Salt Lake Chamber and Women’s Business Center of Utah Launch Diverse-Owned Business Accelerator

The Salt Lake Chamber and the Women’s Business Center of Utah are now accepting applications for its Diverse-Owned Business Accelerator. The seven-week cohort program, sponsored by Bank of America, was designed for diverse small business owners to enhance skills, direction or strategy for their businesses.

The first cohort will consist of 25-30 people and will run from February 16 through March 30, 2023. The lessons will run four hours per week on Thursdays at 9:00 AM. The lessons will be held in-person at Salt Lake Community College West Valley Center (3460 S 5600 W, West Valley City). All accepted applicants participate at no financial cost, courtesy a grant from Bank of America valued at $5,000 per person.

“This is the logical next step in the Chamber’s efforts around diversity and inclusion,” said Derek Miller, President and CEO of the Salt Lake Chamber. “By helping all businesses grow and expand, we can further develop our economic landscape and at the same time make it a place where all people can succeed. We look forward to welcoming this new cohort as we work to assist them in living the American Dream.”

By taking this course, attendees will become more efficient, effective and successful by learning and doing the following:

• Design and niche their business to be more competitive and outline a roadmap with milestones toward their business strategy.
• Construct and utilize a brand style guide for consistency in brand and effective marketing.
• Clarify their revenue streams and COGS/Fixed expenses and identify their break-even point and then confidently adjust pricing and sales goals.
• Systematize and automate processes and create a list of outsourcing options.
• Establish a 90-Day action plan to make progress toward your business strategy.

“We are thrilled to launch this new program and further expand our services to help historically underserved individuals excel in business,” said Ann Marie Wallace, State Director of the Women’s Business Center of Utah. “WBCUtah has already demonstrated success with our other cohort programs, trainings and mentorship opportunities. We look forward to working with this new group of entrepreneurs to help them operate more efficient, effective and profitable businesses that can transform their lives.” 

The Diverse-Owned Business Accelerator will provide a peer-to-peer environment, mastermind groups for support and accountability and weekly project assignments which are immediately implementable into their businesses. 

“At Bank of America we are focused on finding, creating and implementing sustainable solutions in the areas of jobs, affordable housing, access to healthcare and business ownership,” says Kate Moss, Market Executive for Bank of America Utah. “Supporting the Diverse-Owned Business Accelerator with the Women’s Business Center of Utah is just one of the ways we fulfill this commitment.”

Application Deadline: February 3, 2023, by 5:00 p.m. MST

Selection Process: Applications will be reviewed and applicants notified whether they were accepted or not by February 10, 2023.

For more information click here.