Every year, MountainWest Capital Network sits down with the founders of Utah’s fastest-growing companies. And every year, two questions keep coming up: 

  1. What makes Utah such a special place to build? 
  2. Looking back, what do you wish you’d known?

So far this year, we have had the opportunity to interview several Utah business leaders to get their input on these two questions, and more. We decided to look back on our conversations with the leaders of nine Utah businesses to see what commonalities they shared that we can give to all of you.

What they shared wasn’t just about business. It was about fear, community, and showing up when it’s hard. Here’s what Utah’s fastest-growing founders know, and what they wish they could tell their younger selves.

Trevor Larson and Andrew Hollis

Trevor Larson is the CEO and co-founder of Nectar, the number one fastest-growing company on the Utah 100 last year. Nectar helps companies build culture through employee recognition, and they’ve grown over 700% in three years. Trevor came to Utah from Arizona for school and never left.

But why? We asked him just that, and here’s what he had to say: “There is no better place to build a software company than Utah,” he says. “The talent here is insane.”

He talks about a generation of successful software exits, like Qualtrics, Pluralsight, and others, that have created a wave of experienced operators in Utah. 

When you add the cost advantages Utah County has compared to Silicon Valley (including a steady pipeline of university graduates), you get a business ecosystem that compounds on itself naturally.

Nectar’s co-founder Andrew Hollis credits something more personal for giving him the courage to start this business. While at BYU, he attended an entrepreneurship lecture series that changed his thinking. After hearing local founders talk to the students, he says the risk felt possible. 

“Hearing the infectious attitude from the local entrepreneurs that took an hour out of their day to come talk to BYU groups, that was it for me. I was like, we have to do this,” he says.

Their story is one of courage and humanity, reminding us that people come first in business.

Bobby Clayson

Bobby Clayson, co-founder of TaxBit and now building Crofter Market, has one of the most original takes on why Utah works. He traces it all the way back to the pioneers.

He argues that Utah is both individualist and collectivist. The pioneers who settled here didn’t just brave the wilderness alone; they did it together as a community with a shared purpose. That combination maps almost perfectly onto what makes companies succeed.

He points to research from business consultancy Zenger Folkman that states companies with strong execution and a strong cooperative spirit succeed at an 80% rate. Companies with only one of the two land somewhere between 20% and 40%.

Bobby says, “I think culturally we actually fit into that 80% category, and you can see that with the fact that we have an outsized number of billion-dollar companies for our population.” 

His story of resilience teaches us what it really takes to live up to greatness and become more than others might expect us to. He shows what building a business is all about.

Matt Bartholomew

Matt Bartholomew, a principal at CliftonLarsonAllen and one of the people behind the Utah Deal Flow Report, puts it in market terms. Utah isn’t trying to be Silicon Valley. It’s something different.

To him, Utah is more sustainable, more efficient, built for the long run. He says, “I call Utah ‘most next wave’ rather than a copycat relative to whether it’s Silicon Valley or other markets.”

His contribution to the Deal Flow Report from 2025 helps us to see the business growth that is happening in Utah. His personal touch to the scene in Utah County is encouraging for all upcoming founders to feel confident in their work.

Kyle Freebairn and Sam Owens

Kyle Freebairn, the CEO of Frazil, the largest and fastest-growing frozen slush brand in the United States, came to Utah for his MBA at BYU and built his whole company here. He sees Utah as a uniquely powerful place to build a brand, not just a business. 

His marketing leans into Utah deliberately. And when a promotion like Free Frazil Friday hits, it spreads fast. Thanks to the influencer scene of Utah, the Frazil business has spread like wildfire.

“Utah influencers are a tightly knit group,” he says. “Once a promotion hit, it just popped up everywhere.”

His co-founder Sam Owens adds that the Silicon Slopes tech community made it easy to recruit people who were entrepreneurial, technologically sharp, and ready for an adventure.

With that great pool of young entrepreneurs, Sam also adds that the networking has grown significantly, which has helped the growth of their business. He says there is “a really strong connection to a lot of people all across Utah, which has been great for recruiting and building out a world-class team.”

Kyle and Sam’s story is inspiring for all young people who are new to the entrepreneur scene. They have shown that you can do anything you put your mind to, no matter how early in the game it may feel for you.

Scott Porter

Scott Porter, founder of San Diablo Artisan Churros, chose Utah over Los Angeles. He describes the entrepreneurial community here as something he’s never encountered elsewhere.

“The abundance mentality that exists here of helping your fellow entrepreneur… I’ve traveled and lived in other parts of the country, and there are good people everywhere, but the environment here is just electric,” he says.

Scott’s story is one that shows us that nothing is impossible in the world of business. He was able to build his artisan churro business in just three short days. As crazy of a roller coaster as it was, his passion shows that it has been worth it.

His story highlights the positive business network that lives and grows in Utah. People are here to help each other and make dreams happen.

Cory Bengtzen

Cory Bengtzen, founder and CEO of SkyShare, the largest private aviation operator in Utah, travels more than almost anyone. That makes his answer all the more meaningful.

When we asked him why he chooses to make Utah his home for his business, this is what he told us: “Utah’s the best place to come home to. It’s the people. It’s the mountains. It’s the business environment. It’s a perfect place for our headquarters.”

Cory took a long path to find his passion in aviation, but it never deterred him from chasing his dream. Having Utah to call home for his business made the decision even easier.

Now, SkyShare helps other private businesses and individuals through their aviation program. What started as one man’s dream has now spread to helping grow the business ecosystem in Utah for everyone around them.

Cory’s story inspires us to stay grounded in what really matters as your business grows. Even when you take to the skies, there’s always a place to call home.

Dr. Stephen Neeleman

Dr. Stephen Neeleman founded HealthEquity in 2002 while still practicing as a trauma surgeon. The company now manages nearly $36 billion in health savings accounts and has appeared on the Utah 100 for 13 consecutive years. 

He started in Arizona and made a deliberate decision to move to Utah. When we asked him why, this is what he said:

“We kept coming back to Salt Lake because of the quality of business professionals, the technology talent, and people who understood healthcare.” He says the people here give “great customer service and are going to work hard and take care of people.”

That kind of environment has been the inspiration for everything HealthEquity stands for. His company continues to help people understand their healthcare benefits.

Dr. Neeleman’s story is a beacon to all entrepreneurs to keep people at the heart of all you do. No matter what monetary value may come your way, the best reward from your work will be the help that people get from your business.

Bud Scruggs

Bud Scruggs, co-founder of The Cynosure Group, puts it plainly: Utah asks something of you.

He says, “If you’re headquartered in Utah, you do have to go the extra mile. You have to let people know this is a company that has values that are universal.”

Bud’s story was not an easy one. Coming from a family that didn’t think he would achieve much in life, he was only expected to do the bare minimum. But once he got out into the world on his own, he realized there was so much more he could do with his life.

His path wasn’t easy, and it had many twists and turns with different careers, but he was able to find his calling. His work today shows that you can truly build yourself up to be something great if you want to.

Mary Crafts

Mary Crafts, CEO, author, motivational speaker, and more, has a story unlike any other. She started in the humblest of beginnings. When she realized she wasn’t providing the life she wanted for her kids, she made it happen.

She built up a well-known catering company that changed life for her family. And after her time came to a close with that company, she didn’t stop growing. She gave her legacy to her children and kept on working.

She is now known as a best-selling author and a motivational speaker for entrepreneurs. Her story is shared for others around the nation to inspire them to keep pushing and reach their goals. The most inspiring part of Mary’s story is that she believes the best is yet to come for her. 

She says, “At this age, I still believe that my very best year is next year because you get this cumulative value of lessons and wisdom.”

Mary’s story continues to grow as she shares her lessons with young leaders for the future. She inspires us to know that we can make our story whatever we want it to be. There is nothing out of reach if you’re willing to work for it.

Lessons For Entrepreneurs

When we asked these founders what they’d tell their younger selves, their answers weren’t about tactics. They were about identity, persistence, and the harder lessons that only make sense once you’ve lived them. Here’s what we have to say to upcoming entrepreneurs to remember from these founders:

  • Get in the arena. Andrew Hollis and Trevor Larson came back to the same idea independently: stop waiting for the perfect plan. Get into the game, and the game will show you what’s next.
  • Get clear on who you are before the pressure hits. Cory Bengtzen built SkyShare over 17 years without a single dollar of outside investment. He wishes he’d done years earlier what he eventually learned: get clear on your core values.
  • Who you work with matters more than how much you make. Bud Scruggs, at nearly 70, has found his greatest satisfaction in helping younger people succeed. The people around you are everything. 
  • Check your ego before it checks you. Bobby Clayson said his ego drove him in a direction that created problems, and it took a pandemic lockdown to really reckon with it. 
  • Stay true to what you’re actually for. Scott Porter’s answer wasn’t about churros. It was about human connection and knowing your mission deeply enough to return to it when things get hard.
  • Invest in people early. Sam Owens and Kyle Freebairn say the clearest lesson is to hire as high as you possibly can, even when it’s uncomfortable. And then be patient.
  • Your best year is still ahead. Mary Crafts built Culinary Crafts into a multimillion-dollar catering company as a single mother on welfare. Her advice isn’t something she figured out young. It’s something she’s still living. 
  • Mentorship is a two-way act of humility. Dr. Neeleman has been mentored by many. After decades of building HealthEquity, he comes back to the same thing that got him started: be humble enough to learn from everyone around you. 

Looking Ahead

Nine companies. Eleven founders. Different industries with different start lines.

The same thread running through every story.

Community, courage, and a state that keeps producing something the rest of the country notices.

The environment you build in shapes the leader you become. These are the lessons of Utah’s founders of the fastest-growing companies.

Want the full story behind our 2026 Compilation?

Listen to the complete MountainWest Capital Network Podcast episode, where these founders share their insights from the last year.

[Listen to the full 2026 Compilation episode here →]

Apple: https://podcasts.apple.com/us/podcast/the-best-of-the-winners-circle-a/id1818372923?i=1000771141321 


Spotify: https://open.spotify.com/episode/1B4sQ6iC7ag7Qc8JozFsj2?si=7ea44f0c7ddd4df0 

Guests mentioned in this episode: