Utah: #3 nationally for small business optimism

Highlights:

  • In Utah, optimistic small business owners outnumber pessimistic ones 13 to 1
  • Optimism is translating into 1 in 4 SMBs planning to hire this year
  • Check out our full report on the state of small business in Utah

Business is booming in the Beehive State. Utah has been racking up accolades, including being named the top state for business by CNBC and Forbes. Now, Utah can add #3 state for small business optimism to its resume.

We recently surveyed thousands of small business owners in all 50 states to see what’s driving optimism, anxiety, and action for the nation’s 28 million small businesses. Utah finished in the top three for overall optimism behind Kansas and Missouri with 13 optimistic business owners for every 1 pessimistic one.

That optimism is being driven by quality employees, the health of the state/local economy, and good customers. Business confidence matters for Main Street entrepreneurs, because our study found that nationwide optimists are 3.5x more likely to hire and give raises to employees in 2017, and pessimists are 6.5x more likely to reduce staff and pay.

In Utah, strong optimism is translating into 1 in 4 small businesses planning to hire this year, ranking Utah #19 nationally for hiring intent. Our study also reveals what’s keeping Utah’s small business owners up at night, and how they feel about key political and policy issues that affect small business, including the Trump presidency, Obamacare repeal, and tax reform.

Check out the full report below.

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