Utah Is The Right Place To Form Your Business

From McDonald’s to Microsoft, some of the most successful companies in the United States started as small businesses — the brainchildren of a few individuals with the courage to chase their dreams. With approximately 28 million small businesses in the nation, these companies are truly the backbone of our economy, employing more than half of the nation’s private workforce. While the economy has experienced a slowdown, people with great ideas and strong business plans can still succeed in the marketplace. 

Utah provides fertile breeding ground for businesses 

The good news for residents of the Beehive State is that Utah is a great place to start a small business. In fact, the Small Business and Entrepreneurship Council recently ranked Utah in the top 10 states in the United States based on its entrepreneur-friendly policies, tax laws and regulatory framework. These rankings indicate that individuals who opt to start businesses have greater chances of success in states like Utah than in other locales in the nation. 

Getting started on the right foot 

While a great idea is undoubtedly the beginning of any successful venture, starting a business requires proper formation and adherence to applicable laws. The first step is sitting down with a qualified Utah business lawyer to determine which type of business form is optimal for the enterprise. By assessing your purpose, resources and the liability protection you require, qualified legal counsel can guide your selection of the proper business form, whether corporation, partnership, sole proprietorship or other type of organization. When businesses take time at the outset to work with trustworthy and knowledgeable legal advisors, they can save themselves time, money and heartache in the long run. 

Inviting economic climate 

In addition to favorable laws and policies, small businesses in Utah may experience benefits in a number of other ways. For example, Utah participates in American Express’ Small Business Saturday, an annual event held the Saturday after Thanksgiving to promote independent businesses across the state. The State of Utah also sponsors a number of incentives, including

various grants for qualified entities and individuals. The combination of these conditions in Utah creates a fertile climate in which business of all sizes thrive. 

If you are considering forming a business in Utah, you need the right legal professional to assist you in your venture. The lawyers at Jeffs & Jeffs, P.C. are here to help you get your business off the ground.