This week on the Utah Business Report

Friday, June 14th, 2013

In case you missed one or more of the Salt Lake Chamber’s Utah Business Reports on KSL News Radio, here is a recap of what we talked about this week.

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Utah Business Week is celebrating its 32nd year this summer.

The week-long business camp is held on the campus of Utah State University from July 28 through August 3.

At Utah Business week, high school students interested in business get hands on experience building a business and competing with their peers.

Students will learn first-hand from business leaders what it takes to succeed in business, from marketing to business ethics.

Utah Business week costs just 100-dollars—that’s less money than what you would pay to feed a teenager for a week!

So if you have a student who will be a high school junior or senior in the fall of 2013, go to www.UtahBusinessWeek.com today. Space is limited and registration closes this Friday, June 14.

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33 small business owners recently graduated from Utah’s inaugural Goldman Sachs 10,000 Small Businesses program.

Eleven sessions and more than one hundred hours of training from Salt Lake Community College supported business growth by boosting operations and creating job opportunities.

Over the last five months, the business owners who participated created more than 100 jobs.

Businesses ranging in industries participated and 17 of the 33 were women-owned, which is the largest group of women that have participated in a single cohort since the program launched in 2009.

10,000 Small Businesses is a $500 million investment that gives entrepreneurs greater access to education, financial capital and business support services. More than 1,300 businesses have participated nationwide.

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While the nation is stuck in a slow recovery, Utah’s economic status is one to envy. The sixth edition of the “Rich States, Poor States” study recently listed Utah has having the Best Economic Outlook in the nation.

This is the sixth year in a row Utah has received this ranking.

Fifteen important state policy variables go into the Economic Outlook rankings. Utah ranked in the top 10 in almost half of them—making it one of the best performing states.

“Rich States, Poor States” also listed Utah as having the third best Economic Performance overall, coming in behind Texas and Nevada. The combined scores give Utah an overall number one ranking.

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Ten professional cycling teams have accepted invitations to compete at the 2013 Larry H. Miller Tour of Utah. The race this year will take place August 6 – 11, starting in southern Utah.

Many of the cycling teams are among the best in the world. Miller Sports Properties COO Steve Miller says cycling fans should be excited to see such a solid group of top-rated pro teams from around the globe.

The Tour of Utah was elevated to a 2.1-rated stage race by the UCI in 2011. It continues to be one of the top stage races in North America.

The Tour of Utah is still looking for volunteers to help with the week-long race. You can find out more at TourOfUtah.com.

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For the full reports from this week and weeks past, visit KSL Radio online. Remember to tune in between 12:30 and 1 p.m. to KSL NewsRadio every week day on 102.7 FM or 1160 AM. If your business is doing something great, let us know and we may just feature it on the Utah Business Report. 

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33 graduate from 10,000 Small Businesses, create 100+ jobs

Wednesday, May 29th, 2013

Last week, the 33 small business owners graduated from Utah’s inaugural Goldman Sachs 10,000 Small Businesses program cohort. The program, an overall $500 million investment, helps entrepreneurs create jobs and economic opportunity by providing them with greater access to education, financial capital and business support services.

The 33 graduates were selected out of a pool of 103 applicants to participate in the program on scholarship. Eleven sessions and more than one hundred hours of training from Salt Lake Community College (Goldman Sachs’ education partner in Utah) supported business growth by boosting operations and creating job opportunities.

“Goldman Sachs chose Salt Lake Community College because of our commitment to advance economic and workforce development,” SLCC President and CEO Dr. Cynthia Bioteau said in her Salt Lake Tribune op-ed. “The college’s first cohort of 33 companies has already created more than 80 new jobs — a remarkable accomplishment with just months of training.”

As it turns out, those numbers are actually even stronger. The business owners who participated in the 10,000 Small Businesses program created more than 100 jobs in the last five months. Those efforts boost other job creation goals including the Utah Jobs Agenda, a ten-point plan crafted by the Chamber to create 150,000 in five years, and Gov. Herbert’s plan to create 100,000 jobs in 1,000 days.

The graduates had nothing but glowing comments about the program, saying the best of the best were teaching and mentoring them, and that the resources and support they received were immensely helpful in furthering their business.

“The program helped me secure a line of credit to expand our business,” said Frank Dsouza, the owner of Seaich Corp., a Salt Lake City designer and importer of women’s accessories. He added three new employees to his business with help from 10,000 Small Businesses. “I needed financial resources, and the next thing I knew, I was in front of angel investors and bankers willing to do business with me. Growing up in India, I did not have an opportunity to further my education, so this was a dream come true,”

The businesses represented by the 10,000 Small Businesses participants covered a broad spectrum of industries, including manufacturing, transportation, design, retail, human services and more. Of the 33 businesses represented, 17 were women-owned making this the largest group of women that have participated in a single cohort since the program launched.

“Most of our large companies are not growing U.S. jobs, in fact many are doing the opposite,” wrote Jackie Zehner, CEO of Women Moving Millions, who attended the 10,000 Small Businesses graduation. “But the clouds parted on my gloomy view and the sun came out. Actually 33 suns came out. They were the smiling faces of the 33 graduates of the first cohort of the Salt Lake City 10,000 Small Business Program. In sharing their stories they gave me renewed hope that we can create jobs and grow our economy one business, one person at a time. Congratulations!”

If your business is past the start-up phase and ready to grow, now is the time to apply for the next cohort set to start this August. The application deadline is, Monday June 3. Learn more about applying at www.slcc.edu/10ksb.

Click here for the Salt Lake Tribune’s story on the 10,000 Small Businesses graduation.

Across the nation, more than 1,300 small business owners have participated in 10,000 Small Businesses program. Within six months of graduating, approximately 63 percent report increases in their revenues and 45 percent reported creating net new jobs in that same time frame.

With support of Governor Herbert, Goldman Sachs and the Goldman Sachs Foundation the program launched in Utah in July 2012. SLCC delivers the education portion of the program while capital is provided by Mountain West Small Business Finance. the State of Utah, Salt Lake Community College, Mountain West Small Business Finance, the Salt Lake Chamber, the Utah Hispanic Chamber, the Pete Suazo Business Center and the Utah Small Business Development Centers Network.

The program is currently operating in Chicago, Cleveland, Houston, Long Beach, Los Angeles, New Orleans, Philadelphia, New York and Salt Lake City and capital only states—Kentucky, Montana, Oregon, Tennessee and Washington

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This week on the Utah Business Report

Saturday, May 11th, 2013

In case you missed one or more of the Salt Lake Chamber’s Utah Business Reports on KSL News Radio, here is a recap of what we talked about this week.

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Great teams need great leaders.

Each year, Utah Business magazine recognizes the state’s top CEOs—those who have provided leadership, vision and decisive strategy for their organizations. This year, SelectHealth CEO and president Patricia Richards was recognized as “CEO of the Year.”

Under Richards’ leadership, SelectHealth has expanded into new product lines and geographic locations. In 2012 alone, SelectHealth expanded its offerings in Idaho through a new alliance with St. Luke’s Health System, the state’s largest health system. SelectHealth also introduced new Medicare Advantage and Medicaid plans.

Richards says SelectHealth plays an important role in improving the health of its members and the communities it serves. She believes SelectHealth has an unprecedented opportunity to be a catalyst and an active participant in changing how health care is delivered and how the individual experiences health care.

Congratulations, Patricia Richards and SelectHealth for this recognition.

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Tomorrow and Thursday marked the Third Annual Utah-Europe Days.

This two-day conference will join Utah companies with international experts and 15 trade representatives from various European countries to discuss the business climate in Europe and potential opportunities for enterprising Utah companies.

Topics discussed will include the Euro currency crisis, technological innovation in Europe and demographic changes. Businesses will also learn how to enter the European markets, and get inside information on Europe’s health care, energy, life sciences and tourism sectors.

Countries represented at the Utah-Europe Days include Bulgaria, the Czech Republic, Croatia, France, Germany, Hungary, Luxembourg, the Netherlands, Norway, Spain, Turkey and the U.K.

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Music holds immense potential to impact the quality of life for individuals with dementia. It is a form of sensory stimulation, which provokes responses due to familiarity, predictability and feelings of security. Seeing and hearing professional musicians perform has a positive impact on functionality with these individuals and often encourages reminiscence, conversations and endearing connections otherwise forfeited.

Utah Symphony-Utah Opera in collaboration with the Utah Chapter of the Alzheimers Association has dubbed May 2013 as Making Sense of Alzheimer’s Month. This collaboration started four years ago with the goal of increasing concern and awareness regarding Alzhiemer’s and related dementia in Utah.

Throughout this month, Utah Symphony and Utah Opera musicians are volunteering their time to perform at local assisted living communities.

Complimentary tickets for Utah Symphony Utah Opera events on May 13, 24 and 25 are available to care recipients with Alzheimer’s disease and other related dementia. Family members and caregivers can attend for 20 percent off standard prices.

You can find more information at UtahSymphony.org.

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Tourism makes up a significant portion of Utah’s economy, creating jobs and tax revenues. As one of Utah’s largest industries, tourism generates $6.9 billion in traveler spending every year and $890 million in state and local taxes.

Next week, St. George will host the 10th Annual Utah Tourism Conference at the Dixie Convention Center from May 14th to May 16th. The conference is co-sponsored by the Utah Office of Tourism and the Utah Tourism Industry Coalition.

Vicki Varela, managing director of the Utah Office of Tourism, Film, and Global Branding, says it’s important for industry partners to gather once a year to brainstorm, share successes and collaborate to make sure tourists experience the very best of Utah Life Elevated.

President of the coalition Marian DeLay says this conference is an excellent opportunity for businesses around the state to learn about what is new in the industry, what is working well for others, and how the efforts of all the state’s businesses collectively make the industry stronger and more cohesive.

Visit UtahTourism.org to register for the Annual Utah Tourism Conference.

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Goldman Sachs recently announced the launch of their new partnership between its 10,000 Small Business program and The Huffington Post. The partnership features a new section of the website called “What is Working: Small Businesses.”

Over the next few months Goldman Sachs and The Huffington Post will be partnering to curate and create content highlighting the power and impact of small businesses on economic growth, and positive models for change in the space.

This will be a helpful resource for the small business community, as each month will feature a different theme, from finance to leadership to marketing and more. It will also provide opportunities for entrepreneurs to contribute their voices as well.

Through Goldman Sachs’ 10,000 Small Businesses program, $500 million will be invested into the growth of 10,000 small businesses all across the country to help increase job creation and economic growth. Visit slchamber.com for more information.

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For the full reports from this week and weeks past, visit KSL Radio online. Remember to tune in between 12:30 and 1 p.m. to KSL NewsRadio every week day on 102.7 FM or 1160 AM. If your business is doing something great, let us know and we may just feature it on the Utah Business Report. 

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This week on the Utah Business Report

Friday, March 29th, 2013

In case you missed one or more of the Salt Lake Chamber’s Utah Business Reports on KSL News Radio, here is a recap of what we talked about this week.

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Taylor Capital Group LLC recently changed their business name to Taylor-Derrick Capital LLC.

With news of the name change, Taylor-Derrick Capital Group also reported fourth quarter returns of 3.75 percent for the Mountain West Debt Fund, LP. For the complete 2012 year, Mountain West Debt Fund had unaudited returns totaling 17.45 percent.

So, what does that mean? Well, it’s a reflection of the demand for new construction in the western United States—which is a very good thing for our economy. Housing and construction fell with the Great Recession, and their return signals an economy growing stronger.

The Mountain West Debt Fund consists of pooled, private capital invested in real estate-secured loans to developers in the mountain west states and California.

Taylor-Derrick Capital Group is the general partner and investment manager of the fund. They have offices right here in Salt Lake City, and Henderson, Nevada.

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The Chamber is proud to announce that A Giant in Our City, Utah’s most prestigious business award, will have two honorees this year: Harris H. Simmons, the president, chairman and chief executive officer or Zions Bancorporation, and A. Scott Anderson, president and chief executive officer of Zions First National Bank.

Simmons and Anderson will become the 33rd and 34th recipients of the award in its 43-year history. These two men have helped strengthened businesses across Utah, supported of important community programs, and made unsurpassed contributions to the quality of life of all Utahns.

A black-tie gala honoring these two men will take place tomorrow, March 27. A reception will begin at 6 p.m., followed by dinner and a program at 7 p.m. The event will be held in the Grand Ballroom at The Grand America Hotel.

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Smith’s Food and Drug Stores recently released its 2012 Report to the Community, which highlights $10 million worth of cash and products donated to more than 2,200 nonprofit organizations spanning seven western states. This total includes $4.2 million contributed to 983 schools and nonprofit charities in Utah.

Smith’s charitable giving program known as “Neighbor to Neighbor” provided an average donation of near $75,000 per store location throughout Smith’s seven western states of operation.

Smith’s assistance is primarily focused in the following areas: fighting hunger, supporting K-12 education, children’s hospitals, promoting women’s health (primarily breast cancer), the development of minorities and women, as well as support for local grassroots organizations.

Smith’s is a division of the Kroger Company, one of the nation’s largest retail grocers. From its headquarters in Salt Lake City, Smith’s manages 131 stores and 75 fuel centers throughout Utah, Nevada, New Mexico, Wyoming, Montana, northern Arizona and southern Idaho.

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To all of you baby boomers out there, it is not too late to reinvent yourself, rekindle old passions and start your journey to a better you. It’s officially spring now… and here’s your opportunity.

Next Saturday, April 6th, is a special seminar to help you discover new pathways leading to innovative experiences and improved lives–it’s called Enhancing Your Life After 50.

There will be panel discussions, break-out sessions on Retirement Planning and Financial Independence; Veterans Benefits; and Looking, Feeling and Being at Your Physical Best. You will also have the opportunity to sign up for volunteer projects and activities around the valley.

If you bring your old eyeglasses, sunglasses or reading glasses, you will receive a $2 discounts off the admission fee. Donated glasses will go to the “Eyeglasses for Uganda” project, which will present a special YouTube video.

Again, the Enhancing Your Life After 50 will take place on April 6th at the SLCC Sandy Campus.

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Utah’s small businesses have another opportunity to take advantage of the Goldman Sachs 10,000 Small Businesses program at Salt Lake Community College. This initiative helps create jobs and economic opportunity in Utah.

Salt Lake Community College is currently seeking small business owners to participate in the second training cohort, which will begin on August 16th. Applications are being accepted now through June 3rd.

Goldman Sachs 10,000 Small Businesses is an education program for business owners who have survived the start-up phase and are poised for growth. Accepted participants will receive a full scholarship to the program.

Interested business owners are invited to attend an information session to learn more about the program and the application process. The sessions will take place at the Salt Lake Community College at the Miller Campus in Sandy, on April 12th and May 23rd from 8:30 a.m. to 10 a.m.

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For the full reports from this week and weeks past, visit KSL Radio online. Remember to tune in between 12:30 and 1 p.m. to KSL NewsRadio every week day on 102.7 FM or 1160 AM. If your business is doing something great, let us know and we may just feature it on the Utah Business Report. 

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10K Small Businesses accepting applications for second training

Thursday, March 14th, 2013

Utah’s small businesses have another opportunity to take advantage of the Goldman Sachs 10,000 Small Businesses program at Salt Lake Community College. This initiative, part of a partnership with the Salt Lake Chamber, helps create jobs and economic opportunity in Utah.

Salt Lake Community College is currently seeking small business owners to participate in the second training cohort, which will begin on August 16.  Applications are being accepted now through June 3.

Goldman Sachs 10,000 Small Businesses is an education program for business owners who have survived the start-up phase and are poised for growth. Accepted participants will receive a full scholarship to the program, which includes comprehensive business management education curriculum, a suite of business support services such as one-on-one business advising and networking clinics, and opportunities to access capital.

Interested business owners are invited to attend an information session to learn more about the program and the application process.

The following information sessions will be held at:

Salt Lake Community College at the Miller Campus, 9750 South 300 West, in Sandy.

- March 14, 6:00 p.m. – 8:00 p.m., Miller Free Enterprise Center, Room 203
- April 12, 8:30 a.m. – 10:00 a.m., Miller Professional Development Center 220
- May 23, 8:30 a.m. – 10:00 a.m., Miller Professional Development Center 220

To register for an information session, learn more about Goldman Sachs 10,000 Small Businesses, or to start an application visit www.slcc.edu/10ksb

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Apply for 10,000 Small Businesses before October

Wednesday, September 5th, 2012

The Chamber is pleased to announce the launch of the Goldman Sachs 10,000 Small Businesses (GS 10KSB) program in Salt Lake City, Utah, a 15 million dollar investment to provide regional small business owners with a practical business education, access to capital and business support services.

Salt Lake Community College is delivering the program in partnership with the Salt Lake Chamber and with the Pete Suazo Business Center, the Salt Lake Small Business Development Center, the Utah Hispanic Chamber of Commerce and the Utah Small Business Development Center Network.

To date, over 780 small business owners have participated in Goldman Sachs 10,000 Small Businesses program in seven cities across the U.S. Approximately 70 percent of the alumni from the program have grown their revenues and 50 percent have created new jobs.

The 10,000 Small Businesses curriculum has been designed and will be co-delivered by Babson College, the national leader in entrepreneurship education. The program is offered at no cost to eligible business owners and begins in January 2013.  Business owners can learn more about eligibility criteria and apply to participate at www.slcc.edu/10ksb. The deadline for applications is October 1. 

Salt Lake Community College is offering a number of information sessions and application workshops for business owners interested in participating in the GS 10KSB program, which are listed below.

Information sessions will be held at the College’s Miller Campus:

- September 14, 8:00 a.m. – 10:00 a.m., Miller Professional Development Center, Room 224

Application workshops will be held at the College’s Miller Campus and at the Library Square Campus:

- September 6, 6:00 p.m. – 8:00 p.m., Library Square Campus, Room 111
- September 20, 6:00 p.m. – 8:00 p.m., Miller Campus–Miller Corporate Partnership Center, Room 330
- September 27, 6:00 p.m. – 8:00 p.m., Library Square Campus, Room 111

To register for any of the above information sessions or application workshops visit www.slcc10ksb.com/key-dates.

Business owners can learn more about eligibility criteria and apply to participate by the October 1 deadline at www.slcc.edu/10ksb.

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This week on the Utah Business Report

Friday, August 10th, 2012

In case you missed one or more of the Salt Lake Chamber’s Utah Business Reports on KSL News Radio, here is a recap of what we talked about this week.

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We talked about the $15 million small business initiative launched by Goldman Sachs, the Governor’s Office of Economic Development (GOED) and Salt Lake Community College. It’s called 10,000 Small Businesses, and it aims to help such businesses nationwide in an effort to create jobs and boost local economies.

SLCC’s School of Professional and Economic Development will be in charge of the education and training part of the program. The program will kick off in January 2013, and applications are being accepted right now. For more information, visit slcc10ksb.com.

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As part of the Chamber’s 125th anniversary, we want to share the rich history of the members that have made the Chamber so successful.

Founded in 1953 by Merrill and Lucille Christopherson in Salt Lake City, Christopherson Business Travel has been Utah’s business travel leader for more than 50 years.

Today, Christopherson operates three full-service locations in Utah, Colorado and California, employs more than 250 travel professionals and serves over 900 national clients.

A certified woman-owned Utah corporation, Christopherson currently ranks as the largest travel agency in Utah and the 14th largest in the nation. Named by the Salt Lake Chamber as Small Business of the Year in 1996, Christopherson won the Best of State award in 2010 and 2011, has been recognized as one of Utah’s fastest growing companies, and was listed on Travel Weekly’s 2011 Power List.

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U.S. Bank is presenting a total of 46-thousand dollars in grants to ten nonprofit organizations in the Greater Salt Lake area. These organizations support arts and culture, economic opportunity and education in the community.

Economic opportunity grants support organizations that provide affordable housing, encourage self-sufficiency, and assist economic development. Educational grants are provided to innovative programs that help low-income and at-risk students succeed in school and prepare for post-secondary education.

The organizations that received grants include Chamber members Big Brothers Big Sisters of Utah and Junior Achievement of Utah Incorporated for education, and also The Road Home for economic opportunity.

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Zions Bank business clients have a new option for managing their accounts on the go. Zions recently launched a free smartphone app called Business Mobile Banking.

The app enables clients to check account balances, monitor recent account activity, transfer funds between their Zions Bank accounts, pay bills, and review and cancel scheduled bill payments. The Business Mobile Banking app has the same security features as Zions Online Banking. No personal data or account information is stored in the phone.

Business Mobile Banking is available on Apple’s App Store and in Android’s Google Play. It is also accessible through a compatible phone’s web browser at ZionsBank.com.

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The Utah Educational Savings Plan is one of only seven other 529 savings plans in the nation that received a dual 5-cap rating from SavingForCollege.com, an independent website informing families and financial advisers about 529 plans.

The 5-Cap Rating system awards five caps to programs that offer outstanding flexibility, attractive investments and economic benefits that provide a substantial boost to an account owner’s savings. 529 plans are given two ratings, for their treatment of in-state participants and on their treatment of out of state participants. UESP earned five caps in both categories.

UESP requires no minimum deposits or balances to open an account, so families can save a little or a lot, according to their own schedules. Earnings on UESP accounts grow tax deferred and are federal and Utah state income tax free when used for qualified higher education expenses at any eligible educational institution that participates in federal financial aid programs for students.

You can start your educational savings plan today at UESP.org.

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For the full reports from this week and weeks past, visit KSL Radio online. Remember to tune in between 12:30 and 1 p.m. to KSL News Radio every week day on 102.7 FM or 1160 AM. If your business is doing something great, let us know and we may just feature it on the Utah Business Report. 

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Goldman Sachs, SLCC and GOED launch $15 million small biz initiative

Wednesday, July 18th, 2012

What is important for your small business to succeed? Education and training? Access to financial capital? How about access to support services?

In an effort to boost economic and job growth while providing small businesses with all of these things, the Governor’s Office of Economic Development, Salt Lake Community College and Goldman Sachs announced a $15 million partnership today. The initiative is called 10,000 Small Businesses.

“As the number of small businesses in Utah has increased steadily for the past decade, we know that the success of the local economy depends on helping these businesses grow and create jobs,” said Governor Herbert. “Our partnership with Goldman Sachs 10,000 Small Businesses will give business owners the support they need to achieve this growth.”

Through Goldman Sachs’ 10,000 Small Businesses program, $500 million will be invested into the growth of 10,000 small businesses all across the country to help increase job creation and economic growth. Already, the completion rate for this program is at 99 percent, which is expected to make a significant difference in job creation and economic growth.

“Goldman Sachs maintains its second largest campus in North America in Salt Lake City, and we see the importance of a strong, vibrant business community,” said Esta Stecher, Chief Executive Officer of Goldman Sachs Bank USA. “We have witnessed first hand the dedication of local leaders to supporting businesses of all sizes in the area, and this is one reason we think 10,000 Small Businesses will be successful in Utah.”

For this five-year initiative in Utah, Goldman Sachs will contribute $10 million of lending capital to small businesses. In Utah, there are over 60,000 small business owners, or entrepreneurs, that could benefit from this program.

SLCC’s School of Professional and Economic Development will be in charge of the education and training part of the 10,000 Small Businesses program. Each year of the program, approximately 60 to 80 business owners will be admitted. The program will kick off in January 2013, and applications are now being accepted. You can download an application here.

“Salt Lake Community College holds as core to its mission the personalized attention to students, professionals and employers in Utah. Supporting the advancement of their careers and businesses is key to our workforce development goals and fits intimately with the goals and curriculum of Goldman Sachs 10,000 Small Businesses,” said Dr. Cynthia Bioteau, President of Salt Lake Community College. “This program is what Utah is about: collaboration and public-private partnerships to better the economy.”

Business support services will be provided by Goldman Sachs, SLCC, community-based partners and national business organizations, including the Salt Lake Chamber.

To learn more about the 10,000 Small Businesses initiative, visit www.slcc10ksb.com.

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