Salt Lake City has become a vibrant hub for entrepreneurs and small businesses, thanks to a variety of resources and programs designed to foster innovation and economic growth. Whether you’re launching a startup or expanding an existing business, the city offers numerous opportunities to support your journey.
City-Sponsored Initiatives
Department of Economic Development
The Salt Lake City Department of Economic Development serves as a trusted partner for businesses at all stages. They offer tailored assistance in securing funding, fast-tracking startups, and navigating growth opportunities. Key programs include:
- Economic Development Loan Fund (EDLF): Aims to stimulate business growth, create jobs, and enhance neighborhood vitality by providing loans to viable businesses that yield strong economic returns and positive social and environmental impacts.
- e2 Business Program: Dedicated to helping Salt Lake’s business community operate in a more environmentally and economically sustainable manner. Participation is free for businesses within city limits.
For more information, visit the Department of Economic Development’s website.
Educational and Mentorship Opportunities
The Mill Entrepreneurship Center
Located at Salt Lake Community College, The Mill offers a mentorship-driven program assisting innovative and scalable startups. Entrepreneurs can access resources, training, and networking opportunities to accelerate their business growth.
University of Utah Lassonde Entrepreneur Institute
This nationally ranked hub for student entrepreneurship and innovation provides interdisciplinary programs and resources to support aspiring entrepreneurs. The institute offers workshops, competitions, and funding opportunities to help turn ideas into viable businesses.
Community Support and Networking
Entrepreneurs’ Fellowship
The Entrepreneurs’ Fellowship (EF) is a community-focused group dedicated to all aspects of business and entrepreneurship. EF provides education, strategic connections, and networking opportunities to support business founders, owners, operators, directors, and investors. Participation in most events is free, fostering a collaborative environment for local entrepreneurs.
Craft Lake City’s Youth Entrepreneur Program
For younger aspiring entrepreneurs, Craft Lake City offers a Youth Entrepreneur Program powered by VentureLab. This free, after-school program provides workshops where youth build creative and business skills, receive mentorship, and gain real-world experience selling their work at events like the Annual Craft Lake City DIY Festival.
Workforce Development
Building a skilled workforce is crucial for business success. The Department of Economic Development collaborates with educational institutions and community organizations to create clear pathways into the city’s fastest-growing industries. They offer resources for education and training programs, recruitment and hiring support, and upskilling opportunities for employees.
By leveraging these resources and programs, entrepreneurs and small business owners in Salt Lake City can access the support they need to thrive in a dynamic and growing economy.