Small businesses have been the backbone of the United States’ booming economy for a number of years. Most of them start with a dream, a lifelong ambition of an aspiring entrepreneur that wants to do something they are passionate about. This often translates into a small business.
Nevada is no stranger to businesses, whether that’s on a big or small scale, with many labeling Nevada consistently one of the top 10 most business-friendly states.
The Grand Canyon State has been a consistent and huge contributor to the United States’ incredibly powerful economy. Over the past several years, in particular, Nevada has been a business-friendly state that is known for its low-regulation environment, streamlined licensing and approval processes, and a favorable tax environment for businesses.
Number of Small Businesses in Nevada
So, how many small businesses are there in Nevada? There are 283,333 small businesses in Nevada, according to the latest figures (2020) from the SBA.
It is not just Americans and locals starting small businesses in Nevada. The state is a huge attraction for international entrepreneurs and foreign-born people, with a significant number of immigrant entrepreneurs that have decided to call Nevada their place of business.
There are 43,704 immigrant entrepreneurs in Nevada that account for 30% of all self-employed Nevada residents.
The following graph shows the number of small businesses in Nevada in 2016, 2017, 2018, 2019, and 2020.
Of the 283,333 small businesses in Nevada in 2020, there is a wide array of different enterprises from small, one-person sole proprietorships or LLCs to much larger businesses with several hundred employees. If you want to join the 283,000-plus small businesses in Nevada, it is fairly easy to register a business in Nevada.
Let’s take a deeper dive into the number of small businesses in Nevada by looking at the top industries, small business owners, employees, and more!
Latest Small Businesses Statistics in Nevada
- Small businesses equate to over 99.2% of all businesses in the state.
- There are 503,144 small business employees in Nevada, which is 42.2% of the states’ employees.
- In 2019, Small Businesses in Nevada added 30,054 new jobs!
- Small businesses employing 20-99 employees created the most job gains!
- There are 52,451 self-employed minorities in the state demonstrating the diversity in Nevada.
- International trade in Nevada is quite strong and there are 2,901 small business exporters.
- There are more professional, scientific, and technical service firm small businesses in Nevada than any other type – 40,243.
- Real estate, rental, and leasing services make up the 2nd largest number of small businesses in Nevada – 33,853.
How Many Small Businesses in Nevada?
Over 283,333 is a lot of small businesses to be registered in a state that isn’t exactly well known for having a large population size (33rd most populous). Compared to the rest of the U.S., the total number of small businesses in Nevada is 0.89% of all U.S. businesses. There are 31.7 million small businesses in the U.S.
The number of small businesses in Nevada has been growing quite impressively over the past several years.
- In 2017 there were 246,569 small businesses, which increased to 254,337 in 2018 (3.15% increase).
- In 2019 there were 270,079 small businesses which were 15,742 more than the state had in 2018 (6.18% increase).
- In 2020 small businesses in Nevada hit 283,333, as the number increased from the previous year by 13,254 (4.9% increase).
So, with the benefits offered to small businesses in Nevada, it is no wonder so many decide to call the state their new home of business, despite the population and state size being smaller than most. Nevada is a state to visit and an astonishing place to live.
Nevada offers plenty to small businesses and aspiring small business owners from all over the world, this is due to many different factors, with the more notable being no corporate income tax, easy access to massive consumer markets, and a collaborative environment for small businesses in any industry. Nevada is also known for having no income tax.
If you would like to download the latest 2020 Small Business Profile on Nevada from the U.S. Small Business Administration, Office of Advocacy, the Profile can be downloaded here.