Some have honeymoons in Vegas; others leave Las Vegas--but small business is here to stay.
The 7,000-plus people moving to this metropolis monthly are feeding a construction and service business boom that's turning the Las Vegas Valley into the big leagues of small-business opportunity. Gaming and tourism still lead the way, however, with the convention segment attracting significant numbers of people. Entrepreneurs in the distribution and light manufacturing sectors who cater to both the gaming and nongaming industries are also among the businesses hitting the Las Vegas jackpot.
The city has experienced its share of growing pains, however. Traffic delays are common, and area schools are struggling to meet a rapidly accelerating demand. School bond issues passed within the last year should provide some relief.
While business owners may find that access to capital remains a problem, a new $3 million state-operated fund called the Nevada Development Capital Corp. will provide funding for businesses between start-up and bankability. In addition, some area banks are starting to target small businesses.
And, for the first time, a vocal segment of citizens is calling for controlled population growth. While the political debate rages on, entrepreneurs continue to flow into the Las Vegas Valley seeking their own personal pot of gold.
This article was originally published in the October 1997 print edition of Entrepreneur with the headline: 20 Best Cities For Small Business.
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