Are you thinking about opening a business and setting up a shop in the Silver State of Nevada? Well, it is quite an exciting state, most of all, because Nevada is home to Las Vegas. But whether you live near the city that hardly sleeps or not, opening up a business in Nevada – or any other state for that matter – can be very exciting.
One of the most exciting stages of starting a business is thinking of a name, but you need to make sure it is unique so that you can register it with the state. Because Nevada does not allow two businesses to have the same name, we’ll explain how to come up with a name, how to reserve the name, and how to register a business with Nevada officials.
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How to check business name availability in Nevada
To check if the name you want is available for you to use, follow these steps:
1. Visit the Nevada Secretary of State Website
Nevada’s business entity search tool is quite complicated compared to other states. However, you don’t need to fill out every field if you are only searching for a specific name.
2. Use exact match search
On top of the search, you will find search options to refine your search. Out of all the options, make sure you click on “Exact Match” to make sure the name you had in mind doesn’t have an exact match. Now, you can type in the name or names you thought of on the search bar and click on “Search.”
If there are no search results, it means that the business name is up for grabs. If there’s an exact match, the name is taken and you’ll need to come up with something different.
3. Consider reserving a name
After running a Nevada business name search, you have two options: You can reserve a name or you can register the name. You should reserve the name if you aren’t planning to set up the business immediately.
Nevada allows business owners to reserve a name for 90 days for $25.
To do so, you’ll fill out a quick form and provide the payment.
Again, you don’t need to reserve a name if you plan to officially set up your business with the state of Nevada, but if you’re just doing some homework and plan to set up your business later, reserve the name now so it’s not taken when you’re ready.
4. Check domain name availability
We created a tool that makes it easy.
How to name your Nevada business
Now that you know a little more about the business landscape in the state, it’s time to start generating a list of names for your business. To do so, follow these steps:
1. Write down basic details about your business
Start by creating a verbal picture of your business. Think about what your business will offer and who it will serve. Will you sell a specific product or service? Who’s going to buy it? Jot down a few details about your company as a starting point.
Next, start creating a list of adjectives that describe your business. Think in terms of keywords. What keywords would your customer use to find the product or service that you offer? Write them down.
2. Stay away from initials and hard-to-say words
There are plenty of businesses that include initials, like A&J Plumbing, but consider upping your game with something a bit more creative and descriptive.
The same goes for names that are hard to say. If your last name is Stackowaski, for example, it’s not conducive to a business name because it’s too hard to pronounce.
3. Don’t pigeon-hole your business
Be careful not to select a name that limits your company’s potential growth. Think about where your business will be in five, ten, even twenty years, and take that into consideration when creating a name.
A company named Bob’s Bargain Books, for example, is a good name, but what if they plan to sell vintage records and cassettes down the road? The name only refers to books, so when vintage music is added people won’t associate it with the store.
4. Consider using a name generator
At this point, you probably have a list of a few ideas. Rather than brainstorm a bunch of different combinations, why not try a name generator? You simply enter a few of the adjectives that you came up with into the search bar and you’ll get a list of possible names.
Name generators can take some of the hassles out of creating a name. Most name generators will only show you available names too, which is helpful.
Check out some of Namechk’s name generators below:
What kind of business structure is right for your Nevada company?
As you research available business names in Nevada, you’ll also want to think about what kind of business you want to establish. There are a handful of options to choose from, but some of the most common are Sole proprietorship and LLC.
- A sole proprietorship is ideal for small businesses with no employees that want to test their business out. There’s virtually no paperwork to set up this kind of business, which is a plus. However, a sole proprietorship is not a separate business entity, which means you’re financially and legally responsible for any problems that might arise.
- An LLC, or limited liability company, provides a certain amount of liability protection. Your personal assets and your business are separate with this business structure, which means if the business is sued or goes bankrupt, you will not be forced to use your personal cash reserves to bail the business out.
Steps to register your Nevada business
Ready to set up your business in NV? Here’s what you do:
1. File your Articles of Organization
Visit the Nevada Secretary of State website and fill out the Articles of Organization. To fill this out, you’ll need to have an available business name, address, and contact information.
2. Name a registered agent
You’ll also need to name a registered agent. A registered agent is the point-person for your company who will receive important documents like tax notices or legal documents.
A registered agent must be trustworthy and be available during regular business hours when documents are delivered. The business owner can serve as the registered agent in Nevada, or another person or company can be named.
You might decide to name your accountant or co-founder, for example. You can also hire a registered agent service to serve in this role. Northwest Registered Agent, ZenBusiness, and Bizee are a few examples. These companies will receive documents on your behalf and notify you of their arrival.
4. Pay the filing fee
Every state charges a filing fee to file LLC formation documents with the government. In Nevada, the cost is $75.
5. Wait for approval
Nevada will review your application and typically provides approvals within five business days. Once approved, your business is officially set up.
Our picks of the best registered agent services
Nevada small business facts
Before we get into the details about searching for a business name, you might want to read about these facts and statistics about small businesses in Nevada by the U.S. Business Administration:
- There are a total of 270,079 small businesses in Nevada which makes up for 99.2% of all businesses in the state.
- Nevada employs over 480,000 employees, which is 41.8% of all the private workforce.
- There are 98,010 minority-owned business employees in Nevada, showing the wide diversity of business owners.
- The trade business in Nevada has 2,766 firms that export locally made products to other states and worldwide.
- The unemployment rate in Nevada went down from 4.8% to 4.3% within a 12-month period from February 2018 to February 2019. However, it was still above the national unemployment rate of 3.8% in the same year.
- In 2017, 58,513 loans under $100,000 were issued by Nevada lending institutions to fund small businesses, meaning you can also apply for a grant in Nevada, provided that you had all the necessary requirements and a full-proof business plan.
- In the third quarter of 2017, 2,549 startups generated 9,017 new net jobs in Nevada. In the same period, almost the same number of firms exited causing over 6,400 jobs.
- The industry with the most number of employees in Nevada is the accommodation and food services industry, followed by the health care and social assistance industry.
FAQs
To further help entrepreneurs, check out these frequently asked questions about starting a business in Nevada:
Why is it so important to check on business name availability?
Nevada will not allow two businesses in the state to have the same name. There are many reasons for this, but at its core, it’s to avoid any confusion. For example, if someone plans to sue Bob’s Fruit Stand and there are two of these companies in the state, things can get complicated quickly.
All businesses must have a unique name. And, you can’t just add a hyphen to a name to make it different. Each name must be “distinguishingly different.”
What are the requirements for registering an LLC in the state of Nevada?
First, off you will need a name for your business. In the state of Nevada, every LLC requires the words Limited-Liability Company, Limited Company, Limited, or the abbreviations (Ltd., LLC, or LC).
You will also need a registered agent; a person or company who will accept important documents on the company’s behalf.
Lastly, you’ll need to register the business with the state by submitting Articles of Organization.
How do I apply for a small business loan in Nevada?
The Small Business Administration has a list of Nevada lenders. However, you will need to provide an in-depth business plan that includes financial projections, costing, and proof that your business idea is viable and profitable.
Do I need to write a business plan to start a small business?
The state doesn’t require a business plan to register a business, but it’s certainly advised.
Without a plan, management will not be able to fully utilize their skills, and that is why the process of developing a business plan can be vital. Plus, when hiring employees and managers or even when applying for a grant, having a full-proof business plan shows your skills and seriousness about your business, no matter what the size.
Do I need a business license to start a small home-based business in Nevada?
Whether you are opening a small business that takes place in your home, an LLC, or a corporation, you will need to apply for a business license before you operate. You will also need licenses and permits from the Nevada Department of Taxation and your local county or municipality office. To learn about the other requirements, your best course is to contact your local county office.
How do I dissolve a business in Nevada?
To dissolve a business in Nevada, you need to follow your Nevada LLC operating agreement, close business debts, and tax accounts, and file for articles of dissolution. The filing fee for dissolving a business in Nevada costs $100 and the document should be processed within a week. However, you can pay additional fees to expedite the process.
It is always best to contact your local county to find out the other requirements for business dissolution.
Which industry in Nevada has the most employees?
Nevada is home to many hotels, casinos, and restaurants, which is why the leading industry in terms of employees is the accommodation and food service industry, employing 85,053 in small businesses and 321,213 people for all private employment.
However, the industry with the most number of firms is the professional, scientific, and technical service industry with a total of 39,381 small firms, 7,540 firms that have 1 to 19 employees, and 31,285 nonemployer firms.
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