SALT LAKE CITY — There are 324,821 small businesses in the Beehive State, employing a total of 625,571 people.
That means 45.5% of Utah’s workforce is employed by small businesses.
And to further support Utah’s startup, small business and entrepreneurial ecosystem, Utah Governor Spencer Cox and the Governor’s Office of Economic Opportunity announced the launch of the Startup State Initiative. The initiative will include an all-in-one website aimed at supporting startups, small businesses, and entrepreneurs at every stage of their business by “unifying” the state’s entrepreneurial resources under one umbrella. It contains.
“Utah has created the perfect ecosystem for startups to grow,” Cox said in a statement. “The Startup State Initiative focuses on what already exists in Utah and takes it to new heights. It’s not just about Utah; it’s about setting new global standards for innovation and entrepreneurship. That’s what I do.”
This website features resources such as step-by-step business journey guides, resource filters, and business plan generators to connect entrepreneurs with the information and opportunities they need to start and grow their businesses.
Brad Bonham, Utah’s first Entrepreneur-in-Residence, unveiled the new website at the One Utah Summit last week and praised it as a resource for the community.
“Startup.utah.gov and the Startup State Initiative celebrate, inspire and empower Utah’s entrepreneurs and the people who support them,” Bonham said. “We want to continue to encourage innovators to start businesses in Utah and let them know that this resource can help them overcome the challenges of being an entrepreneur.”
Cox declared Utah the “Startup Capital of the World” in a speech at the One Utah Summit, and this move appears to be another push to solidify that title.
The declaration certainly has its benefits, as the state’s low corporate tax rate and government support for small businesses make it an attractive starting point for many looking to start a business.
In January 2024, WalletHub named Utah the best state to start a business, and US World & News Report rankings recognized Utah as the nation’s best economic hub.
“We are proud to support Governor Cox in this effort and are excited to continue to advocate for Utah’s small business community,” Ryan Starks, executive director of the Governor’s Office of Economic Opportunity, said in a statement. Stated. “The journey of an entrepreneur can often be daunting. Whether you are in the early stages of an idea, need help writing a business plan, or considering how to grow or sell your business, But startup.utah.gov is a one-stop shop. It truly highlights Utah as the startup capital of the world.”
