Utah Small Businesses: Five Fast Facts

May 22, 2024

Delaney Sexton
Contributing Editor

Utah Small Businesses: Five Fast Facts

• Between March 2021 and March 2022, there were 16,505 small business openings.
• During that same period, small businesses created 60,716 new jobs.
• In 2021, new lending to small businesses through loans of $1 million or less was $3.1 billion.
• Small business exports reached $11.1 billion in 2021.
• Small business employment in Utah increased by 59.7% between 1996 and 2020, which exceeded the national small business employment growth rate.

Source:
SBA Office of Advocacy 2023 Utah Small Business Profile