Utah's economy is almost completely dependent upon small business by Small Business Adminis-tration standards. A new report says 96.5 percent of the 35,297 full-time businesses in the state are small businesses (independent businesses with fewer than 500 employees).
A new Utah business profile from the SBA shows there also were 61,000 full-time self-employed people in Utah in 1995 for a combined total of 96,297 full-time firms.The report said income of sole proprietors and partners increased 10.2 percent to $2.2 billion in 1995, while wage and salary income increased 9.4 percent. Total personal income increased 8.2 percent to $36.4 billion.
The number of businesses owned by women increased 53.1 percent from 1987 to 1992 and totaled 45,626. The number of firms owned by black people, including part-time companies, increased 75.2 percent from 1987 to 1992, the latest year for which figures are available.