New partnership created to help grow small businesses

Posted at 10:59 PM, Jul 18, 2012
and last updated 2012-07-19 16:39:09-04

SALT LAKE CITY -- Governor Gary Herbert announced that $15 million in funding is heading to Utah and a partnership was created to help grow small businesses.

Governor Herbert announced a partnership with Goldman Sachs, Salt Lake Community College and the state.

"Because of a lot of uncertainty and reasons in the marketplace, we have a lot of capital sitting on the sidelines not engaging and it makes it difficult for the private sector to accelerate economic opportunity, even though there are demands in the market place," said the governor.

With the new partnership, investment banking giant Goldman Sachs is providing a program to educate, fund and support budding entrepreneurs in Utah.

"People will be trained on how to in fact improve their economic opportunity in their business [and][ how they can expand their business and create more profitability and therefore hire more people," said Governor Herbert.

Salt Lake Community College also is collaborating by providing education and hopes to train up to 80 small businesses per year.

The first round of business owners will start the program in January of 2013.