation’s 16th lowest. Bizjournals.com named Las Vegas the best place to “weather the current economic storm” because of its broad-based record of economic expansion. Las Vegas was among the three fastest-growing markets in population, employment and income during the past five years, the only metro area to perform well in all categories. The Small Business and Entrepreneurship Council has given Nevada high praise in recent years in a number of categories. This year, Nevada was the second-highest ranking among all states in an annual report that rated areas based on their friendliness to small businesses, and second in the most recent “Small Business Survival Index,” which ranks states according to their overall public policy climate for entrepreneurship. A new portal from the Nevada Secretary of State’s Office provides a running commentary about Nevada’s continually evolving list of superlatives, as well as provides a host of information on doing business in Nevada. Visit www.whynevada.com for more information.
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6671 Las Vegas Blvd. South, Suite 300, Las Vegas, NV 89119
Phone: (702) 641-5822 Info Center (702) 735-1616 Fax: (702) 735-0406