Utah has a high number of small businesses, with approximately 283,000 small businesses in the state as of 2020, representing 99.9% of all businesses in the state. There are a number of factors that may contribute to this high number of small businesses in Utah, including:

• Strong economy: Utah has a strong and growing economy, with low unemployment rates and a diverse range of industries. This can create a favorable environment for small businesses, with plenty of opportunities for growth and success.
• Favorable business climate: Utah has a business-friendly environment, with relatively low taxes and a streamlined regulatory process. This can make it easier to start and operate a small business in the state.
• Skilled workforce: Utah has a highly educated workforce, with a number of top-ranked universities and technical schools in the state. This can be beneficial for small businesses that need access to skilled employees.
• Supportive community: Utah has a strong sense of community, with many organizations and resources available to support small businesses. For example, the state has a number of business incubators and accelerators, as well as organizations like the Utah Small Business Development Center and SCORE, which offer business development resources and support.
• Quality of life: In addition to its strong business environment, Utah also offers a high quality of life, with a variety of outdoor recreational opportunities, a thriving arts and culture scene, and a diverse population. This can make it an attractive place for entrepreneurs to live and work.

  

If you are considering starting a small business in Utah, it may be helpful to research the local market, reach out to local business resources, and speak with other small business owners in the area to get a better understanding of the opportunities and challenges that exist in the state. Work Hive is a great place to network! Work Hive is a flexible coworking space featuring a range of solutions to suit your need: we have private offices, solo work stations, conference rooms for group work, a kitchen area, and all the space, technology and amenities you need to get your team off the ground. We have locations in Downtown Salt Lake City, and Sugar House.