Small businesses are an important element to the workforce as they provide employment in every industry and in every role from entry-level jobs to executive positions. However they were one of the hardest-hit segments during the recession. But a new report by the Nevada Department of Employment, Training and Rehabilitation has good news for small businesses.
The report shows a pattern of positive growth in the small businesses sector that is contributing to an improved jobs outlook.
After hitting a low in 2010 employment at small businesses has risen for nine consecutive quarters. Nevada chief economist for the Department of Employment, Training and Rehabilitation, Bill Anderson said the numbers look promising.
“I’ve been struck by some media reports which have surfaced recently suggesting that small business hiring trends within Nevada are on the decline,” Anderson said. “The fact of the matter is, based upon publicly available information, it is just the opposite is true.”
“The bottom line is that employment in Nevada’s small businesses with less than 100 workers has been on the mend for more than two years,” Anderson said. “This is not to say that Nevada’s small businesses are problem-free and are not facing challenges. As the overall economic recovery moves forward, many hurdles are sure to present themselves.”
Another indication that small businesses are bouncing back, in the past 10 months, local banks in conjunction with the U.S. Small Business Administration granted 353 loans worth $152,331,200 to small businesses.
When you think of employers in Las Vegas, you typically imagine large ones like casinos and hospitality companies. While those industries are a dominant force, there are many small businesses that support these industries and their employees. From restaurants to accounting firms, Nevada’s small businesses employ over 535,000 people and in the last quarter of 2012; 14,500 jobs were added by small businesses with that trend expected to grow.
Christa Emmer is a graduate of the University of Nevada, Las Vegas in broadcast journalism. She has experience as a news writer, editor and producer in television news. Christa has been a Las Vegas resident for more than 20 years. Follow her on twitter @ChristaEmmer. Her work can be found at Examiner.com.