Local First Utah has released a new research study by Civic Economics detailing the amount of revenue returned to the local community by locally owned, independent businesses. The analysis shows locally owned retailers return 52% of their revenues to the local economy. For comparison purposes, national chain retailers return just 14% of revenues. That means every dollar spent at a locally owned, independent business returns almost four times more to the local economy than a dollar spent at a national chain retailer.

The study also looked at restaurants, where Salt Lake City eateries returned 79% of revenues to the local economy. National chain restaurants return just 30%, meaning a dollar spent enjoying a meal at a local restaurant means more than two and one half times as much to the local economy than a meal at a chain restaurant.

The study concluded that shifting just 10% of purchases from national chains to local retailers and restaurants would keep $487 million in the Utah economy – money that currently leaves the state to be spent elsewhere.

Download the Study »

"Most of us have a natural sense that local businesses are good for communities," said Betsy Burton, Co-Chair of the Local First Utah Board and owner of the Kings English Bookstore. "And studies in other parts of the country have borne this out over the past decade. Now we have hard evidence right here in our own city that consumers can have a huge impact on the local economy, just by shifting some of their purchases to local businesses."

The Civic Economics analysis looked at detailed financial reports from 15 retailers and seven restaurateurs from Salt Lake City's neighborhood business districts. Similar studies have been conducted in Austin, Chicago, San Francisco, Phoenix, Grand Rapids, and New Orleans. Read the results of studies from those cities »

"Every study we've conducted around the country has shown that shopping locally can keep at least three times more revenue in the local economy," said Daniel Houston, Partner at Civic Economics. "Salt Lake City is no exception. If anything, the 'local effect' may be even stronger in Utah."

The first of its kind in the Intermountain West, the study came about as a result of the 2011 Neighborhood Business Conference. The analysis was paid for by Salt Lake City government and Local First Utah, with a matching grant from the American Booksellers Association. The on-going support of Zions Bank and Harmons also made the study possible.

"This study confirms what we've known for some time – that our residents have the ability to make a real difference with their purchasing decisions," said Mayor Becker. "Our local businesses not only help define the character of our community, but embody the source of a real economic stimulus that can have an immediate, positive impact on our City's economy."

In January 2011, the Chamber introduced The Utah Jobs Agenda, a 10-point, private sector plan to create 150,000 jobs over five years. One element of that plan was to create a private-led partnership with representatives of rural Utah. On April 12th, the Chamber took steps toward that goal, hosting the 10th Annual Rural Business Conference in Richfield.

President of Grow America Alan Hall kicked off the conference with a keynote presentation. Grow America is an organization committed to economic growth and stimulation by supporting entrepreneurs—making it very fitting for Hall to lead the group for this conference.

Hall encouraged the conference participants to leverage their entrepreneurial skills and ambitions for the start-up of new companies. He recognized that entrepreneurship requires huge sacrifice, but he explained that such sacrifice creates the potential of huge value to founders, employees and economies. As he “put his money where his mouth is,” Hall invited attendees to register for the Springboard Competition that Grow America is hosting and is also contributing $1 million in prize money.

During the breakout portion of the conference, Utah business leaders had the opportunity to meet with professionals ranging in industries and specialties based on their needs, ranging from start-up financing to email marketing to international exporting.

Following lunch, Pete Codella from Codella Marketing presented a keynote address on social media marketing and its vital role in business today. Between defining terms like “Twitter handle” and “viral video,” Codella shared statistics and strategies for implementing and maintaining a social media presence. He explained that social media marketing is essential, not just a one-time affair but an ongoing active strategy.

Attendees for this year’s Rural Business Conference responded very positively to the event, providing wonderful feedback.

The Salt Lake Chamber along with its many sponsors and supporters look forward to bringing Rural Utah together again next spring to learn of one another’s successes and to share information relevant to rural business in Utah for 2013.

Release Number: 12-04                         Internet Address: www.sba.gov

— Winners to be recognized at an awards luncheon on Monday, May 14, 2012 —

Karen S. Woodbury, President of Woodbury Technologies has been selected as the 2012 Small Business Person of the Year for the Utah District of the U.S. Small Business Administration (SBA). 

After over 20 years of technical and managerial experience working in the U.S. Air Force ICBM Program in Utah, Karen Woodbury felt the ‘entrepreneurial spirit’ which takes hold when people believe in themselves and their potential for success.

From humble beginnings in 2003 as a one-woman company, Woodbury Technologies has grown to include nearly 200 employees who support the Air Force, Army, and Defense Information Systems Agency in Information Technology, Training and Courseware, Medical Services, Communications, Aerospace Engineering and Program Management in 10 different states.

Sandra Lanier with Ephraim Co-op, Home-Based Business Champion and Rene Eddy Yurja, Minority Small Business Champion have also been selected as regional winners for SBA’s Region 8, which includes the states of Utah, Wyoming, Colorado, Montana, North Dakota and South Dakota.

Woodbury and Utah’s other award winners will be honored at the annual Utah Small Business Week luncheon on Monday, May 14, 2012, at the Joseph Smith Memorial Building.  “The Utah District is pleased to recognize these deserving individuals and organizations who represent the best of what small business in Utah is all about,” said Stan Nakano, District Director of SBA’s Utah District Office.

Small Business Week Award Winners:

Small Business Person of the Year

Karen S. Woodbury, President

Woodbury Technologies

Financial Services Champion of the Year

Thomas T. Christopulos, Deputy Director of Ogden City

Community & Economic Development,

ORC Development Officer

Women in Business Champion of the Year

Diana George, Vice President

Zions First National Bank

Home-Based Business Champion of the Year (and SBA Region 8 Winner)

Sandra Lanier, Chair of the board of directors and president

Ephraim Co-op

Jeffrey Butland Family-Owned Business of the Year

Steve Simpson, Barry Simpson and Craig Simpson

William W. Simpson Enterprises Inc., dba Twin Rocks Trading Post and Twin Rocks Café

Small Business Exporter of the Year

Christopher Newberry, CEO/Owner

Export Computer Exchange

Small Business Development Center Service Excellence and Innovation Center Award

Lennart T. Erickson, Director

St. George SBDC

Minority Small Business Champion of the Year (and SBA Region 8 Winner)

Mr. Rene Eddy Yurja

Independent Contractor

******

Minority Economic Development 8(a) Award Winner:

Minority Small Business Person of the Year

Stan Nakamura

Nex-One Inc.

SBA was created by Congress in 1953 to support and foster the creation and success of small businesses.  SBA offers a wide range of financial and business assistance and disaster relief services.  www.sba.gov 

# # #

The world, national and Utah economy face considerable uncertainty. The stock market is a roller coaster. Global events such as those transpiring in Japan, Greece, North Africa and the Middle East cause concern. Unemployment in the U.S. and Utah remains perilously high. Yet through it all, Utah continues to outperform the nation with an economy growing at two-and-a-half times the national average.

Can this Utah exceptionalism last? Can Downtown Rising, TRAX expansion, and marquee relocations continue to keep the Utah economy above the fray? What can small business do to succeed in a tough and rapidly changing environment?¨Hear from Natalie Gochnour, Executive VP and Chief Economist of the Salt Lake Chamber, how Utah’s economy is faring during these uncertain and unique economic times
REGISTER at www.slchamber.com

__________________________________________________
October 11th, 11:30 A.M. - 1:00 P.M.
Breast Cancer Awareness Luncheon
Business Women's Forum

Join us at our next BWF luncheon on topic, “Breast Cancer Awareness."

We welcome three presenters, Debbie Mintowt, executive director, Salt Lake City Affiliate of Susan G. Komen for the Cure; Lisa Schneider, board president, Salt Lake City Affiliate of Susan G. Komen for the Cure; and Brenda Price, breast cancer survivor and thriver.

The luncheon will be going over Breast Cancer as an ongoing challenge, Komen as a national organization and its impact globally, the local affiliate, the race and its local impact and last hear from Brenda Price from a breast cancer survivor's perspective, the role Komen plays for her and her amazing outlook on life.
REGISTER at www.slchamber.com

____________________________________________________
October 13th & 14th
New program from Google - is an easy, free, and fast way to get your business online
Utah Get Your Business Online

If you don't have a website or Google Places listing, you'll find everything you need to get started - web professionals at your side every step of the way. We'll also provide the computers or a plug-in for your own laptop.

If your business is already online, you'll find tools and resources to help your business succeed online.

At these events you can:

- Get a free website and Google Places listing
- Get 1:1 advice and tips
- Learn more about online marketing
- Network with your fellow small business owners
REGISTER at www.utahgetonline.com

Dex One’s insight and local marketing experience provides small businesses with the tools and resources to support their business goals. The company’s combined offerings of marketing consultation, print directories and online solutions that drive trackable results offer a strong partnership and resource that can help small businesses in Northern Utah achieve success.

The two-day event will be held at Sundance Resort on Tuesday, August 30, 5:00 - 8:30 p.m. and Wednesday, August 31, 10:00 am - 1:00 pm. Complete details and registration can be found at: http://www.dexone.com/Utahleaders.

About Dex One Corporation
Dex One Corporation (NYSE: DEXO) is a leading marketing solutions provider helping local businesses and their customers connect wherever and whenever they choose to search. Building on its heritage of delivering print-based solutions, the company provides integrated products and services to help its clients establish their digital presence and generate leads. Dex One’s locally based marketing experts offer a broad network of local marketing solutions including online, mobile and print search solutions, such as DexKnows.com. For more information, visit www.DexOne.com.
# # #

Certain statements contained in this press release regarding Dex One Corporation's future operating results or performance or business plans or prospects and any other statements not constituting historical fact are "forward-looking statements" subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. All forward-looking statements reflect only Dex One's current beliefs and assumptions with respect to future business plans, prospects, decisions and results, and are based on information currently available to Dex One. Accordingly, the statements are subject to significant risks, uncertainties and contingencies, which could cause Dex One's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by, these statements.

The Salt Lake Tribune

First published Jul 14 2011 06:00PM
Updated Jul 14, 2011 08:48PM

Orem » A recession may seem the worst time to start a business, but Omniture’s co-founder believes it’s the best.

John Pestana, quoting social-network LinkedIn founder Reid Hoffman, told the Utah Valley Entrepreneurial Forum on Thursday that, when the economy’s down, “partnerships are easier, hiring’s easier, and the competition starts later.”

Pestana, who sold his online analytics company to Adobe for $1.8 billion in 2009 and has since started two new companies, was the keynote speaker at the forum’s “25 under 5” awards ceremony.

The event honored 25 Utah businesses less than five years old that have made significant strides. Forum Chairman Cary Snowden said those companies created a total of 800 jobs and $189 million in revenue last year — despite a sluggish economy.

Pestana said it is easier to find talented people during a slow time. He noted he put out an ad for a designer and had 35 résumés within a half-hour.

The key, he said, is not clinging to old business habits, especially as markets and technologies change.

“Recessions put people into categories,” Pestana said. “Those who are willing to change and move fast to adapt will succeed.”

The CEO of the No. 1 company on this year’s “25 and under 5” list agreed.

READ MORE

WASHINGTON -- As the country emerges from one of the most serious economic downturns in recent history, the last thing we need are more regulations that impose burdens on job creators.

One way to get Americans back to work is by removing excessive and costly regulations that make it harder for businesses to grow.

It appears in the early going that the Obama administration's executive order requiring a review of existing regulations "that are out-of-date, unnecessary, excessively burdensome, or in conflict with other rules" has encouraged some regulatory agencies to make recommendations that will save businesses time, money, headaches, and resources. But more must be done.

That's because the order exempts from review the huge flow of regulations in the pipeline generated by the health-care and financial reform laws, as well as the large number of major rules generated by the Environmental Protection Agency over the past two years.

This enormous onslaught of new regulations could well cost hundreds of billions of dollars, hamper our recovery, undermine our competitiveness, and cost jobs. The regulations are being promulgated under the same system that generated the ones the administration found necessary to review. And the "look back" plans do not appear to fix this problem.

If we don't take necessary steps now, our competitiveness and the success of America's small businesses are at risk.

Businesses with fewer than 20 employees incur regulatory costs 42% higher than companies with up to 500 employees. The average regulatory cost for each employee of a small business exceeds $10,000 per year.

The Small Business Administration priced the total cost of federal regulation compliance at $1.75 trillion in 2008 -- $15,000 for each U.S. household.

Consider the case of Ronald Myers, the former owner of Hot Shot Equipment Co. in Prescott, Ariz. Meyers was forced to shut down his iron gate manufacturing shop because overly burdensome workplace safety and health regulations prevented metalworking from being done by hand. Unable to compete against foreign suppliers, his only option was to let his workers go and close his business.

Make no mistake -- we need some regulations. Businesses require certainty and "rules of the road," and we need adequate protections for health and public safety. But when regulations suck the vitality out of our economy, it's time we take a hard look at restoring balance and accountability to the process.

First, Congress should wrestle back the unprecedented power that it has yielded to bureaucratic agencies over the past few decades. Today, nearly all major regulations go into effect without the people's representatives in Congress ever voting on them. Congress needs to play a larger role by exercising more vigorous oversight regarding the implementation of the sweeping laws that it passes.

A good place to start would be to pass legislation pending in Congress to guarantee an up-or-down vote, with no Senate filibuster, on regulations with an economic impact of more than $100 million.

Second, we need more rigorous cost-benefit analysis. Major rule proposals should require independent verification and public disclosure of economic and employment impact studies. Existing rules should be periodically reviewed by independent parties and those deemed ineffective or unnecessary should be phased out.

Finally, citizens should have the judicial access and tools they need to hold federal agencies accountable for limiting regulatory burdens. With appropriate access to courts, citizens help enforce transparency, check bureaucratic power, and hold government decision makers accountable.

We need to restore balance, restraint, and common sense to the regulatory process. It's time to open America for business again.

BY BILL FOURNET Oklahoman    0

Published: May 29, 2011

This past week, I attended the U.S. Chamber of Commerce’s America’s Small Business Summit, where companies from all over the country — ranging from loggers to dry cleaners to chocolate makers — attended to share lessons learned from experience. Small businesses have a real advantage over larger companies today, but some owners fail to recognize and pursue these advantages. Large companies are trying to shift their cultures and processes toward this small business mindset.

So, what are these advantages? Here are three that small businesses have:

•Agility. Small businesses rely on their people and their ability to work together daily. The great thing about being small is that you know everyone — their personalities, their families, their personal goals. This enables them to know who to call upon when a crisis occurs, who to help build the new product or service and to change quickly when the market demands it. Larger companies formalize processes and procedures — which they often must do to scale their operation — but in doing so, these processes create “baggage,” where the process or form often takes precedence over “getting it done.” This means larger companies cannot change as quickly, and sometimes leads to failure to support the market changes.

•Adaptability. Small businesses take risks — risks that may lead to failure. But often, these risks will lead to innovation. And that innovation drives changes in the market.

In today’s economy, the only certainty is this: things will change. Small businesses must adapt to their consumer needs, and that adaptation is what enables some of them to grow in scale — creating a “survival of the fittest” economy.

This is the fuel of capitalism. Most large companies have research and development departments, but these companies often are slow to see and embrace change, seeking to stick by their current plan amid a sea change. There are a lot of changes occurring today in our workforce — fundamentally new approaches to lead and leverage our workers — yet, many companies resist adapting to these changes and are seeing younger workers leaving.

•Walking the Talk. Most importantly, a small business has the advantage of knowing what it stands for, and ensuring that those values are shared with its customers and staff every day. This advantage exists mainly due to their size and the “flatness” of their organization (there may be only one or two levels in the hierarchy).