Nevada small businesses face funding and marketing hurdles in 2024 survey

RENO, Nev. — The 2024 Nevada Small Business Challenges Survey has revealed that funding, marketing, and inflation remain significant challenges for small business owners across the state.

With 889 respondents, the survey offers a detailed look at the issues confronting both new and established businesses as they adapt to a changing economic environment.

Winnie Dowling, Nevada SBDC state director, said, "The Nevada Small Business Challenges Survey provides current information on what existing and new Nevada small businesses are experiencing. The large number of responses collected lends credibility to the results, and allows us to extrapolate current trends across all Nevada businesses over the last 3 years."

The survey highlights that existing businesses continue to struggle with finding new customers, managing growth, securing funding, and handling cash flow. Inflation remains a significant challenge, particularly for rural Nevada business owners.

For new businesses, securing funding is a persistent issue, with 70.19% of respondents identifying it as a challenge in 2024. Other concerns include understanding government regulations and developing marketing strategies.

The findings underscore the need for targeted support and resources for Nevada's small businesses, which make up over 99% of all businesses in the state. The survey aims to help organizations and communities better understand and support these businesses.

The survey, conducted annually, provides critical insights into the challenges faced by small businesses across the state.

To read the full survey, click here.