Craig's Corner - Wealth Planning Insights

Tuesday, October 18, 2016

Nevada Promotes Home Grown Goods

What incentives are available for Nevada-based artisans and craftsman?

Running a small business in Nevada comes with many challenges, particularly in bringing goods and services to the market. For those entities that actually make their products in the state, the Nevada Small Business Development Center (SBDC) has long championed manufacturers and artisans that create home grown goods.

Made in Nevada

The SBDC's "Made in Nevada" initiative has been supporting and promoting Nevada-made products for over 25 years. The entity is set up as a nonprofit and is dedicated to helping local businesses market and brand goods that are primarily grown, made or enhanced in the state. Made in Nevada is also aimed at steering local residents to support businesses in their community.

This initiative is particularly helpful to businesses that are not only selling home grown products, but also offering these goods to Nevadans, which ultimately supports the state's economy. With the support of the local community, in turn, these businesses are able to hire local residents who then continue to contribute to the local economy.

“Being able to purchase Made in Nevada products that are locally made by our crafters and artisans, as well as giving these wonderful products as gifts, provides a real kindred spirit for the local communities as well as throughout the state and beyond,” Joanne Hill, president of Made in Nevada, said.

The Nevada Brand

The SBDC initiative provides small businesses and a variety of manufacturers with cost effective membership opportunities. The benefit for members is that they can promote their goods with the "Made in Nevada" logo. As many small businesses know, branding is essential for gaining access to and maintaining a share of the market. In addition to marketing products with the logo, members in the program also derive a number of other benefits such as participation in events and trade shows, and having their products promoted in an annual catalog published by the SBDC.

The Takeaway

There are many opportunities for small businesses to succeed in Nevada and the SBDC program is among the many initiatives in the state, along with Carson City's start-up incubator which we reported on back in February. If your business has a product made in Nevada, signing up with this program can help bring your goods to the local market. At the same time, running a small business in the state comes with a number of other complexities from obtaining the necessary licenses to implementing a succession plan. By engaging the services of an experienced  business planning attorney, you can successfully navigate these challenges.

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S. Craig Stone II of Stone Law Offices, Ltd. serves clients throughout Clark County, Southern NV, Las Vegas, Henderson, Boulder City, North Las Vegas, Summerlin, Carson City, Reno, Washoe County, and Nye County. Also serving clients with asset protection nationwide.

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