Starting a Business in Reno Nevada
So you have an innovative business idea and are looking forward to starting it in Nevada? Nevada provides numerous support programs and incentives for small businesses.
No matter whether it is a sole proprietorship, partnership, or corporation – they all need an EIN from the IRS – this number acts like your Social Security number for tax purposes.
1. Business License
Nevada is widely considered one of the best places to launch a business due to its favorable tax rates and minimal regulations, but it is still vital that you know which licenses will be required and their processing times. As there are multiple kinds of licenses that require different forms to be filled out and submitted directly to relevant agencies, seeking advice from both an accountant or attorney is strongly suggested in order to submit all required documents correctly.
Once you’ve established which business entity you plan on creating, the next step should be registering it with the state. This can be completed easily online but for optimal results, it is advised that a corporate service provider such as CorpNet handle this step for you as they will ensure all documents are filed and submitted accurately.
At the time of planning to open your business in any given location, it is also wise to contact the city in which it will operate and inquire as to whether a local business license will be necessary. Since each city can impose its own set of requirements and you should consult an attorney or resources from the Small Business Administration in order to gain clarity as to which licenses you might require.
As part of your business planning process, it is also essential that you determine whether your company will need to pay any state, county or local taxes such as sales use property excise and sales taxes.
Determine whether you require a permit before beginning construction of your commercial space for your new business in Reno. This will depend on local zoning laws.
When hiring employees, you will be required to register with the IRS for an employee identification number (EIN) and issue each individual with their own federal tax ID number. This process can usually be completed online in just a few days. In addition, payroll taxes for employee wages must also be filed as well as filing workers’ compensation and unemployment insurance bonds where applicable.
2. Website
Reno SEO, Marketing & Web Design can help you design a professional website design. Whether a small 3 page website or a huge e-commerce website design, we can handle it all. Sandy has been helping Reno business owners for several decades and offers quality services and support.
Nevada is an excellent location to start and run your business, boasting one of the fastest-growing economies in America and boasting highly regarded infrastructure at both city and county levels, as well as pro-business laws at both state and local levels. Furthermore, Nevada provides various tax benefits that may help offset some costs.
Reno, commonly referred to as “The Biggest Little City in the World,” lies along the Truckee River and boasts a stunning and varied landscape. Home to over 200,000 residents and an active performing arts scene as well as world-class restaurants, local breweries and numerous shopping opportunities, Reno offers something special.
Reno and Truckee Meadows area provide endless outdoor recreational activities in all four seasons, from golfing and fishing to biking, swimming, horseback riding, skiing and world-class casinos. Furthermore, this region is home to an abundant herd of mustang horses that freely roam public land.
If your startup requires funding, Reno offers multiple sources. The Small Business Administration offers loans to get it underway, while private lenders also can be useful sources. If possible, angel investors or venture capitalists (VCs) might also provide an investment.
As soon as your business employs employees in Nevada, you may also need to register for payroll taxes with the Department of Labor and Employment and file a new hire report with your local government. Furthermore, unemployment insurance and workers’ compensation premiums must also be paid on their behalf.
Greater Reno-Sparks startups can rely on several resources for support, including the Economic Development Authority of Western Nevada and Reno Startup Deck. Both organizations can offer workspace in Reno as well as mentoring services and capital funding support services for startups. Furthermore, The Reno Collective can offer coworking space at a fraction of the cost associated with purchasing and operating an office themselves.
3. SEO Marketing
As part of starting up a business, one of the first requirements will be an effective marketing plan to promote it. Utilizing both old and new media will enable you to reach your target audience cost-efficiently. SEO or Search Engine Optimization is one of the best digital marketing services available to small businesses in Reno. Most customers use Google as a research tool before purchasing services and products. With SEO, Sandy can position your company’s website at the top of the search results in as little as 30 to 90 days.
Decide the type of insurance coverage needed for your business. Depending on its nature and type, certain forms of coverage may be mandated or strongly suggested by state government; additionally, many businesses with employees require workers’ compensation and unemployment coverage as well. To best assess which policies suit you best, speak to a licensed agent.
Once your plan is in place, the next step should be securing financing for your business. According to U.S. Bank, most small businesses fail due to insufficient funding. Securing this capital may involve working with lenders, equity crowdfunding platforms or angel/VC groups operating in Nevada.
As a sole proprietor, it is imperative that you register your business with the state of Nevada. Furthermore, you will need to determine whether you require a resale certificate and pay sales tax accordingly. Furthermore, payroll taxes must also be filed while providing workers’ compensation coverage for your employees.
Reno offers startup entrepreneurs access to several resources for starting up businesses, including the Economic Development Authority of Western Nevada – a non-profit that offers workspaces, mentoring support and capital funding – in their early stages. Pacific Workplaces, a not-for-profit that offers workspace to startups at flexible lease terms, is another resource. They also provide training sessions and networking events. The American Marketing Association (AMA) provides an invaluable resource for learning SEO and other marketing strategies, such as networking opportunities. Membership includes access to exclusive resources, expert advice, networking events and discounts on conferences, workshops and seminars.
4. Domain Name
Domain names are essential for businesses looking to establish themselves online, as it helps customers easily identify your products or services online. Finding one that is short, easily memorable, and relevant to your industry is the goal here; additionally, it may be worthwhile registering different extensions so as to protect both yourself and your brand against competition.
Nevada City is home to numerous small businesses and boasts an array of industries that contribute to its economy, such as tourism, gaming, manufacturing and warehousing & distribution centers. Nevada’s Free Port Law permits interstate commerce merchandise to be stored tax free in this state allowing warehousing & distribution hubs such as Nevada to thrive without taxation concerns being an additional benefit for business.
Reno is a city with an illustrious past and an exciting future, thanks to its proximity to Sierra Nevada range and Lake Tahoe for outdoor activities. Reno also boasts numerous shopping and dining choices as well as an active arts scene; additionally, technology companies have moved in recent years bolstering local economies further.
Reno enjoys a mild and dry climate with hot summers and mild winters; light snowfall occurs year-round; however, heavy snowstorms do occasionally occur. Reno is named for Civil War Union General Jesse L. Reno who died at Fox’s Gap during American Civil War battle of South Mountain on Fox’s Ridge during Civil War American. Today it serves as capital of Washoe County located within Truckee Meadows region with over 235,000 population making Reno one of the largest cities in Northern Nevada.
