Adjusting to an Evolving Business Climate

Written by the Regional Administrator of the Small Business Association, Mr. Stan Nakano congratulates the winners of the most recent Small Business Week. Spotlighting the many different small businesses here in Utah in the innovative ways of creating the best business environment they can. Small businesses have grown in number and economic sustainability. The growing number of loans also helps the overall economy to grow in relation to those small businesses.

This news article proves that the research I am doing on small businesses being vital to Utah economy, to be true.  Utah is growing in expansion of small businesses, creating more of a lean onto those said businesses to keep the economy alive and well. During small business week, businesses are striving to be noticed and for that to happen., they need support from us, the consumers.

Nakano, Stan. "Adjusting To An Evolving Business Climate." Enterprise/Salt Lake City 44.38 (2015): F3. Regional Business News. Web. 22 Mar. 2016.  

Nakano, S. (2015). Adjusting to an evolving business climate. Enterprise/Salt Lake City, 44(38), F3.

Investment Fund has Benefits

Back in June 2006, the Southeast Utah Small Business Investment Fund was reviewed in order to determine the " its level of economic benefit to the rural communities of southeastern Utah, measure  the effects the program has had on participants’ use of public assistance, and look at the efficiency of program administration. The main goal of this group is to help lower income families, wanting to start a small business, the opportunity to do so by funding proceedings. As of now, it is only funding businesses in the rural southeast of Utah, but hopes to expand soon to other areas as well. 

This applies to my research because small businesses are vital to Utah's economy. In supporting those who are willing to start their own small businesses, helps the economy grow immensely, especially in the rural areas of Utah where there are not many large franchises to shop from. Though this is a great program, it has been short lived for some because there is still a significant amount of public assistance payout still occurring for the area. Overall, it has proved to be beneficial for most participating businesses. 

 Utah. Legislature. Office of the Legislative Auditor General. Southeast Utah Small Business Investment Fund Provides Some Economic Benefits. Salt Lake City, 2006. [Report to the Utah Legislature] ; No. 2006-07. Utah State Library. Web. 21 Mar. 2016. <http://www.le.utah.gov/audit/06_07rpt.pdf>.  

 Utah. Legislature. Office of the Legislative Auditor General. (2006). Southeast Utah small business investment fund provides some economic benefits ([Report to the Utah Legislature] ; no. 2006-07). Salt Lake City. Retrieved March 21, 2016, from http://www.le.utah.gov/audit/06_07rpt.pdf 

3/50

The 3/50 Project was designed to stimulate local economy and create an opportunity for small businesses to be stronger in clientele. It encourages customers to pick just three local small businesses and spend fifty dollars. It has been proven that when $100 are spent, $68 of that stays local. This is in comparison to only $43 from national chains, and zero when bought online. This will generate upwards of 43 billion dollars in extra revenue. This is a call to action. You as the customer must be willing to shop local.

The 3/50 Project is another great resource for small businesses. In my personal life, the business I work for, is a part of this. It really does help, more than one would expect. Working in conjunction with Small Business Saturday as well, gives these store owners a chance to survive,

 "The 3/50 Project ::: Home." The 3/50 Project ::: Home. Web. 02 Mar. 2016. <http://www.the350project.net/home.html>. 

 The 3/50 Project ::: Home. (n.d.). Retrieved March 02, 2016, from http://www.the350project.net/home.html