An 11-member state task force has been organized to explore what can be done to increase the number of Utah-grown businesses and help local entrepreneurs succeed.
In its first meeting, the Task Force on Entrepreneurism was charged by Gov. Norm Bangerter to come up with concrete recommendations on how the state can fund new businesses starting in Utah."We want to create an atmosphere, an attitude, a climate of getting out of the road in the business community," Bangerter said. He explained that most entrepreneurial ventures take place outside of government because government doesn't have the capacity to put together business deals.
Committee member Dave Adams, who heads the Department of Community and Economic Development, said statistics show that 90 percent of the jobs created in Utah each year come from businesses started here. He also said that four of every five jobs nationally are in small businesses, not large corporations.
Task Force Chairman Ray Hixon, who also serves as chairman of Bonneville Pacific Corp. said, "I don't know if you can quantify what an entrepreneur does." Most of the members on the task force are small business owners.
If Utah can't attract new businesses to the state, it must create them itself, Hixon said.
The task force will focus on ways in which Utah can mold an environment suitable to entrepreneurial growth. Committee members suggested looking at tax laws, availability of capital and government regulation as they relate to entrepreneurs in the state.