Last Updated January 10, 2025
According to new Census Bureau data, Utah saw a higher-than-usual number of EIN applications in December 2024 with a 44% increase in business applications from November to December.
Comparatively, the average change from November to December that Utah saw over the last 10 years was a 3% drop in applications. The 6,491 applications that the state received in the final month of 2024 were the highest for any month over the past 20 years.
This record high followed a period from September to November 2024 when Utah business applications saw an unseasonal dip, dropping all the way to 4,202 applications which was the lowest monthly number since December 2020.
During this same timeframe, Utah’s Division of Corporations and Commercial Code rolled out a more efficient and user-friendly online business registration system. However, in October and November, there were mentions of the updated system creating new problems for users.
In her Autumn 2024 Executive Director Message, Margaret Busse stated, “Transitioning to a new system is never without its challenges, and I acknowledge that the road has been bumpy. Your concerns and frustrations have not gone unheard. We are aware of the issues and are diligently working through them.”
The problems that users experienced in the new Utah business registration portal could be the reason for the dip in applications from September to November and the subsequent increase in December. Due to system bugs and general changes to the business registration process, users were more likely to wait to register their businesses with the state of Utah, which would then delay their applications for EINs.
Despite this recent hiccup, Utah has been garnering significant praise regarding the state’s efforts to promote new businesses and small businesses. In January 2024, Utah was named the best state to start a business, and in April, Governor Spencer J. Cox and the Governor’s Office of Economic Opportunity (GOEO) launched the state’s Startup State Initiative, a strategy dedicated to helping entrepreneurs and small businesses throughout the business lifecycle. This initiative’s website provides small business resources, including a business plan generator and a step-by-step guide for each stage of entrepreneurship.
Between this Startup State Initiative, Utah’s dedication to improving the user experience via an updated business registration system, and the overall positive economic outlook for the state, we can expect to continue to see rises in Utah business applications in 2025.
Angela is the Director of Online Marketing at altLINE where she manages content production, marketing and sales operations, and digital PR. Angela joined altLINE in 2022 after several years of working in digital marketing across various industries including financial services and B2B. Angela loves creating content that helps readers better understand their financing options and helps them make informed decisions about factoring. Her work has been featured in publications like Search Engine Journal and Moz.
