How To Start A Business In Provo
Entrepreneurship in Provo UtahAs the second settlement in Utah, Provo has grown from a handful of people to a population of 116,000. It's now home to many successful small businesses such as Namify (a screen printing company) and Pioneer book.
Located 45 miles south of SLC this fast growing city is a great place to start your small business.
Registering Your BusinessRegistering your business is one of the first steps to success.
And with Utah’s 70 dollar fee for starting an LLC, it's important you get it right.
Decide what kind of model is right for you (LLP, LLC, Corporation, Sole Proprietorship). Most small businesses start with an LLC. If you’d like an LLC, S-Corp, or C-Corp done for you, we’d be happy to do that on your behalf.
Market AnalysisBefore you start your business, look around to understand the market in Provo.
With an abundance of rich natural resources, Provo has a ton of business potential.
Provo’s sales tax rate is 7.25%.
Competitor AnalysisAnother good way to understand Provo’s market is to visit your local Chambers of Commerce.
You can use your local chamber of commerce to identify opportunities and threats in your local community. It’s a great way to get started on the bottom 2 quadrants of your SWOT analysis.
We’d recommend looking through it and identifying competitors in your industry, and identify the points of parity you need to live up to, and how to better leverage your points of differentiation.
Labor StatisticsProvo is full of hard working people that can be amazing assets to your company.
Unemployment rate in Provo:1.2%
Average annual salary in Provo:63,397 Information from Zip Recruiter
Education levels for residents of 25 and older:High school degree or GED: 14.3%
Associates degree: 34.2%
Bachelor degree or higher: 43.1%
Information from World Population Review Housing MarketMedium house price: 419,000 dollars National average house price: 240,500 dollars
General AdviceProvo is a unique place to start a business. We hope that the resources and points we brought up here will help you start a business there.
If you’d like to dive deeper into how to start a business, check out our much longer article How To Start A Business. Use both of them to get started on the right foot from day one. |
About the Firm... Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest. Top Blog Articles1. Cheapest Way To Get A Patent 2. How Long Does It Take To Get A Trademark? Want to chat more about this topic, or got a burning question? Take advantage of instant chat and send us a direct message
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