Starting a Business in Utah: What Will Your Business Do?

by Norris Law Group on August 25, 2014

Starting a Business in Utah: What Will Your Business Do?Like many states, Utah welcomes and supports the creation of small businesses. The Utah State Tax Commission offers an online guide to help potential small business owners work out the details of their business and how it can fit into the fabric of other businesses in the area.

One of the first things the Utah State Tax Commission’s guide advises prospective small business owners to do is to go through a checklist (found on p. 1-1) to determine whether an idea for a small business is viable.

Once the checklist is complete, then the guide suggests that small business owners consider whether their idea for a business is “feasible.” This step (on p. 1-2) may involve making decisions about things such as:

  • Does your business idea offer a “relative advantage over existing products and services?”
  • Is your business idea “compatible with [buyer’s] existing attitudes and beliefs (that is, would your business idea require buyers to change their normal habits in any way)?”
  • Is your business idea or innovation easy to explain to buyers and the marketplace?
  • Would your business idea require a lot of risk or testing (sampling, a trial period, etc.)?
  • Would your business idea “satisfy a personal need by giving some immediate benefit” to buyers?

If the checklist comes out in your favor and these criteria are met, the Utah State Tax Commission says that your business idea may indeed be viable. But there is quite a bit more to starting a business in Utah and understanding all the “ins and outs” of the laws that apply to large and small businesses. A conversation with an experienced Utah business law attorney may help get your started.

Attorney Graham Norris and his associates at the Norris Law Group serve the residents of Utah County, UT and throughout Utah, Wyoming and Idaho. Contact them today at 801-932-1238 or online for a free consultation.

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