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In the 9th annual Nevada State Bank Small Business Survey, the majority of businesses are predicting that their business will return to normal by the end of 2023. This year’s report reflects that Nevada’s business environment performed a little less favorably than anticipated, but nearly 78 percent of respondents believe it will improve or stay the same in 2022.

Other highlights include:

  • More than 1 in 4 businesses reported Nevada’s business environment got better over the past year.
  • More than 42 percent of respondents increased business sales and revenues over the past year, and roughly 1 in 3 reported increased profitability.
  • More than 80 percent of small businesses experienced supply-chain challenges or delays in 2021, and the majority expect these issues to continue to impact their businesses during 2022.
  • Hiring and retaining quality workers remains the single most important challenge small businesses face, with 37.7 percent of businesses reporting this as their top challenge, a 16 percent increase from 2021.
  • Of small businesses that felt they were not yet operating at pre-COVID-19 levels, most predicted it will take about 2 years for their business to return to pre-COVID-19 levels.

Find more insights from your fellow Nevada business leaders about the recovery, employment, supply chain challenges and more in the 2022 Small Business Survey report.

Click here to download the report and read more.

 


Click on an image below to view previous Nevada State Bank Small Business Surveys:

2021 Survey Screenshot  2020 Survey Screenshot  2019 Survey Screenshot  2018 Survey Screenshot  2017 Survey Screenshot    2016 Survey Screenshot2013 Survey Screenshot  2013 Survey Screenshot