News from the Secretary of State
This morning I attended a presentation at the Las Vegas Chamber of Commerce by Nevada Secretary of State Ross Miller. He spoke about our state’s economic climate and the changes his office has been making to ensure Nevada remains attractive to businesses.
Currently, Nevada is second in the country for commercial filings. New entity filings grew by 12% over this quarter last year, and renewals grew 8%. There are approximately 340,000 entities registered with our state. Why so many? Because Nevada’s incorporation laws are stronger than Delaware’s, our capital markets make it easier to raise money, our business courts feature more business-minded judges and a more streamlined litigation process, among other reasons cited at WhyNevada.com.
While reports in national news about the economy in Nevada, especially in Las Vegas, paint a grim picture, Secretary Miller presented compelling evidence that our future is bright. He acknowledges that our future depends on our economic diversification. Nevada must no longer depend solely on gaming and tourism but must work to attract more solid industries to the state. The plan is to determine which industries we want here in Nevada, recruit accomplished faculty to prepare our students for entry into these industries, and then ensure the climate for doing business in Nevada remains friendly to these businesses. He referenced neighboring states that have followed this method, with quantifiable positive results seen within five years.
With regard to ensuring Nevada remains an attractive place to start a business, Secretary Miller provided an update on the Nevada Business Portal. Due to launch in only a few weeks, the Portal will eventually serve as a one-stop-shop for people starting businesses in Nevada. Currently, an entrepreneur has to fill out forms for, pay fees to, and visit over a dozen different offices to open a business. Using the Amazon.com model, the Portal will simplify this maddening process with wizards that ensure the correct licenses are secured, the information is entered only once, and everything is paid for only once.
Eventually, the Portal will be expanded to offer videoconferencing and chat capabilities so that companies can operate virtually, saving time and money.
As someone who helps businesses get started, I’m very excited about these developments from the Secretary of State’s office.