For small business owners, it may be easy to see the external threats to your business: competitors in your market, disruption in your supply chain, property damage, etc. But it can be more difficult to see internal threats to your business. As busy days take over and the business starts to grow, paying attention to a few key things will save a small business time and money in the long run.
With the start of the New Year, historically there is an increase in individuals looking to start new businesses. The Nevada Small Business Development Center (Nevada SBDC) sees a spike in requests for counseling each year during this time. In fact, January 2015 had 33 percent more new clients than any other month of the year, with the total for January and February accounting for almost 25 percent of all new clients for the year.
Reno-Sparks will always have chain stores. Locally owned stores are another matter. Their presence is not guaranteed. “If everything is turned into a chain, we turn into a cookie-cutter city,” said Dave Asher of Buy Nevada First. “We would lose our local flavor, our local character, our local identity and end up looking like every strip mall in California.”
Their success strengthens the whole community. But because chain stores have advantages due to their size and regional or nationwide presence — often lower prices and always bigger advertising budgets — they can easily cause problems for small businesses.
A Nevadan needs $120,000 to open a used sporting goods store but can’t get a loan from a bank. Either he gives up the idea or resorts to creative financing, if possible. In the end, he puts up $40,000 of his own money, gets his landlord to cover $15,000 of tenant improvements, and obtains a […]
Even when construction was roaring in western Nevada, Judy and Jerry Brooks could see that printed blueprints weren’t likely to continue driving growth of Nevada Blue, the reprographics company they launched in 1992. The recession, which drove the company’s sales back to levels they hadn’t seen since 2003, threw a spotlight on the couple’s need […]