Utah continues to win accolades for its business-friendly environment. This time it was recognized for its pro-small business climate.
Verizon recognized four Utah small cities in its recent report for their business growth and opportunities. Logan, South Jordan, Lehi and Taylorsville made the top-50 list for the Best Small Cities to Start a Small Business.
Several data factors were examined, and the Go.Verizon.com team gathered statistics from nearly 300 cities across the country, focusing on certain factors that would categorize them as small without dipping below the mark to town status.
Population: According to the U.S. census, the population of a city must fall between 50,000 and 75,000 people to be considered a small city.
Broadband access: Internet access is crucial to most business operations. Data was collected based on the access each city has to the internet, running at speeds of at least 10 Mbps for downloads and 1 Mbps for uploads.
Loans per capita: Most new businesses require business loans. Rankings considered how easy it is to get a loan.
Utah best small cities
Verizon recognized the best small cities to start a small business, and four Utah small cities made the cut.
#1 Logan. Logan is much more than a sleepy college town nestled among the farmland of northern Utah’s Cache Valley. Utah State University is crucial to both the economic and educational infrastructures of the city, and the state’s low tax rate makes starting and sustaining a small business surprisingly manageable.
#4 South Jordan. South Jordan is becoming a booming tech industry hotspot, with software companies growing from the seeds of startup ventures into impressive enterprises.
#7 Lehi. Lehi is one of several cities that have converged to make up an ever-growing tech industry haven. Here startups are nurtured into lucrative franchises, and global tech giants like Adobe and Microsoft operate large campuses.
#8 Taylorsville. Taylorsville is a happy medium as far as income, commute time, and access to loans goes. The Small Business Administration-sponsored program SCORE helps educate and encourage entrepreneurship and aids in small business growth and success.