Problems associated with the growth and decline of local communities is important to the people affected. Several organizations focus on these issues. Utah Governor's Office of Economic Development, Utah Department of Community and Culture and Western Rural Development Center are three important sources of information. This web site is design to complement these and other related sites.
Economic multipliers, community impact studies and similar information provide some of the information needed by public and private decision makers. Two important sources of national data are the Bureau of Economic Analysis and the Bureau of Labor Statistics. One of the primary sources of data for Utah is maintained by the Governor's office of Planning and Budget. The Bureau of Economic and Business Research also has data for Utah Communities.
Small Business Management
Data from the Small Business Administration indicate that of the approximately 21 million firms in the United States more than 99 percent hire fewer that 100 employees. These small firms are the backbone of the US economy. This web page is designed to provide information concerning taxes and other issues needed to assist these firms.
No one likes to pay taxes but, all of us need information concerning how these might be reduced. The two most important sources of information are the Internal Revenue Service and the Utah State Tax Commission.
Utah State University offers a tax school for tax practitioners each fall. Brochure
Extension business and economic development assistance helps Utah communities and businesses to make choices and decisions among growth, employment and development alternatives. One of the resources provided business owners and potential entrepreneurs and supported by USU Extension is access to one of the Small Business Development Centers (SBDC) located strategically throughout the state. The SBDC provide clients with assistance as well as low cost workshops and conferences, the SBDC provides free one-on-one customized business consultation and assistance to help the business owner or entrepreneur manage critical business matters more effectively. This type of assistance may include:
- NEEDS ASSESSMENT – Business assessment of strengths, weaknesses and opportunities
- BUSINESS PLANNING – Strategic development of company’s goals, objectives and an action plan to achieve them
- MARKET RESEARCH AND STRATEGY – Identification and evaluation of markets and strategies for products and services offered; of the competition, and the development of an effective marketing strategy
- FINANCIAL STATEMENTS – Evaluation of the enterprise’s past and present financial health and position, and the enhancement of critical skills in accounting, control and record keeping practices
- CASH FLOW ANALYSIS AND FINANCIAL PROJECTIONS – Determination of your cash flow position and operating projections
- DEBT AND EQUITY FUNDING DEVELOPMENT – Evaluation of financing requirements, opportunities and future funding needs
- VALUATION METHODS – Development of skills, tools and understanding required to determine value when buying or selling a business
- STRATEGIC PLANNING – Continuation of business planning process and decision making to determine the company’s future goals and paths
- MANAGEMENT ISSUES – Examination of the enterprise’s structure, organization, policies and procedures to enhance opportunitie for growth and development