

By Mary Lau, RAN President/CEO
THE POLITICAL CLIMATE IN 2024 IS SIGNIFICANTLY IMPACTING SMALL business decisions. As the presidential election approaches, small business owners are grappling with various challenges that influence their operations and strategies. Inflation, economic policies, access to credit, advertising costs, and political uncertainty are among the key issues shaping the landscape for small businesses in 2024.
First, inflation remains a critical issue. Small business optimism about inflation has declined, with only 24% believing it has peaked, down from 29% in the previous quarter. Furthermore, 75% expect inflation to continue rising, an increase from 69% previously. The Federal Reserve’s hint at an interest rate cut in the third quarter does not seem to assuage these concerns. Moreover, only 31% of small business owners feel confident in the Federal Reserve’s ability to control inflation, mirroring the low approval rating of President Biden’s handling of the presidency, which also
stands at 31%.
Second, there is widespread skepticism about current business policies among small business owners. According to CNBC, 75% believe policies favor large companies over small businesses, a sentiment shared across party lines. The ability to obtain credit is a prime example of this issue. Credit is vital for operating a business, especially when quick loans or credit card cash transactions are needed due to large accounts receivable problems. However, many banks are approving fewer loans and credit cards for small business owners. Customers using credit cards
benefit from delayed payments, but the cost of swipe fees poses a real difficulty for merchants.
Third, the intense competition for advertising space during election cycles is driving up costs, posing challenges for small businesses with limited marketing budgets. This necessitates more strategic planning and exploration of alternative marketing avenues. Political uncertainty also affects consumer behavior, leading to more cautious spending, as noted in an article from Inc. Magazine.
Additionally, while supply chain issues are currently less of a concern, there is
By Bryan Wachter
economy and community life. Their role goes beyond providing goods and services; they are crucial job creators, innovators, and contributors to the unique character of our neighborhoods. Given their significance, it is imperative that the voice of small businesses is robustly represented in Nevada’s legislative process. The Retail Association of Nevada (RAN) recognizes this necessity and actively works to ensure that small businesses have a powerful, influential voice in shaping the policies that affect them.
Small businesses constitute a significant portion of Nevada’s economic landscape.
According to recent data, they account for a substantial share of employment and economic activity in the state. These businesses drive economic growth by creating jobs, fostering innovation, and stimulating local economies through their operations and the spending power of their employees.
Despite their importance, small businesses often face challenges that larger corporations can navigate
more easily, such as regulatory compliance, access to capital, and the burden of taxes. This makes it crucial for small businesses to have a say in the legislative process, ensuring that laws and regulations are crafted in a manner that considers their unique circumstances and needs.
Advocacy is key to ensuring that the concerns and needs of small businesses are heard and addressed in the legislative process. The Retail Association of Nevada plays a pivotal role in this advocacy, representing the interests of small businesses across the state. By engaging with policymakers, providing testimony, and participating in public forums, RAN ensures that small businesses are not only heard but also understood and considered in legislative deliberations.
Effective advocacy involves a multi-faceted approach. This includes
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Continued from page 1 worry about the status of labor negotiations between the International Longshoremen’s Association (ILA) and the U.S. Maritime Alliance (USMX). Despite these concerns, 39% of small businesses plan to expand in the coming months, and 30% intend to hire more employees, indicating a growth mindset among many entrepreneurs. There is also some
good news. Bank United estimates that commercial real estate office rents will decline up to 4% in 2024, offering opportunities for businesses looking to expand their physical presence. Malls have become more affordable for retailers as well. While challenges persist, the overall sentiment among small business owners for the remainder of 2024 is one of resilience and
cautious optimism, with many anticipating growth and improved conditions.
The political climate in 2024 presents a mixed bag of challenges and opportunities for small businesses. To navigate these challenges, businesses need to prioritize value, trust, and exceptional customer service to maintain customer loyalty. Small business owners across
political affiliations share a feeling of being ignored by national leaders in policymaking and economic decisions.
Staying informed, remaining agile, and preparing contingency plans for potential postelection policy shifts are essential strategies for small businesses moving forward.
regulatory reform to simplify the often cumbersome and complex regulations that can burden small businesses. By advocating for streamlined regulations, RAN helps reduce the administrative load, allowing small business owners to focus more on running their businesses and less on navigating bureaucratic red tape.
Tax policy is another critical area of focus. Small businesses can be disproportionately affected by tax policies that favor larger corporations. RAN works to ensure that tax policies are fair and equitable, providing relief and support to small businesses.
For the legislative process to truly reflect the needs of small businesses, it is essential that business owners actively participate.
This can be through joining industry associations like RAN, participating in public hearings, and directly communicating with their elected representatives. The collective voice of small businesses is much stronger than any single entity, and by uniting under organizations like RAN, small businesses can wield significant influence. Participation is not just about being present but being proactive. Small business owners can share their stories and challenges, providing real-world insights that can shape more effective and supportive policies. Engaging in dialogue with legislators, attending town halls, and being part of advocacy campaigns are all ways in which small business owners can make their voices heard.
As Nevada continues
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to grow and evolve, the challenges and opportunities for small businesses will also change. The Retail Association of Nevada remains committed to adapting its advocacy efforts to address these emerging issues. Whether it’s navigating the complexities of digital commerce, addressing workforce shortages, or advocating for infrastructure improvements, RAN will continue to ensure that the voice of small businesses is heard loud and clear in the halls of the state legislature. Looking forward, the digital transformation of commerce presents both challenges and opportunities for small businesses. RAN is focused on helping small businesses leverage technology to enhance their operations and reach a broader market. Additionally, infrastructure improvements, such as
better transportation networks and high-speed internet access, are critical to supporting small business growth and ensuring they can compete on a level playing field.
The voice of small businesses is vital to the legislative process in Nevada. Their contributions to the economy, innovation, and community life make their perspectives indispensable in shaping policies that foster a thriving business environment. Through effective advocacy and active participation, small businesses can ensure that their needs are met, paving the way for a prosperous future for all Nevadans. The Retail Association of Nevada is proud to stand with its small business members, championing their causes and celebrating their successes in the legislative arena.
By Liz MacMenamin
MANAGERS (PBMS) HAVE become prominent intermediaries in the healthcare industry, influencing the relationships between insurers, pharmacies, and drug manufacturers. However, their practices have raised significant concerns, particularly for small businesses.
PBM reform is not just a buzzword; it’s a vital necessity for the sustainability and growth of small businesses. Here’s why small businesses should be at the forefront of advocating for PBM reform.
PBMs are responsible for negotiating drug prices, processing prescription drug claims, and establishing formularies (the list of covered drugs). While their purported aim is to reduce drug costs and improve patient outcomes, the reality is often different. PBMs have grown into powerful entities that control a significant portion of the prescription drug market. Their opaque practices and lack of transparency have
led to higher drug costs and limited choices for consumers and businesses alike.
One of the primary concerns for small businesses is the rising cost of healthcare. PBMs have been known to engage in practices that drive up drug prices, such as spread pricing, where they charge health plans more for a drug than what they reimburse the pharmacy, pocketing the difference. This lack of transparency and accountability leads to inflated costs for businesses providing health benefits to their employees.
Small businesses, which often operate on thin margins, are disproportionately affected by these rising costs. They don’t have the negotiating power of larger corporations and are left paying higher prices for employee health benefits. This financial strain can limit their ability to invest in growth, hire new employees, or offer competitive wages and benefits.
Liz MacMenamin
PBMs also influence which pharmacies employees can use, often directing them to PBM-owned or affiliated pharmacies. This reduces competition and can lead to higher prices and reduced access to necessary medications. For small businesses, this means their employees might face difficulties in accessing their preferred local pharmacies, impacting their satisfaction and productivity.
Transparency is critical to addressing these issues. Small businesses need to understand how PBMs operate and how their pricing mechanisms affect overall healthcare
costs. Advocating for PBM reform means pushing for legislation that requires PBMs to disclose their pricing practices, rebates, and fees. Transparency will allow businesses to make more informed decisions about their healthcare plans and negotiate better deals.
PBM reform can help level the playing field by promoting competitive markets. Policies that prevent anticompetitive practices and ensure a fair market environment benefit small businesses. When PBMs are held accountable and transparent, smaller pharmacies can compete more effectively, and businesses can choose from a broader range of providers, fostering innovation and lowering costs.
Several states have already enacted or are considering PBM reform legislation. These laws often focus on transparency,
issue in the retail industry. These fees are charged to merchants by banks for processing credit and debit card transactions, typically comprising a percentage of the transaction amount plus a fixed fee. While they might seem like a minor aspect of doing business, interchange fees have significant financial implications for retailers, particularly small businesses. Reforming these fees is not only essential for the health of the retail sector but also for promoting fair competition and consumer savings.
Interchange fees in the United States are among the highest in the world, averaging around 2% per transaction. This rate can be a substantial burden for retailers, especially those with thin profit margins. For small businesses, these fees can mean the difference between profit and loss, affecting their ability to compete with larger retailers who can negotiate lower rates due to their higher transaction volumes.
High interchange fees are especially detrimental
to small businesses. Unlike large retailers, small businesses lack the leverage to negotiate lower rates, putting them at a significant disadvantage. Here’s how these fees impact small businesses: l Reduced Profit
Margins:
With average fees around 2%, a significant portion of each sale is siphoned off by banks and credit card companies. For small businesses operating on tight margins, this can mean the difference
fair pharmacy reimbursements, and prohibiting gag clauses that prevent pharmacists from informing patients about cheaper drug options. Small businesses should support these legislative efforts and advocate for comprehensive federal reform to ensure consistent and fair practices nationwide.
The Retail Association
of Nevada is working with legislators and stakeholders in advance of the 2025 legislative session to start addressing our concerns about PBMs in Nevada. By collaborating with policymakers and industry leaders, RAN aims to create a more transparent and fair healthcare system that benefits small businesses and their employees.
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PBM reform is critical for the sustainability and growth of small businesses. The current PBM practices place an undue financial burden on these businesses, limit access and choice for employees, and stifle competition in the market. By advocating for transparency, fair practices, and competitive markets, small businesses can help drive meaningful
between staying afloat and going under.
l Increased Prices: To offset the cost of interchange fees, small businesses often have to raise their prices. This makes their products less competitive compared to larger retailers who can keep prices low due to their negotiated lower fees.
l Limited Growth: High fees limit the financial flexibility of small businesses, reducing
change in the healthcare industry.
The push for PBM reform is not just about reducing costs; it’s about ensuring a fair and transparent healthcare system that supports the growth and success of small businesses. It’s time for small businesses to take a stand and advocate for the reforms needed to create a more equitable healthcare landscape.
NEVADA’S SWING STATE STATUS REMAINS HOTLY CONTESTED FOR 2024
Despite Vice President Kamala Harris taking over as the Democratic nominee, Nevada remains a key battleground state for the 2024 election. While Trump has shown consistent leads in polls, Democrats believe Nevada is still winnable, especially with Harris on the ticket. Republicans, however, see Nevada as a prime opportunity, particularly in their efforts to flip Senator Jacky Rosen’s seat. Both parties are heavily invested, signaling Nevada’s continued importance in the upcoming election.
Nevada Independent
CARSON CITY JUDGE DELAYS RULING ON GREEN PARTY’S 2024 NEVADA BALLOT STATUS
Carson City District Court Judge Kristin Luis has yet to rule on a lawsuit filed by Nevada Democrats seeking to block the Green Party from the 2024 presidential ballot. The party had seemingly qualified with over 15,000 valid signatures, but Democrats argue many are invalid. With a deadline approaching, the decision could impact the tight presidential race, potentially drawing votes away from Democrats. The judge acknowledged the urgency and anticipated an appeal regardless of the outcome.
Nevada Independent
NEVADA AG APPEALS TO STATE SUPREME COURT TO REINSTATE FAKE ELECTORS CASE
Nevada Attorney General Aaron Ford has appealed to the state Supreme Court to uphold indictments against six Republicans accused of submitting a fake certificate declaring Donald Trump the winner of Nevada’s 2020 election. This case is part of a broader effort in several battleground states to overturn the election results in Trump’s favor. Similar cases have been filed in Michigan, Georgia, and Arizona, while the outcome in Nevada remains uncertain.
Las Vegas Sun
ENERGY’S SOUTHERN NEVADA CUSTOMERS MAY STOP SUBSIDIZING NORTHERN FIRE COSTS
The Public Utilities Commission (PUC) is proposing an end to the policy requiring NV Energy’s Southern Nevada customers to subsidize fire prevention costs in Northern Nevada, particularly around Lake Tahoe. This comes after a legislative mandate in 2019 required the utility to implement a Natural Disaster Protection Plan. The PUC’s new regulation would allow NV Energy to charge customers only for services provided in their specific region, potentially reducing costs for Southern Nevada residents.
Nevada Current
COUNTY SCHOOL BOARD TO SELECT NEW SUPERINTENDENT BY OCTOBER
The Clark County School District plans to choose a new superintendent by the end of October. The search firm Hazard Young Attea Associates will begin advertising the position in August, with applications due by September 30. The school board will hold special meetings in October to interview candidates, aiming to make a final decision by October 30. The current board, with three members soon to leave office, will oversee the selection, with November designated as a transition period.
Nevada Current
A recent survey of over 600 Western U.S. voters reveals strong support for increased protections for the greater sage grouse, whose population is threatened by wildfires, invasive plants, and energy development. According to the Pew Charitable Trusts, 9 in 10 voters believe protecting sage grouse habitat on public lands is important, with many also seeing potential economic benefits from stronger federal protections.
KUNR
A Carson City judge has denied a GOP motion to stop counting mail-in ballots that lack a clear postmark but are received up to three days after the election. This is the third attempt by Nevada Republicans to challenge the state’s election laws before the November election. The lawsuit has not been dismissed, and it is unclear if the GOP will appeal the ruling.
KOLO TV Reno
Nevada Secretary of State Cisco Aguilar is pushing for a clearer understanding of county commissioners’ roles in election certifications following the Washoe County Commission’s initial refusal to certify recount results. Although the situation has been resolved, Aguilar emphasizes the importance of commissioners ensuring votes are counted accurately. He suggests that any concerns about election processes should be addressed separately from certification meetings, underscoring that delaying or questioning certification during such sessions is unacceptable.
KUNR
BACK-TO-SCHOOL SHOPPERS FACE HIGH PRICES AND BUDGET WORRIES
Back-to-school shoppers are stressed about high prices, budgeting, and finding deals, with parents planning to spend an average of $506 for grade school and $821 for college supplies. Parents are prioritizing quality and durability in their purchases, with 23% focusing on this, while 20% want to ensure their kids are happy with the items. Most parents are involving their children in the shopping process, with 76% involving grade school kids and 59% involving college students. Many parents are getting a head start on their shopping, with over a third beginning in July. Only a small percentage plan to wait until September to make their purchases. Chain Store Age
AMAZON BOOSTS CHECKOUT TECH WITH ADVANCED AI Amazon has enhanced
its Just Walk Out checkout technology with a new AI model that speeds up and improves accuracy in processing purchases. The upgraded system simultaneously analyzes inputs from cameras, sensors, and product data, reducing wait times for receipts. The advanced AI technology will be rolled out to all 170 locations using Just Walk Out over the next month.
Retail Dive
DESPITE TIKTOK’S PUSH FOR “UNDERCONSUMPTION”, BACK-TO-SCHOOL
The back-to-school shopping season is in full swing, overshadowing TikTok’s “underconsumption” trend as families rush to buy supplies. Over half of students and families began shopping by early July, driven by early sales events from retailers like Target and Amazon. Despite higher costs, spending is expected to reach nearly $40
billion, with many parents feeling pressured to splurge on trending items, influenced by social media. To manage costs, experts suggest shopping early, looking for discounts, and reusing last year’s supplies.
CNBC
Walmart has implemented Denali’s “depackaging” technology in over 1,400 of its stores and Sam’s Clubs to efficiently separate food waste from packaging. This initiative, called Zero Depack, aims to enhance worker efficiency and support Walmart’s long-term sustainability goals.
Grocery Dive
QUALITY AND COMFORT TOP PRIORITIES FOR BACK-TO-SCHOOL FOOTWEAR SHOPPERS
When shopping for back-to-school footwear, consumers prioritize quality, comfort, fit, and design over
price and brand, according to a study by AlexPartners and the Footwear Distributors and Retailers of America. Product reviews and referrals also influence purchasing decisions more than cost, with the brand being the lowest priority.
Chain Store Age
AMAZON ELIMINATES PLASTIC AIR PILLOWS TO REDUCE WASTE Amazon is phasing out plastic air pillows in North America by the end of the year, replacing them with recycled paper. This move will eliminate nearly 15 billion plastic air pillows annually, marking Amazon’s largest plastic reduction effort in the region. The decision follows ongoing criticism from environmental groups and aims to prioritize recyclable materials in packaging. Environmental advocates have welcomed the change as a positive step for reducing plastic waste.
Forbes
TTORNEY GENERAL GARLAND COMMENDS
Southern Nevada’s CrimeFighting Partnerships
During a visit to Las Vegas, U.S. Attorney General Merrick Garland praised the strong partnerships
between federal and local law enforcement in Southern Nevada, highlighting their effectiveness in combating violent crime. Garland pointed to successful collaborations in highprofile cases and efforts to reduce gun violence.
Recent data shows a positive impact, with a 16% decrease in homicides and a 20% reduction in shooting victims within Metro’s jurisdiction compared to last year.
Las Vegas Sun
AMAZON CEO: RETAIL CRIME IN PHARMACIES DRIVING CUSTOMERS TO ONLINE SHOPPING
Amazon CEO Andy Jassy believes that the high rate of retail crime in U.S. cities is driving customers away from
their ability to reinvest in their operations, hire new employees, or expand their product offerings.
Consumers are indirectly affected by high interchange fees. When small businesses face increased costs, prices rise, making goods and services more expensive. Additionally, the lack of transparency around these fees means that consumers are often unaware of the additional costs baked into their purchases. Reforming interchange fees can lead to lower prices and increased transparency, benefiting consumers directly.
There is a growing call for legislative and regulatory reform to address the issue of interchange fees.
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Advocates argue for setting caps on these fees or introducing more transparent and competitive fee structures. Some proposals include:
l Capping Fees: Implementing a cap on interchange fees can help standardize costs and reduce the financial burden on retailers. This approach has been successfully implemented in other regions, such as the European Union, where interchange fees are capped at 0.2% for debit card transactions and 0.3% for credit card transactions.
l Enhancing Transparency: Requiring greater transparency from banks and payment processors regarding how interchange fees are set and charged can help retailers make more informed decisions and potentially negotiate
better rates.
l Encouraging Competition: Promoting competition among payment processors and card networks can lead to more favorable fee structures for retailers. Encouraging alternative payment methods, such as real-time payments and digital wallets, can also provide more options for both retailers and consumers.
Policymakers play a crucial role in driving the reform of interchange fees. By introducing and supporting legislation aimed at capping fees and enhancing transparency, they can help level the playing field for small businesses and promote fair competition. Furthermore, fostering an environment that encourages innovation
urban pharmacies and towards online shopping. He highlighted the increasingly difficult experience of shopping in physical stores, where many items are locked behind cabinets due to theft concerns, making it inconvenient for customers. This shift is contributing to the growing preference for purchasing necessities on Amazon. Fox Business
Michelle Mack, the leader of a nationwide retail crime operation, has been sentenced to five years and four months in state prison and ordered to pay millions in restitution. Mack ran a multimillion-dollar scheme
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where thieves targeted retailers like Ulta Beauty, with stolen goods being sold on Amazon. The operation was exposed through an investigation by the California Highway Patrol, as detailed in a CNBC report earlier this year.
CNBC
in payment processing can lead to the development of more efficient and costeffective payment solutions.
Reforming interchange fees is a pressing need for the retail industry, particularly for small businesses. High fees disproportionately affect these enterprises, distort competition, and lead to higher prices for consumers. By capping fees, enhancing transparency, and promoting competition, policymakers can create a fairer and more sustainable retail environment. Such reforms will not only benefit small businesses and consumers but also strengthen the overall economy by supporting entrepreneurial ventures and fostering healthy competition.
NRS requires all existing members of a self-insured group to be notified of all new members. NRNSIG new members are listed below.
NRNSIG members who wish to register a negative vote on a new group member, please write NRNSIG at 575 S. Saliman Road, Carson City, NV 89701, indicating which member and the reason(s) for the negative vote
September 17th is an incredibly important day for the United States, as it was on this day in 1787 that the US Constitution was adopted.If it weren’t for the Constitution the US could be an incredibly different country today, with far fewer civil liberties!
The National Retail Federation (NRF) has expressed strong support for the House-passed Tax Relief for American Families and Workers Act (H.R. 7024) and is urging the Senate to pass the bill. The legislation includes provisions for immediate
The Retail Industry Leaders Association (RILA) and the National District Attorneys Association (NDAA) have launched the 2024 Store Walk Initiative to address organized retail crime and habitual theft. This initiative connects retailers with local prosecutors to foster collaboration, share insights, and develop strategies to reduce crime. Building on last year’s success, where over 100 district attorney offices participated, the initiative aims to enhance communication and coordination, leading to more effective prosecutions. It is part of broader efforts, including the Vibrant Communities Initiative, to tackle the social issues driving crime and restore community well-being.
research and development expensing, full expensing for equipment and technology purchases, and a streamlined business interest deduction. NRF believes these measures are essential for driving domestic investment, innovation, and job creation, helping retailers modernize and stay competitive. The NRF will continue to advocate for policies that promote economic growth and benefit American workers and families.
The National Retail
Federation (NRF) has expressed satisfaction after the National Labor Relations Board (NLRB) withdrew its appeal of a court decision that struck down the Board’s final joint employer rule. NRF and other employment groups had opposed the rule, arguing it created unnecessary confusion in labor law. With the appeal dropped, the longstanding, clear standard has been reinstated, which NRF believes benefits retail employers and their employees. NRF had previously opposed the rule and supported efforts to repeal it.
Carson City, Nevada 89703-4272
Mary F. Lau President/CEO
Bryan Wachter Senior Vice President
Elizabeth MacMenamin Vice President of Government Affairs
Piper Brown Vice President, Finance and Administration
Megan Bedera Editor
Sue Arzillo, Alphabet Soup Inc. Newsletter Design & Layout
NEVADA FAMILIES ARE POISED TO SPEND
$525.1 million on back-toschool preparations this year, according to the Retail Association of Nevada (RAN). Compared to one year ago, total spending is down 0.5 percent.
RAN projects that $369.1 million will be spent on K-12 students, marking a 0.7 percent decrease from last year. Electronics top the spending list at $130.5 million, followed by clothing
and accessories at $106.9 million, shoes at $71.9 million and school supplies at $59.8 million. Nationally, families with K-12 students are expected to spend $38.8 billion, with an average of $874.68 per household, down 1.7 percent from last year’s $890.07, according to the National Retail Federation (NRF).
For college students, of which there are an estimated 114,000 enrolled in Nevada’s public and private institutions, RAN estimates total back-toschool expenditures of $156.1
million. Electronics again lead the spending at $41.1 million, followed by dorm and apartment furnishings at $22.0 million, clothing and accessories at $19.6 million, and food expenses at $17.1 million.
Nationwide, the NRF projects college students’ spending to reach $86.6 billion, with an average of $1,364.75 per household which is down 0.2 percent from one year ago.
In terms of shopping destinations, 57 percent of back-to-school shoppers and
50 percent of back-to-college shoppers are turning to online retail sites. Department stores are popular among 50 percent of K-12 shoppers and 35 percent of college shoppers. Other preferred locations include discount stores (47 percent for K-12 and 31 percent for college), clothing stores (42 percent for K-12), and electronics stores (23 percent for K-12). For college students, office supply stores (26 percent) and college bookstores (26 percent) are also favored.