Salt Lake City has emerged as a vibrant hub for entrepreneurs and small business owners, offering a wealth of resources and programs designed to foster innovation and economic growth. Whether you’re launching a startup or expanding an existing business, the city provides numerous avenues to support your journey.
City-Sponsored Initiatives
Department of Economic Development
The Salt Lake City Department of Economic Development serves as a pivotal resource for businesses at all stages. They offer assistance in securing funding, navigating growth opportunities, and connecting with key industry partners. Their focus areas include small business support, corporate recruitment, business retention and expansion, and foreign trade. Notably, the Economic Development Loan Fund aims to stimulate business growth and create jobs by providing loans to viable businesses that yield strong economic returns and positive social and environmental impacts.
e2 Business Program
For businesses aiming to enhance their environmental and economic sustainability, the e2 Business Program offers free participation to any business within city limits. This program provides assistance in streamlining operations, reducing environmental impact, and saving money. Members gain access to a network of like-minded businesses, case studies, and tools to support sustainable practices.
Community and Nonprofit Support
InnovateSLC
InnovateSLC, developed and facilitated by Kinect Capital (formerly VentureCapital.Org), offers an accelerator program designed to equip startups with the tools and resources needed to grow their businesses and bring innovations to market. This intensive course supports entrepreneurs in various industries, fostering a dynamic startup ecosystem in the city.
Entrepreneurs’ Fellowship
The Entrepreneurs’ Fellowship (EF) is a community-focused group dedicated to all aspects of business and entrepreneurialism. EF provides education, strategic connections, and networking opportunities to business founders, owners, operators, directors, and investors. Participation in EF events is typically free, emphasizing support and collaboration within the entrepreneurial community.
Craft Lake City’s Youth Entrepreneur Program
For young, aspiring entrepreneurs, Craft Lake City offers the Youth Entrepreneur Program powered by VentureLab. This free, after-school program is designed for artisans aged 12-18, providing workshops that build creative and business skills. Participants receive mentorship and gain real-world experience by selling their work at Kid Row during the Annual Craft Lake City DIY Festival.
Workforce Development
Building a skilled workforce is crucial for business success. The Department of Economic Development connects businesses with education and training programs, recruitment and hiring support, and upskilling opportunities for employees. Collaborations with universities, colleges, and technical schools ensure that businesses have access to a talented and diverse workforce.
By leveraging these resources and programs, entrepreneurs in Salt Lake City can navigate the challenges of starting and growing a business with confidence. The city’s commitment to fostering a supportive environment for businesses underscores its role as a thriving center for innovation and economic development.