Nevada Power Poll 2014

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The Power Poll is a survey hosted by the Nevada Business Magazine in which business owners and company executives pitch in their opinions on issues surrounding business in Nevada. It’s a great indicator of what’s going on in the Nevada business community, to see how well things are working and to gain an overview of the state’s business activity. It also points to the future of business in Nevada.

2014’s poll is the 12th since its conception and the concluding sense appears to be optimism; the global and national recession is fading away with strong economic recovery, sales are on the up, and the business rebound is well underway. Much of the commentary was provided by businesses that had been operational in the state for more than ten years and followed the state’s population density.

The end of the recession has been a huge boost to companies in Nevada and throughout America. Executive director of the Northern Nevada Development Authority (NNDA) Rob Hooper said, “We’re seeing new retailers coming in and companies expanding. Unemployment is going down. Every place you look, everything is going in the right direction.”

95% of poll participants agreed that Nevada’s economy is doing as well as or even better than this time last year, demonstrating an upturn in the state’s economy – a trend that executives and business owners hope will continue.

Individually, 56% of poll participants were optimistic about their businesses, stating that they were doing equally as well if not better than last year. A further 70% said that they expected their business’ bottom line to be improved on last year’s.

Employment in Nevada is another positive aspect, with many companies taking on new staff or looking to do so in the near future.  71% of poll participants said that they had not made any staff reductions in 2013. The employment level seems to be on the up and staffing levels in Nevada are steadying, although the results of the U.S elections in November could affect this.

Overall the Power Poll indicated that business owners and company executives felt that Nevada is a business-friendly state, with accessible incorporation processes and manageable bureaucracy on both a local and state level. Many businesses agreed that they supported the state’s infrastructure and tax regime, as well as advocating business relocation to Nevada. Getting the inside track and knowing that real Nevadan business owners are happy with the state’s business community is a huge promotion for the state and to future businesses looking to move or set up there.

To see the full Power Poll report, click here to visit the Nevada Business website. Alternatively, contact us for further information about setting up a business in Nevada.