Bolder Way Forward for Utah

Entrepreneurship

BWF logoOver the last 20 years in Utah, women-owned businesses have grown by 77% and Utah is ranked 6th in the nation in economic clout for women-owned businesses. Yet, research shows that 42% of all businesses are women-owned nationally, while in Utah only 16% are women-owned. Utah also ranks 41st in the “Entrepreneurship-rate disparity” category on Wallethub’s Best & Worst States for Women’s Equality (includes companies with more than one employee). The greatest barriers to women’s entrepreneurship are fair access to capital, access to mentors, access to affordable childcare, and lack of awareness of business training and resources. To support the potential economic trajectory of women-owned businesses, changes are needed in business practices and attitudes. If women owned half of Utah’s businesses, the state economy would grow by 25,000 new businesses, $27 billion in additional revenue, and 162,000 new jobs.

A Bolder Way Forward’s Entrepreneurship Spoke is working with the Women's Business Center of Utah and other partners statewide to help more girls and women achieve success as they experience the aspirations and options to own and operate businesses, including equitable access to capital, mentors, and business training and resources. Learn more about how Utah can eliminate the barriers to entrepreneurship for women by viewing the resources below. Individuals, organizations, and communities can also take specific actions to help. To get engaged, email the UWLP Community Connector (Amy Anderson).

Key Resources

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Informational Video

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Resource Kit

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 Research & Policy Brief

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What Utahns Need to Know

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Spoke Podcast


Bold Goals

Through collective impact and systems thinking, Utah can improve things by working towards the following goals:

  1. Increase the number of Utah women-owned businesses. [Metric Dashboard]
  2. Increase the total annual revenue of Utah women-owned non-employer businesses. [Metric Dashboard]
  3. Increase the percentage of employer businesses of total women-owned businesses. [Metric Dashboard]
  4. Reduce Utah’s entrepreneurship-rate disparity between men and women. [Metric Dashboard]
  5. Increase Utah women’s agreement (understanding and perceptions) in the following areas: [Metric Dashboard]
    1. If I had the opportunity and resources, I would like to start a business. 
    2. If I started a business, my family and friends would approve/support of my decision.
    3. If I started a business, it would grow to be big enough to employ others.
    4. If I were to start a business, I would know how/where to access resources and support.

Spoke Advisors
Ann Marie Wallace (State Director, Women's Business Center of Utah)
Seth Jenson (Director, UVU Entrepreneurship Institute)
Kelsey White (Consultant, Kelsey White Research)
Angela Brown (Executive Director, Craft Lake City)



What You Can Do

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Share Utah resources with women you know who are considering starting a business or interested in growing their existing business, such as Startup StateWomen’s Business Center of Utah, and this resource kit.

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Get girls and young women excited about the opportunities they could have to start their own businesses. Share resources that will help them prepare.

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Encourage elementary, middle, and high school teachers to invite women business owners to speak to students about their experiences. Find women business owners here.

 


Community Partners

WBC Logo

The Women’s Business Center of Utah helps women start, grow, and lead successful businesses. They offer advising, trainings, tools, and community to help Utah women build confidence, create opportunities, and achieve business ownership.

US SBA logo

With offices in Salt Lake City and St. George, the SBA helps business owners with funding programs, counseling, federal contracting certifications, and more. They also help small businesses connect to partner organizations and lenders.

GOEO logo

GOEO manages various programs and initiatives that  provide Utah entrepreneurs and businesses with distinct advantages. This includes a statewide capital access program to help small businesses and entrepreneurs grow, succeed, and remain stable.

WBEC West logo

WBEC-West is dedicated to helping women entrepreneurs navigate the certification process. and realize their business potential. They help build connections with enterprise networking and development opportunities. 

The MILL center logo

Based at SLCC, The Mill is Utah’s first established business incubator. Entrepreneurs can learn, network, and scale their businesses through the use of various workspaces, education programs, and resources. 

Lassonde Institute logo

Lassonde Entrepreneur Institute is the University of Utah's hub for student entrepreneurship and innovation. Programs include workshops, networking events, business-plan competitions, startup support, community outreach and more. 

Westminster logo

Westminster's Center for Financial Wellness improves outcomes for start-ups and entrepreneurs needing resources to overcome cultural and economic barriers to success. This includes special focus on low-income, minority, female-led, underrepresented groups.

UVU E  center logo

The UVU Entrepreneurship Institute offers programs to inspire and empower students and community members. Opportunities include credit-bearing classes, hands-on workshops,mentoring appointments and dynamic events.

 USU Center for Entrepreneurship logo

USU's Center for Entrepreneurship fosters creativity, self reliance, tenacity, persistence and resourcefulness through classes, internships and competitions. These skills position students become entrepreneurial leaders in Utah and beyond.

VRBC logo

The VRBC's mission is to counsel, advise, mentor, and support Utah military-connected individuals as they start and build or grow their businesses. Services include advising, startup training, and registry of veteran-owned businesses.

SLC Dep of Economic Development logo

The Salt Lake City Dep. of Business Development offers resources for Utahns starting, growing, or expanding their business. Through tailored assistance and strong partnerships, they help secure funding, fast-track startups, and navigate growth opportunities. 

 ashTEC logo

Utah-based ashTEC is passionate about fostering economic growth in rural and tribal areas. The firm provides consulting services and rural technical assistance across the nation by delivering strategic, practical, and scalable solutions for entrepreneurs.

Craft Lake City logo

Craft Lake City is a charitable organization with a mission to educate, promote and inspire local artisans while elevating the creative culture of the Utah arts community. They elevate Utah’s creative community through year-round programming, initiatives and seasonal events.

Make Utah logo

MakeUtah is building the future of hard-tech innovation from concept to commercialization. They empower entrepreneurs with cutting-edge tools, industry partnerships and mentorships to drive innovation, commercialization and economic growth. 

 Kinect Capital logo

Kinect Capital is a non-profit organization that makes founders more investable and connects them to capital. They facilitate meaningful connections among entrepreneurs, mentors and sources of capital through a culture of kinship.

The Mama Ladder logo

The Mama Ladder connects women at the intersection of mamahood and entrepreneurship through their community of "mamapreneurs". In addition, they offer customized business training to help women grow profitable businesses. 

Utah Microloan Fund logo

The Utah Microloan Fund aims to strengthen communities throughout Utah by providing business education and microloans to entrepreneurs in start-up and existing businesses that do not qualify ​for traditional funding sources. 

MAG logo

The Mountainland Association of Governments is a non-profit lender serving Summit, Utah, and Wasatch Counties. They provide gap funding for start-up and expanding businesses through the MAG Small Business Loan Fund.

e-women network logo

The Salt Lake chapter of the eWomenNetwork delivers the coaching, mentorship, visibility, and community women entrepreneurs need to accelerate success. They host In-Person and Online networking events.

RevRoad logo

RevRoad offers visionary strategy on growth and funding coupled with in-the-trenches sweat equity in software, marketing, and business development for start-ups in Utah.

Next Wave Impact logo

Next Wave Impact is a movement driving impact, diversity, and inclusion in early-stage investing and the entrepreneurial ecosystem. They offeer training for on social impact for investors and supporting underrepresented entrepreneurs.