Jeremy Aguero, a principal of Applied Analysis and one of Nevada’s most respected economic analysts, sat down with Small Business Manager Jana Benton to provide additional background and bring viewers up to date on issues featured in the 2016 Small Business Survey Report. In this first video, they discuss some of the major concerns and challenges faced by Nevada small business owners and provide insights on the outlook for 2016 and beyond. Click below to see the other three videos in this series.
Have You Downloaded Your Copy of Our Small Business Survey?
Do you think Nevada’s economy is finally headed in the right direction? More than 61% of the business owners and managers we surveyed would agree with you. Nevada State Bank’s third annual Small Business Survey asked questions like this to get valuable insights into what Nevada business people think about important issues and how they plan to deal with them.
As part of our ongoing commitment to helping Nevada companies thrive and grow, Nevada State Bank surveyed more than 400 small business owners and decision-makers throughout the state, representing businesses that generate between $500,000 and $5.5 million in annual revenues.
As 2016 brings both opportunities and challenges to Nevada’s small business sector, the information and analysis in this report can help you reflect on previous years, follow trends, and make strategic plans for the future.
The 2016 Small Business Survey is available as a free download. Just click on the image to the right.
Here are just a few of the survey results:
Attracting new business and new customers was cited as the most important challenge facing small businesses.
The vast majority of respondents (80.6%) are concerned about healthcare costs impacting their business.
More than one in five small businesses say they plan to expand in the next 12 months, an increase from last year.
While more than 38% say they have fully recovered from the Great Recession, more than half say their company is still in recovery mode.
The employment picture remains stagnant, with about 70% of respondents reporting that they had no plans to increase their workforce.
New this year were questions surrounding community involvement, charitable giving, and employee volunteerism. The survey found that more than 80% of small businesses give back to their community in some manner.
We’re happy to share these survey results – and much more – with you. Click below to download the 2016 Small Business Survey for all the research, trends and analysis.
To learn more about how we can help your company open the door to a bright future, drop by any Nevada State Bank branch, visit us online at nsbank.com/business, or call us at 800-727-4743.
Would you like to compare this survey to previous years? Download our previous surveys by clicking on the images below.