States Most Likely to Start a Small Business in 2024: Utah Tops the Ranking

Utah is the state with the most people looking to start a new business in the new year, according to a new study.

Business ideas and information site The Small Business Blog analyzed search data from Google Keyword Planner for more than 100 terms related to the term ‘side hustle’ and ‘small business.’

The average number of monthly searches for these 100 search terms were calculated for each state as a proportion of 100,000 residents.

Utah was found to have the most people looking to begin a new business in 2024, with 365 searches on average every month per 100,000 people. The most Googled search terms in Utah included, ‘side hustle’ and ‘side hustle ideas.’

Arizona has the second highest proportion of people looking for a side hustle or to start a small business with 357 searches on average every month per 100,000 people. 

The top searched terms in Arizona included ‘side hustle,’ ‘small business owner,’ and ‘side hustles from home.’

In third place is Colorado with 351 average monthly searches per 100,000 people. The top searched terms in Colorado included ‘small businesses,’ how to start small business’ and ‘easy side hustle.’

In Colorado, there are 691,230 registered small businesses in the state.

In fourth place is New York with 330 average monthly searches per 100,000 people. The top searched terms in New York included ‘side hustle,’ ‘side gig’ and ‘startup business.’

There are 2.2 million small to medium enterprises in New York as of 2023.

Next, in fifth place, is Nevada with 318 average monthly searches per 100,000 people. The top searched terms in Nevada included ‘small business owner,’ ‘how to start small business,’ ‘side hustles that make money’ and ‘making money from home.’

Nebraska is in sixth place with searches of 308 searches per 100,000 people each month on average. Top searches in the state include ‘best side hustles,’ ‘small businesses’ and ‘how to start side hustle.’

In seventh and eighth place respectively, are Georgia and Oregon. Georgia produces 305, while Oregon had an average of 304 searches per 100,000 people.

At ninth are Pennsylvania and Texas. They both had 302 searches on average per 100,000 people. Pennsylvania has just under 1.1 million small to medium businesses registered in the state to date, while Texas has 3.1 million.

In 10th place is Missouri with 301 searches on average per 100,000 people.

The state with the least people looking for a side job on average was Mississippi, with 202 searches per 100,000 people.

South Carolina ranked No. 25, with 267 searches per 100,000 people. 

“The cost of living across America has risen drastically and it has become necessary for many households to seek additional sources of income whether this be in the form of a side hustle or a fully-fledged small business,” said a spokesperson for The Small Business Blog.

“In fact, according to the Bureau of Labor Statistics report there has been an 8.29 percent increase since 2021 of Americans having more than one job.”

HYDERA, a Portfolio Company of Pacolet Milliken, Announces Successful JV Partner Buyout, Continued Growth in 2023

HYDERA, a wholly owned portfolio company of Pacolet Milliken, announced the previously-completed acquisition of OURAY's interest in the joint venture and a successful finish to 2023, the company's first full year of operations.

Located at Bushy Park in Goose Creek, South Carolina, HYDERA is a full-service International Organization for Standardization (ISO) container depot that specializes in servicing the needs of the bulk liquids transportation industry.

HYDERA provides cleaning, storage, heating, repair, testing and maintenance of ISO containers.

Officials said the business capped a successful 2023 marking several significant milestones, including an injury-free safety record, the successful JV partner buyout, and significant year-over-year growth in revenue and profitability.

"Pacolet's acquisition of the remaining equity interest in HYDERA positions the business to continue its strong growth and demonstrates our commitment to building a leading ISO tank services provider in the Charleston market and beyond," said Kent Fonvielle, co-Head and COO of Pacolet Power & Infrastructure.

Headquartered in Greenville, South Carolina, Pacolet is a family owned investment firm that owns and manages a diverse set of power and infrastructure and real estate assets located across the United States.

Pacolet Power & Infrastructure owns a diverse set of power, renewables and infrastructure assets, including a regulated electric portfolio, an industrial utilities company and a substantial solar and landfill gas portfolio.

Pacolet Real Estate has a national portfolio of industrial, multi-family, office, and retail properties, and focuses on multi-family and industrial warehouse development in the Southeast, the Southwest and Southern California. 

Fifth Third Bank Opens First Branch Location in Spartanburg

On Wednesday, Jan. 17, 2024, Fifth Third Bank, National Association, hosted a ribbon-cutting ceremony at the bank’s first location in Spartanburg, South Carolina.

Fifth Third has been adding locations across the Upstate since opening the first branch location in Greenville in 2020.  

“Investment in South Carolina is a priority for Fifth Third and we are thrilled to open our first financial center in Spartanburg,” said Lee Fite, president, Fifth Third Bank, Carolinas Region.

Fite added, “We have been successfully serving the Upstate for over 10 years and have expanded our operations into Charleston under the leadership of Charlie Arndt. Our customers can count on our South Carolina retail team to listen and support their interests throughout the Palmetto State.”

As part of the grand opening celebration at Fifth Third Bank’s first banking center in Spartanburg, Jamie Leonard, COO, Fifth Third Bank, along with other national and local bank representatives presented a check in the amount of $10,000 to The Bethlehem Center Food Bank.

The mission of The Bethlehem Center is to support, strengthen, and inspire individuals and families as well as to facilitate opportunities for personal and community advancement.

The banking center in Spartanburg, at 1585 E. Main St., is part of a planned expansion for Fifth Third in South Carolina, with national headquarters in Cincinnati, Ohio, and regional headquarters in Charlotte, N.C.

Fifth Third Bank expects to open at least three more locations in Spartanburg County.

The branch features:

* Mobile bankers using technology that allows them to meet and serve customers in a variety of settings. Rather than having teller “windows,” the new space gives employees the freedom to move around the lobby. Tablet computers encourage a more direct and personal way of serving customers.

* A tech wall with a dynamic digital screen. 

* Flexible meeting and seating areas, with layers of privacy that can adjust depending on the need and type of conversation taking place.

In November, Fifth Third Bank said it had agreed to a multi-year deal with Diamond Baseball Holdings, an organization that owns and operates select Minor League clubs affiliated with Major League Baseball, to become the official bank and naming rights sponsor for Spartanburg’s new state-of-the-art ballpark, the future home of the city’s professional baseball team.

SCMA Announces the Inaugural Class of the SC Manufacturing Leadership Program

The South Carolina Manufacturers Alliance (SCMA) announced its inaugural class of the SC Manufacturing Leadership Program, comprised of 19 professionals representing a variety of manufacturing industry sectors and ranging from small businesses to multinational corporations.

“The SCMLP inaugural class is a cross-section of what makes South Carolina’s thriving manufacturing industry so unique,” said Sara Hazzard, president and CEO of the SCMA. “Participants represent the automotive, aerospace, chemical, tire, textile, energy, and consumer products manufacturing industries, among others, and are from across South Carolina."

Hazzard added, "Their backgrounds are as diverse as the companies they represent and include business, operations, finance, human resources, and government relations. The distinct experiences, skills, and knowledge each participant brings is an important element of the program as we grow the next generation of South Carolina’s manufacturing leaders.”

Through the intensive one-year experience participants will learn from internationally recognized faculty, accompanied by business leaders and subject matter experts from across the state’s manufacturing industry.

Partnering with the Executive Education Center at the Darla Moore School of Business of the University of South Carolina, the program will include these areas of study: Global Growth, Organizational Strategy, Advancements in Technology, Supply Chain Management, Corporate Culture, Leadership and Personal Development.

Graduates of the SCMLP will receive an industry-recognized credential. The launch of SCMLP is made possible through the support of The Boeing Company, Dominion Energy, Duke Energy and Sage Automotive Interiors.

The inaugural class includes:

* Dayna Babb, Sage Automotive Interiors

* Weston Cavett, Mercedes-Benz Vans, LLC

* Stacey Chapman, Milliken & Company

* Robert Coker, US Brick, LLC

* Edward Downing, The Boeing Company

* Clint Floyd, American Honda Motor Co., Inc South Carolina Manufacturing

* Samantha Furr, Michelin North America

* Lane Grant, Nucor Steel Berkeley

* Rebecca Grizzle, AO Smith

* Christopher Holtzclaw, William Barnet & Son, LLC

* Jonathan Jackson, Surteco, North America

* Nate McGaughey, Nucor Steel Berkeley

* Patricia Merritt, Sage Automotive Interiors

* Weston Mott, Lockheed Martin

* Hunter Mottel, Sleep Number

* James Roberts, Intertape Polymer Group

* Schleta Sweat, The Boeing Company

* Jonathan Yarborough, Dominion Energy South Carolina

* Tate Zeigler, South Carolina Ports Authority.

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