NCET Biz Tips: Starting Your Nevada Business: Part 5 – Finding Money to Start Your Business

Once you know that you definitely want to start a business, and you have a plan, a description, your business name and your legal entity, you’ll want to find the money to start your business.

In Part 5 of our series, we look at the numerous funding sources that you can approach including family, friends, business partners, shareholders, lenders – both large and small – and specialty funding for disadvantaged and culturally different businesses.

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NCET Biz Tips: 3 Simple Ways to Put the Human Touch on Your Hiring Process

It’s been said that you only get one chance to make a good first impression, yet companies seem to be forgetting this very concept when it comes to their recruiting process. Job seekers are becoming more and more frustrated with their experience, often describing the hiring process as heartless, inconsiderate, and disconnected. Is that the first impression and brand image you want to convey to prospective employees?

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Preparing your business for ‘recovery’ success

As the distribution and availability of the COVID vaccine increases, there is a lot of optimism and hope that much brighter days are ahead. Anyone who owns a business clearly understands how incredibly challenging it has been over the past year.

With that in mind, it makes sense for small business owners to take a moment and make sure they are well prepared for the economic recovery, which forecasters tell us is in the works.

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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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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 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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