In Focus: Some schemes, initiatives and grants for women entrepreneurs in Utah
#WomenInBusiness #UtahEntrepreneurs #StartupSuccess #BusinessFriendlyUtah #HappyState
Utah, renowned for its robust labor market, supportive regulatory framework, and promising prospects for future economic growth, has established itself as an ideal location for starting a business. This is particularly true for women entrepreneurs who find the state’s environment highly conducive to launching and growing their ventures. According to a new report by WalletHub, Utah is the best state in the U.S. for starting a business, outperforming states like Georgia, Florida, Idaho and Nevada. This distinction is proof of Utah’s commitment to fostering a business-friendly climate.
Moreover, Utah has been named the “happiest state” in the nation, reclaiming the title after slipping a few spots the previous year. This accolade comes from WalletHub’s annual study, which reviews each state across 30 key metrics, including depression rate, social and career well-being, job security, economy, and weather. While Utah excels in work and community environments, it has some room for improvement in overall emotional and physical well-being.
In such a vibrant and supportive ecosystem, women entrepreneurs in Utah are well-positioned to thrive. With ample resources, a strong sense of community, and a positive economic outlook, Utah provides a fertile ground for women to innovate, lead, and succeed in their business endeavors.
Let us explore some schemes, initiatives and grants that are available for women entrepreneurs in Utah.
Utah Government Agencies
- State of Utah – Governor’s Office of Economic Opportunity – Business Services
The office supports entrepreneurs in Utah and businesses – by utilizing state and federal resources and private-sector contracts to cultivate economic prosperity for all Utahns.
The business services team manages several initiatives facilitating economic opportunities for doing Business in Utah including:
• Startup Initiative providing new online resources and original content that give small businesses an entrepreneurial roadmap.
• Utah APEX Accelerator
• Utah Center for Immigration and Integration
• Utah Innovation Center
• Utah Small Business Credit Initiative
https://www.lisamasiello.com/utah-women-entrepreneurs-start-a-new-business
- Utah Small Business Administration – SBA
The Utah SBA is supported by a main district office in Salt Lake City and an additional location in St. George.
They provide services including – funding programs, counseling, federal contracting, certifications, and disaster recovery. They can also connect you to partner organizations, lenders, and other community groups that help small businesses succeed. Both locations are available to serve all 29 counties across Utah.
https://www.lisamasiello.com/utah-women-entrepreneurs-start-a-new-business
Utah Agencies and Non-profit Organizations
- Women’s Business Center of Utah – WBCUtah
Women’s Business Center of Utah boasts of a team of experts dedicated to providing customized advising, education and networking opportunities – to women entrepreneurs in every county of the state.
Significantly, WBCUtah helps business owners avoid costly mistakes, build confidence, gain critical skills, and implement best practices to run purposeful and profitable businesses.
It is to be noted that WBCUtah services are free.
https://www.lisamasiello.com/utah-women-entrepreneurs-start-a-new-business
- Utah Women’s Networking Group – UTWNG
The Utah Women’s Networking Group (UTWNG) connects members with the people, resources, encouragement, and inspiration to be as successful as they can be.
UTWNG empowers and supports women entrepreneurs by:
Connecting members with like-minded business owners and professionals through events and social media; educating members through events and valuable discussions; providing members with resources and referrals for growing their business or in their personal lives; inspiring and encouraging members to live their dreams and accomplish what they are truly passionate about & supporting local non-profits that provide valuable services to the community.
https://www.lisamasiello.com/utah-women-entrepreneurs-start-a-new-business
- Utah Valley Women’s Business Network
The Women’s Business Network is a valley-wide initiative that empowers women – to own, serve and collaborate with businesses in Utah Valley.
The WBN focuses on unifying, supporting and building community through hosting events and networking opportunities, utilizing accessible resources and developing professional skills. The Women’s Business Network is open to all business women in Utah Valley.
https://www.lisamasiello.com/utah-women-entrepreneurs-start-a-new-business
- Utah Small Business Development Centers – SBDC
The Utah Small Business Development Centers (SBDC) have training, tools, and access to help business owners succeed in starting, growing and transitioning their businesses. With free, confidential consultation and free or low-cost training, Utah’s SBDC Network is all set to help you.
At any stage of your business, certified business consultants are available to assist you with the following services.
• Business Planning and Start-up Assistance
• Management and Leadership
• Business Valuation, Finance, and Capital
• Marketing and Sales
• Customer Relations
• Accounting and Budgeting
• Employee Management
• Market Research
• Cash Flow Management
• Government Contracting
• Buying and Selling a Business
• International Trade
https://www.lisamasiello.com/utah-women-entrepreneurs-start-a-new-business
- National Association of Women Business Owners – NAWBO Salt Lake City
The Salt Lake City Chapter of NAWBO represents women business owners in a broad spectrum of endeavours – from interior design, marketing and customized web-based services to restoration, power sweeping and non-traditional industries like engineering and construction.
The organization’s goals focus on:
• helping the community of women business owners create more wealth and economic stability within their companies and communities.
• improving the business culture and community to work more efficiently with women-owned businesses.
• strengthening members’ partnership capabilities with other businesses, embracing the “Together Everyone Accomplishes More” philosophy.
• helping the membership become an influential force and the ‘face of good business’ throughout the State of Utah.
https://www.lisamasiello.com/utah-women-entrepreneurs-start-a-new-busines
- SCORE Utah
For entrepreneurs working to start new businesses and grow existing businesses, SCORE Utah provides free and confidential business advice.
SCORE volunteers are successful real-world business professionals with experience in areas such as accounting, finance, human resources, consulting, import/export, law, operations, production, retail, wholesale, manufacturing, sales, marketing, management, business plan preparation, strategic planning, and many other business disciplines.
SCORE Utah provides:
• volunteer mentors who share their expertise across many industries
• free, confidential business mentoring in person, via email, or by video
• free business tools, templates, and tips
• inexpensive or free business workshops and webinars
https://www.lisamasiello.com/utah-women-entrepreneurs-start-a-new-business
Funding – State and Federal Sources
- U.S. Small Business Administration – Funding Sources
The U.S. Small Business Administration helps small businesses get the funding they need. Funding resources include:
• Loans: Start or expand your business with loans guaranteed by the SBA.
• Investment capital: Find an investor for your business; and investors make both debt and equity investments.
• Disaster assistance: Get help after a disaster with low-interest disaster loans.
• Surety bonds: Protect your work and your client with an SBA-guaranteed surety bond.
• Grants: Look for government grants that help businesses do scientific research and development.
https://www.lisamasiello.com/utah-women-entrepreneurs-start-a-new-business
- Womens’ Business Centre of Utah
As dedicated advocates of Utah women business owners, they support the everyday woman through loyalty, honesty, and world-class technical services; amplified with advocacy.
They strive to help business owners avoid costly mistakes, build confidence, gain critical skills and implement best practices to run purposeful and profitable businesses.
- Cherie Blair Foundation for Women
They are involved in mentoring Women in Business. Cherie Blair Foundation for Women offers personalized, cross-border, online mentoring to enable a woman entrepreneur to fulfil her business potential.
Their gold-accredited Mentoring Women in Business programme exists specially because they know mentoring is transformative for mentees and mentors alike.
It is unique that Mentoring Women in Business was born from the belief in the power of mentoring, in the role technology can play in building connections & in community as a powerful force for change. It was by forging these elements together, they created a new way to support women entrepreneurs around the world to grow and strengthen their businesses and build their skills, confidence and knowledge.
- In Utah
#InUtah is all about boosting Utah’s economy. They provide resources for women.
And their goal is – to provide women with the resources they need to succeed in business. For which they have gathered key resources for- networking, training, funding & employment.
Inspire In Utah is an initiative to help support women entrepreneurs and women in the workplace at every level.
- The Startup State Initiative
The Startup State Initiative is a program to encourage and support more entrepreneurs to start the businesses they have been dreaming of – whether they live in rural Utah or the Wasatch Front.
They believe that in order for Utah to continue to prosper, to continue to be a place where people love to work and live and play, starting a business is the best path.
Currently, there are more than 300,000 small businesses in the Beehive State, employing about half of Utah’s workforce.
- US Department of Commerce
Basically to support women entrepreneurs, The Department of Commerce has tools and resources. So, the key mission of the Department is – to improve economic competitiveness to help enable workers and companies to succeed in the global economy. Women entrepreneurs and business owners are vital to accomplishing economic success.
Some of the resources for women entrepreneurs are:
The Women’s Global Trade Empowerment Program is the International Trade Administration’s premiere resource for women entrepreneurs who wish to boldly grow their businesses into new markets.
The Women’s Entrepreneurship (WE) program is a community-focused, collaborative, and creative initiative to encourage and empower more women founders across America. The program offers resources to help women protect their IP, fund their ideas, and expand their network, and features video testimonials from successful women entrepreneurs.
The Minority Business Development Agency (MBDA) Business Centers for Enterprising Women of Color promotes women entrepreneurs as engines of economic growth in their communities. These Centers focus on helping minority women-owned businesses secure contracts and capital, create jobs, and grow competitive businesses.
https://www.commerce.gov/work-us/services-businesses/resources-women-entrepreneurs
Avtar Madan
Himanshu
Shree Lahiri
