Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
You might think that in our current economic situation, starting a new business, or investing in one, wouldn't be such a good idea. Well, don't tell that to a group of entrepreneurs who met in Sandy today.
Entrepreneurs are used to taking risks, and they're not afraid to fail. In a day-long entrepreneur and investor conference organized by Grow Utah Ventures and others, the mood was very positive, and all said home-grown businesses are the key to revving up the economy.
From the guy just starting up a new business, to the guy who created a company that advises others on how to get their businesses going, to the investor who's willing to shell out thousands of dollars of his own money, Global Entrepreneur Week Utah brings them all together.
"I actually have more confidence in my return coming from entrepreneurs that I believe in than I do from my stockbroker," said investor Martin Frey.
As part of Global Entrepreneur Week, meetings are taking place around the world. The goal: line up investors with people who have good business ideas.
"I have to tell you that America really survives because of its entrepreneurism, not because of big corporations. So we're saying: Get out there, start a company, build it, make it happen," said Alan Hall, chairman of Grow Utah Ventures.
Hall says there are hundreds of new business ideas out there and hundreds of investors in Utah willing to help out financially.
Dave Zitting has started up several businesses and is getting ready to start another. He says when the current economic slump reverses, he'll be ready.
"When we get out a couple of years, when the consumers are dusting off their wallets again, they're going to want something new," Zitting said.
This positive attitude in Utah has other states taking notice, so Hall has announced the beginning of Grow America, based on the Utah model. "We're now going to take it across the United States. We're going to take it to every city, every town to help entrepreneurs grow across the country," he said.
Hall and others said today that some of the biggest and most successful companies in the world were formed during previous economic downturns. For example, in the '70 a couple of brand new company's emerged: one was called Microsoft, and the other Apple.
E-mail: kmccord@ksl.com
