Estimated read time: 2-3 minutes
SALT LAKE CITY — The Beehive State is home to 324,821 small businesses that collectively employ 625,571 people.
That means 45.5% of Utah employees are employed by small businesses.
And in a bid to further support Utah's startup, small business and entrepreneurial ecosystem, Utah Gov. Spencer Cox and the Governor's Office of Economic Opportunity have announced the launch of the Startup State Initiative. Included in the initiative is an all-in-one website that aims to support startups, small businesses and entrepreneurs through every step of the business journey by "unifying" the state's entrepreneurial resources under one umbrella.
"Utah has created the perfect ecosystem for startups to thrive," Cox said in a statement. "The Startup State Initiative highlights what already exists in Utah and elevates it to new heights. It isn't just about Utah, it's about setting a new global standard for innovation and entrepreneurship."
The website houses resources like a step-by-step business journey guide, a resource filter and a business plan generator to connect entrepreneurs to the information and opportunities they need to start and grow a business.
Brad Bonham, Utah's first entrepreneur-in-residence, revealed the new website at the One Utah Summit last week and lauded it as a community resource.
"Startup.utah.gov and the Startup State Initiative celebrate, inspire and empower Utah entrepreneurs and those who support them," Bonham said. "We want to continue encouraging innovators to start their businesses in Utah and let them know that this resource can assist them while navigating entrepreneurial challenges."
During Cox's speech at the One Utah Summit, he proclaimed Utah as the "startup capital of the world" and the latest move seems to be another push to solidifying that title.
There's certainly merit to the proclamation, too, as the state's low corporate tax rate and government support for small businesses make it an attractive launching pad for many looking to start a business.
In Jan. 2024, WalletHub named Utah as the best state to start a business and a U.S. World and News Report ranking crowned Utah as home to the nation's best economy.
"We are proud to support Gov. Cox in this initiative and are excited to continue championing Utah's small business community," Ryan Starks, executive director of the Governor's Office of Economic Opportunity, said in a statement. "An entrepreneur's journey can often be daunting. Whether someone is at the early stages of an idea, needs help creating a business plan, or is considering how to grow or sell a business, startup.utah.gov is a one-stop-shop that truly highlights Utah as the startup capital of the world."
