Considerations when deciding to purchase a small business

When deciding to buy a business, prospective buyers sometimes are faced with the following dilemma: Do I buy an existing business, or do I buy a new franchise?

Some of the advantages of an existing good independent business include a proven track record of sales and profits, a well-known name and location, a strong mix of products and services, a group of knowledgeable employees, and a good customer base.

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NCET Member
Feast after Fatigue? 

If anyone gets how anxiety-inducing the pandemic has been on sales professionals, it’s this group. Unless you were manufacturing PPE products or solutions, forecasting profits was a bit like being asked to build a house’s foundation on top of quicksand. But today, things feel a little bit more optimistic and, as we look at the economic signs on our horizon, it's time to realize our marketing dollars are essential.

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2021 NCET Tech Awards nominations now open!

The NCET Technology Awards celebrate the Northern Nevada individuals and companies who have greatly enhanced the growth and prestige of technology community.

NCET will announce the Tech Award winners on June 5, 2021, and all winners honored at the NCET Awards Gala and Technology Showcase on Thursday, July 15 at the Reno-Sparks Convention Center.

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Dave Archer
Covering Your Assets: Should I kick the can on filing my tax return?

Let’s start with the good news: The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.

Individual taxpayers can postpone federal income tax payments for the 2020 tax year due on April 15, 2021 to May 17, 2021, without penalties and interest, regardless of the amount owed.

This postponement applies to individual taxpayers, including individuals who pay self-employment tax.

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NCET Biz Tips: Buying and Selling a Company During COVID

The COVID-19 pandemic disrupted many aspects of business in Nevada, including buying and selling companies. In the second quarter of 2020, deal activity in the U.S. – and Nevada – dropped by over 40% from an already record low first quarter of 2020 caused mainly by the uncertainties of COVID.

When COVID shut down a large part of the economy in March 2020, many deals already underway were abandoned altogether or put on hold. Doing deals in this current environment presents some unique challenges.

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NCET Member
NCET Biz Tips: Starting Your Nevada Business: Part 4 – Which Business Entity is Right for You?

When starting or operating a business, one of the most important decisions that you will make is what type of business entity you should choose. There are four main types of business entities—the sole proprietorship, a partnership, the limited liability company (LLC), and the corporation. Each type has advantages and disadvantages depending on the circumstances.

In Part 4 of our series, we take a look at some important points to consider when determining which business entity is right for you.

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One Year Later: Northern Nevada businesses reflect on industry shifts, lessons learned due to the pandemic

In March 2020, as the coronavirus pandemic shut down Nevada and the entire nation, we started bumping elbows instead of shaking hands.

One year later, the NNBW fielded responses from more than 20 business owners and executives in Northern Nevada to find out the biggest lessons they have learned since March 2020, and the biggest differences in how their industry now conducts business.

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NCET Member
NCET Biz Tips: The Importance of Planning for Business Crisis

Part of Jackie Shelton’s job is working with her team to help her clients identify what could potentially go wrong with their businesses. By doing this, she not only helps them anticipate and address issues ahead of time, but helps them plan for what to say if something does go awry.

And speaking of “things going awry,” we’re guessing 2020 gave you some reasons to consider doing the same thing.

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Dave Archer
Boston Dynamics’ New Robot Doesn’t Dance. It Has a Warehouse Job

It can’t do back flips like Atlas the humanoid robot, nor can it dance or open doors for its friends, like Spot the robotic dog can. Instead, Boston Dynamics’ new robot, named Stretch, is going straight to work in a warehouse. Rolling around on a wheeled base, it’s basically a large robotic arm that grabs boxes using vacuum power, and it’s designed for tasks like unloading trucks or stacking pallets.

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Dave Archer
‘SkillUp’ program helps workers pandemic-proof their skills

Some Northern Nevada workers, battered by a pandemic that has devastated the labor market and reshaped the workplace, are questioning whether to stick with their occupation or start an entirely new career. Many are strengthening existing skills or resetting priorities such as which industry they work in, where they work or their job title. Others are taking classes to add new expertise and reinvent themselves in completely different fields.

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4 steps to writing a strong elevator pitch for your business, plus exact scripts to follow

When most people hear the term ‘elevator pitch,’ they think they have at least 30 seconds, maybe more, to showcase who they are and what they do. But they’re wrong. When I first started my business, Bridesmaid for Hire, I’d find myself gushing about what I do and all the services I offer. I even tossed in a few big accomplishments and business wins. But although what I do is unique and odd to some, even I couldn’t hold people’s attention after the first few sentences.

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