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Choose the Right Utah Business for Sale

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Post Choose the Right Utah Business for Sale   Sat Aug 13, 2011 12:00 pm

Utah's Business Resource Centers (BRCs) were established to help businesses in the state succeed, and they offer the services needed to enable start-ups and established companies reach their full potential.

Located at institutions of higher learning in the state and other suitable venues, the BRCs are one-stop facilities that coordinate the tracking of clients, business support, training, access to funding sources, talent, networking and technical expertise for entrepreneurs and business owners. You will find them especially helpful if you plan on purchasing a Utah business for sale.

Each BRC partners with service providers in their area to identify any gaps in the services being offered, provide business opportunities for their clients, and create new initiatives. These partners include private, municipal, county, federal, state and other providers that are willing to work with the BRC in assisting businesses. (Note that matching funds, whether paid in cash or in-kind, are required for this effort.) In addition, the Governor's Office of Economic Development oversees the BRCs, retains decision-making authority and acts as their fiscal agent through an advisory board.

Dealing with the global economy in Utah

As companies in the state prepare to expand their operations, the International Trade and Diplomacy Office (ITDO) assists them in establishing worldwide business connections to build Utah brands, increase marketing possibilities, and establish Utah's global presence.

If you consider buying a Utah business for sale, the Utah Department of Workforce Services (DWS) can provide pertinent, statewide economic data-including standard wages, unemployment rates, business outlook, job-growth rates and population statistics-to help you make an informed decision.

These are some of Utah's major industries:

- Tourism is important here because the state is well-known for its wide range of recreational and outdoor activities, which are available throughout the year. Rivaling California and Alaska, Utah has five national parks, six national forests, two national recreation areas, seven national monuments, and a number of state monuments and parks for visitors and residents alike to enjoy.

- It is also obvious that the state's technology companies have a bright future. Currently, there are more than 5,200 life sciences and IT companies in Utah with approximately 66,000 employees. Also, the average IT salary here is 58% higher than the average non-agricultural wage in the state.

- As the industry has evolved, banking is a leader in the development of advanced technologies related to extending credit for higher education and home ownership, and providing needed capital for businesses of every size.

- Even in the 21st century, the mining industry plays a significant role in Utah's economic development. The minerals mined in here include, gold, silver, copper, lead, zinc, beryllium and molybdenum. Fossil fuels-such as natural gas, petroleum and coal-are also essential to the state's economy, especially in eastern Utah.
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