The 7 Best States to Start a Business
Ranking the states based on how friendly they are to entrepreneurs

When it comes to starting a business, the question of "where" can be just as important as "what," "why," and "how." Some states offer better business climates for entrepreneurs than others. And in today's economy, entrepreneurs need all the help they can get when launching a new business.

U.S. News decided to look at two comprehensive studies that take completely different approaches to measuring the friendliness of the 50 states to entrepreneurs: the
2008 New State Economy Index, by the Kauffman Foundation and the Information Technology and Innovation Foundation, and the Small Business Survival Index 2008, by the Small Business and Entrepreneurship Council. 

They combined the rankings of these two studies to help come up with their list of the top seven states for starting a business. Click here to learn what they found.

Nevada Ranks #2 in Business Survival Index 
December 9, 2008--The Small Business & Entrepreneurship Council (SBE Council) released its 13th annual rankings of the states according to their public policy climates for small business and entrepreneurship in the "
Small Business Survival Index 2008: Ranking the Policy Environment for Entrepreneurship Across the Nation."

SBE Council chief economist Raymond J. Keating, author of the study, said: "The U.S. economy is in a serious downturn, and the outlook for a robust recovery seems remote. That means state and local policymakers face some very difficult decisions, especially on budget matters. Depending on the policy course that state lawmakers choose, they can either make the economic situation in their own state better or far worse."

In terms of their policy environments, the most entrepreneur-friendly states under the "Small Business Survival Index 2008" are: 1) South Dakota, 2) Nevada, 3) Wyoming, 4) Florida, 5) Washington, 6) Texas, 7) South Carolina, 8) Alabama, 9) Virginia, and 10) Colorado. The more difficult state policy environments for entrepreneurs include: 40) West Virginia, 41) Hawaii, 42) Iowa, 43) Vermont, 44) Massachusetts, 45) New York, 46) Minnesota, 47) Rhode Island, 48) Maine, 49) California, 50) New Jersey and 51) District of Columbia.

What CEOs are saying about Nevada
When Development Counsellors International (DCI) conducted its survey last summer, CEOs ranked Nevada as the 5th best business climate in the U.S. 
Click here to read what CEOs are saying about Nevada.  To download a copy of the full report, visit DCI's website by clicking here.

 
 
 

Other Useful Resources
Finanical Assistance Programs

Nevada Industrial Development Revenue Bond Program (IDRB)
Nevada Department of Business & Industry
Office of Business Finance & Planning
788 Fairview Lane
Carson City, NV 89701
Phone: (775) 688-1790
Fax: (775) 688-1791
 
The IDRB is a special type of loan to qualified manufacturers who are buying land, building new facilities (or refurbishing existing buildings) and purchasing new equipment. While the bonds are issued through a political body, they are funded from private sources of capital. Private investors buy the bonds to earn tax-exempt interest. Neither the loan nor the bond is backed by the moral or general obligation of the state.

Nevada Micro Enterprise Initiative (NMI)
Micro Enterprise Loan Fund
116 E. 7th Street, Suite 3
Carson City, NV 89701
Phone: (775) 841-1420
Fax: (775) 841-2221

1600 E. Desert Inn, Suite 209
Las Vegas, NV 89109
Phone: (702) 734-3555
Fax: (702) 734-3530

The Micro Enterprise Loan Fund is administered by Nevada Micro Enterprise Initiative. NMI's mission is to enhance the economic self-sufficiency of women and men by developing their entrepreneurial skills through training and technical assistance and access to credit. Start-up businesses are eligible for loan amounts of $100 to $7,500 - while existing businesses are eligible for up to $25,000.

Rural Nevada Development Corporation
1320 East Aultman Street
Ely, NV 89301
Phone: (775) 289-8519
Fax: (775) 289-8214

1301 South Highway 160
NSB Building, Second Floor
Pahrump, NV 89041
Phone: (775) 751-1947
Fax: (775) 751-1933

704 W. Nye Lane, Suite 201
Carson city, NV 89703
Phone: (775)883-4413
Fax: (775) 883-0494†

The Rural Nevada Development Corporation (RNDC) is a business finance and community development agency established to provide business loans, business assistance and housing rehabilitation services. RNDC is certified as a Community Development Finance Institution (CDFI). RNDC will lend to rural small businesses in need of expansion or start up financing. Funds are targeted for financing the expansion of existing, non-retail rural businesses, however, start up businesses may also be considered. RNDC also administers a USDA-Intermediary Relending Program.

U.S. Small Business Administration
300 Las Vegas Boulevard South, Suite 1100
Las Vegas, NV 89101
Phone: (702) 388-6611
Fax: (702) 388-6469

University of Nevada . Reno
SBA/NEVADA SBDC/032
Ansari Business Building, Rm. 411
Reno, NV 89557
Phone: (775) 784-1717
Fax: (775) 784-4337

The 7(a) Loan Guaranty Program is one of SBA's primary programs. Small businesses secure financing on reasonable terms through normal lending channels. The program operates through private-sector lenders that provide loans that are, in turn, guaranteed by the SBA – the Agency has no funds for direct lending or grants. The Microloan Program works through intermediaries to provide small loans from as little as $100 up to $25,000. The Certified Development Company (504 Loan) Program makes long-term loans available for purchasing land, buildings, and machinery and equipment, and for building, modernizing or renovating existing facilities and sites.

US Department of Agriculture (USDA) - Rural Development
1390 South Curry Street
Carson City, NV 89703
Phone: (775) 887-1222
Fax: (775) 885-0841
TDD (775) 885-0633

The USDA-Rural Development program offers guarantees for loans made to businesses and industries in communities with a population of up to 50,000. Benefits to businesses can include higher loan amounts, lower equity injection, and better interest rate and/or longer terms.