How To Start A Business In Provo

Entrepreneurship in Provo Utah

Opening In Provo

As 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 Business

Registering In Provo

Registering 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.

Click here to learn more.

 

Market Analysis

Analyzing Provo's Market

Before 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 Analysis

Another good way to understand Provo’s market is to visit your local Chambers of Commerce.

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 Statistics

Provo 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 Market

Medium house price: 419,000 dollars

National average house price: 240,500 dollars

 

General Advice

General Info For Provo

Provo 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.


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