Turning Passion into Profit: Celebrating National Small Business Week in Reno, Nevada

This week in Reno, Nevada, we are celebrating National Small Business Week, recognizing and supporting local entrepreneurs who have made their mark in the business world. Nevada’s Small Business Development Center is a valuable resource for business owners at any stage of their journey, from just starting out to growing their enterprise.

Winnie Dowling, the Executive Director of Nevada’s SBDC, acknowledges the risks involved in starting and running a small business. She emphasizes that it is not for everyone but encourages those who are determined to take the leap to seek guidance and support from the SBDC.

According to The Lending Tree, Nevada ranks 5th among all states for the highest rate of small business failures with nearly 30% of small businesses failing within the first year of operation. This is higher than the national average of 23%. One of the main reasons for these failures is a lack of understanding of important business aspects such as competitive advantage, financial tracking, and cash flow management.

June Gronert, owner of Iconic Things shares her experience of starting a business without a background in retail and having to learn about licensing and tax IDs. Despite facing challenges such as adapting to inflation, finding new customers and securing funding; Gronert found her passion for crafting handmade vintage jewelry and repurposed ornaments after retiring seven years ago.

Gronert encourages aspiring entrepreneurs to take small steps and test their ideas before fully committing. She emphasizes the importance of perseverance and determination in overcoming obstacles that come their way. By taking these steps, new entrepreneurs can increase their chances of success while minimizing their risk of failure.