This story appears in the May 2025 issue of Utah Business. Subscribe.
Utah has long been recognized as a top state for entrepreneurship and small businesses. This success is no accident — Utah has a business-friendly climate, a strong economy and a collaborative ecosystem that supports small business owners.
You don’t have to look far to see evidence of Utah’s entrepreneurial spirit. In 2023 alone, Utah saw over 71,000 new business applications, ranking among the highest in the nation for business startups. Small businesses made up about 99.3 percent of all businesses, employing nearly half of the state’s private workforce.
One key driver of Utah’s success is its commitment to fostering a business-friendly environment. The state consistently ranks highly for its low taxes, minimal regulatory burdens and strong economic performance. Utah’s leaders recognize that small businesses are the engine of the economy and have taken proactive steps to create an ecosystem that enables their success.
Resources for small business owners
Beyond the efforts to maintain a pro-business environment through policy, Utah offers a range of resources and initiatives designed to help entrepreneurs start, grow and scale their businesses. Some of the programs offered in Utah that support small businesses and entrepreneurship include:
Startup State Initiative: Launched by Gov. Spencer Cox and the Governor’s Office of Economic Opportunity, the Startup State Initiative is designed to unify and strengthen Utah’s entrepreneurial ecosystem. It provides entrepreneurs with step-by-step guidance on starting a business, a business plan generator, and resources to navigate funding, licensing, and growth strategies. Most recently, the Startup State Initiative has partnered with the Lassonde Entrepreneur Institute to launch the monthly Get Started: Business Idea Challenge, a program that offers founders up to $500 to start or advance their businesses.
Women’s Business Center of Utah (WBCUtah): Women entrepreneurs and business leaders play a crucial role in Utah’s economy, and WBCUtah is dedicated to ensuring they have the resources they need to thrive. The center offers training, mentoring, networking opportunities and business counseling. By providing targeted support, WBCUtah helps women-led businesses overcome challenges and build sustainable success. As a testament to their work, WBCUtah was recently announced as this year’s winner of the U.S. Small Business Administration Women’s Business Center of Excellence Award.
In addition to these programs, the Salt Lake Chamber, Utah’s largest and longest-standing business association, provides extensive small business advocacy, networking events and business development programs. Through these events and programs, entrepreneurs can connect with experienced professionals, policymakers and investors who can help them navigate the business landscape.
Beyond these resources, Utah’s strong sense of community and collaboration sets it apart. From Silicon Slopes’ tech startups to Main Street retailers, small businesses in Utah benefit from a unique combination of state support, private sector investment and a culture that values entrepreneurship. As Utah continues to lead the nation in economic growth and business-friendly policies, it remains one of the best places in the country to start and grow a small business. As we continue to support and encourage our small business owners, they will continue to drive our economy forward for years to come.
