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Nevada Small Businesses Confident In State’s Economy

LAS VEGAS (KXNT) – Small business owners in the Silver State are upbeat about Nevada’s economy, according to a recent survey.

68.9 percent of small business owners surveyed believe the U.S. economy is headed in the right direction and 77 percent believe Nevada’s economy is trending upward and in the right direction.

The state-wide survey released Monday was done by Las Vegas-based research firm Applied Analysis, and was conducted in December 2016 just after the November election on behalf of Nevada State Bank. The bank surveyed more than 400 small business decision-makers, including owners, operators and management executives representing businesses with annual sales ranging from $250,000 to $10 million.

“In the four years we’ve been collecting data, we’ve never seen such optimism,” said Terry Shirey, President and CEO of Nevada State Bank. “From an historical perspective, the percentage of businesses that believe the national economy is headed in the right direction has jumped from 35.5 percent in 2014 and 40.5 percent in 2016, to 68.9 percent today. That optimism spurs employment throughout the state, with 35.8 percent of businesses reporting they plan to increase their number of employees in the next 12 months, up from 23.9 percent in 2015 to 26.8 percent last year.”

Regionally, Southern Nevada business owners were asked about a proposed pro football stadium near the Las Vegas Strip and the Las Vegas Convention Center expansion.

More from Fred Halstied
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