This week in Reno, Nevada, the community is coming together to celebrate National Small Business Week. This annual event serves as a reminder to recognize and appreciate local entrepreneurs who have worked hard to make their dreams a reality. Nevada’s Small Business Development Center (SBDC) has been instrumental in providing valuable resources to these business owners at all stages of their journey, from just starting out to growing and developing their businesses further.
Winnie Dowling, the Executive Director of Nevada’s SBDC, recognizes the risks involved in starting and running a small business. She emphasizes that it is not for everyone, but for those brave enough to take on the challenge, there are many resources available to help them succeed. The Lending Tree reports that Nevada ranks 5th among all states for the highest rate of small business failures, with nearly 30% of small businesses failing within the first year of operation. This is higher than the national average of 23%. One of the main reasons for these failures is a lack of understanding of important business aspects such as competitive advantage, financial tracking, and cash flow management.
June Gronert, owner of Iconic Things, shares her experience of starting a business without a background in retail and having to learn about licensing and tax IDs. Despite facing challenges such as adapting to inflation and finding new customers while securing funding, Gronert found her passion for crafting handmade vintage jewelry and repurposed ornaments after retiring seven years ago. Gronert encourages aspiring entrepreneurs to take small steps and test their ideas before fully committing. She emphasizes the importance of perseverance and determination in overcoming obstacles that come their way.
Small business owners face many challenges but with determination and perseverance they can overcome them all
