The Nevada Governor’s Office of Economic Development (GOED) has announced the launch of the Small Business Opportunity Program, following approval from the Nevada Legislature’s Interim Finance Committee. This initiative is part of GOED’s State Small Business Credit Initiative (SSBCI) technical assistance program.
In September, Nevada was selected by the U.S. Treasury as one of 12 states and two tribal governments to receive over $4 million through the Investing in America Small Business Opportunity Program. The funds are intended to support small businesses in key economic sectors by providing legal, accounting, and financial advisory services.
Karsten Heise, senior director of strategic programs and innovation at GOED, commented on the new program: “We will be expanding our partnership with the Nevada Small Business Development Center for SSBCI technical assistance delivery. With the new Small Business Opportunity Program, we will broaden our impact and be able to add new key strategic components such as health care businesses, expanding a tribal entrepreneurial development program, and supporting small business manufacturers to our existing SSBCI technical assistance service range.”
Winnie Dowling, state director at the Nevada Small Business Development Center, highlighted ongoing challenges faced by small businesses: “Through experience in assisting small businesses and administering the annual statewide Small Business Challenges Survey…we know that securing financing continues to be the main challenge for 70% of new and 25% of existing Nevada small business owners.” She added that this grant would enhance efforts to assist healthcare businesses and small manufacturers in obtaining funding.
The collaboration between GOED and its subrecipient, Nevada Small Business Development Center, aims to deliver technical assistance services across various sectors including rural areas and tribal communities. The initiative focuses on startups, healthcare businesses, advanced manufacturers—especially those involved in lithium battery production—and other electric vehicle component producers.
This effort is expected to foster growth among small businesses in Nevada. Partners include the Nevada Tech Hub and National Science Foundation Engines.
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