SMALL BUSINESS IN UTAH

Utah Business Persons of the Year Jen and Joseph Watson, owners of K-9 Sport Sack.

WRITTEN BY: U.S. SMALL BUSINESS ADMINISTRATION, UTAH DISTRICT OFFICE

TThe U.S. Small Business Administration (SBA), through its Utah District Office, remains committed to providing its full range of programs and services, including new COVID-related loans, to small businesses throughout the state. The business landscape has changed dramatically over the last year, but SBA’s mission to provide financial, technical and management assistance to small businesses has not.

“In response to the coronavirus pandemic, Congress enacted legislation that has enabled SBA to support and sustain small businesses through the crises with critical new lending programs” observed Marla Trollan, District Director of SBA’s Utah District Office. “These specialized lending programs have allowed Utah small businesses to keep and pay employees during the economic downturn. These programs, combined with the inherent resiliency of Utah’s economy and small business owners, have allowed for a swifter recovery in Utah’s economy and job market.” The Utah District Office continues to host successful events such as National Small Business Week, various webinars, and rural roundtables and roadshows. “The current pandemic presents logistical challenges, but we continue to focus and execute on our major outreach and rural initiatives to provide support and resources to communities across the state,” Trollan continued. Trollan also noted the significant local impact of SBA’s Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program during the pandemic and recent natural disasters. “Since March, these two loan programs have provided more than $6.5 billion of capital to Utah small businesses. The most current figures we have available through the end of September 2020 show that SBA, through its lenders, has provided Utah small businesses with more than 52,000 PPP loans totaling over $5.2 billion. Additionally, SBA directly funded almost 22,000 EIDL loans totaling over $1.3 billion. SBA EIDL loans have also been made available in many rural communities due to drought conditions.” Aside from its emergency loan programs, in its 2020 fiscal year, SBA also approved 1,065 traditional 7(a) and 504 loans amounting to almost $626 million in funding to small businesses across the state. Due to the significant efforts of its two certified development companies, the Utah District Office ranked fifth nationally in the number of approved 504 loans and seventh nationally in the dollar amount of approved 504 loans according to the latest SBA data. To further support Utah’s business owners in accelerating the growth of international sales, SBA has awarded World Trade Center Utah with a State Trade Expansion Program (STEP) Grant of $641,000, a record amount for the program here in the state. SBA has increased Utah’s STEP Grant from $300,000 to $641,000 over the past two years, the largest increase among any state in the country in this

highly competitive process. WTC Utah will administer the grant by providing financial support and business services to Utah small businesses to help them compete and win in global markets. STEP is funded in part through a Cooperative Agreement with the SBA.

Utah’s export growth rate has been the highest in the nation for the past two years. Eightyfive percent of Utah’s exporters are small businesses, and international sales add $5 billion in additional revenue for these small business exporters. STEP Grant funding ensures that these small businesses have the tools necessary to expand and market their products and services around the world. Additionally, the Utah District Office will continue to work closely with its resource partners — the Small Business Development Center Network of Utah, the Women's Business Center of Utah and SCORE, all of which receive funding from SBA. These partners provide free counseling and low-cost training for new and existing businesses. The Utah District Office also collaborates with other stakeholders and service providers such as the World Trade Center Utah, the Governor’s Office of Economic Development, several chambers of commerce and non-profit business support organizations, USDA Rural Development, U.S. Commercial Service, SLCC Global Business Center and many others.

Small businesses lead innovation and job growth in our communities. They employ more than half our workforce and create two out of every three new jobs in the private sector. They give character to their neighborhoods and sponsor charitable and scholastic endeavors in their communities. In difficult times, it is often small businesses that step up to support those in need. This has been no more apparent than during the difficulties of this past year. K-9 SPORT SACK — UTAH SMALL BUSINESS PERSONS OF THE YEAR

Joseph and Jen Watson of K-9 Sport Sack, located in Orem, were selected as the 2020 SBA Utah Small Business Persons of the Year during National Small Business Week. They represented Utah during National Small Business Week and participated in the national ceremony. Since launching their business in 2015 the Watsons have made a global impact on the pet industry, shifting the way people incorporate pets into their modern lives. They originally designed a front-facing dog back-pack for their then-puppy Daisy, whom they rescued from a dumpster. The resulting design morphed into a light-weight carrier that has grown in popularity internationally. The carrier allows people to carry their pets on public transportation and enjoy every-day activities regardless of the pets age or ability. K-9 Sport Sack has grown exponentially each year since its inception and throughout the Watsons have stayed true to their No Dog Left Behind mission. The company has supported numerous animal rescue organizations as well as homeless and disabled pets, while using social media and their considerable online following to support those efforts. Most recently the Watsons have worked with the SBA to secure funding through the Paycheck Protection Program to help keep their employees paid and working through the coronavirus pandemic. They also applied for SBA loans through the 7 (a) Loan Program. STARTING YOUR OWN BUSINESS? REACH OUT TO SBA RESOURCE PARTNERS

For assistance in building your business plan, presentation or pitch, connect with your local business experts at the Women’s Business Center of Utah, the Utah Small Business Development Center Network and also with SCORE where information, counseling and workshops are available to you for little or no cost.

Although not lenders, these experts become your guides as you work through the process of finding and applying for funding. The Women's Business Center of Utah (WBCUtah) located in Salt Lake City and in Cedar City, provides tools and support to help women (men too) establish, grow and sustain businesses throughout the state of Utah. WBCUtah is focused on providing confidential business counseling and training services to entrepreneurs and is a critical resource to those who are economically or socially disadvantaged. To learn more visit wbcutah.com or call (801) 328-5066. The Small Business Development Center Network of Utah supports 15 centers around the state, focusing on counseling in areas such as financial analysis, business planning, training and workshops and loan packaging assistance to help small businesses achieve their goals of growth, expansion, innovation and success. Check out their website at utahsbdc.org for more information. Each local SBDC offers the following services areas for start-ups, existing and expanding businesses:

• Financial Analysis • Business Planning • Operations Assistance • Marketing & Social Media Assistance • Training & Workshops • Entrepreneurial Development • Loan Packaging Assistance SCORE is a non-profit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship. Because SCORE is supported by the SBA, and by a network of 10,000 volunteers, SCORE can provide services at no charge or at very low cost. • Volunteer mentors share their expertise across 62 industries • Free, confidential business mentoring in person, via email or by video • Free business tools templates and tips here online • Inexpensive or free business workshops (locally) and webinars (online 24/7) For more information call (801) 957-5453 or visit their website at: saltlake.score.org. Email: scoresaltlake@gmail.com.

Stephanie Loud, Owner of Mountain West Precast

Declaration of five principles and actions invite individuals, businesses and organizations to commit to be anti-racist and advance equal opportunity for all

On December 15, 2020, Governor Gary R. Herbert joined community leaders on the steps of the Utah Capitol to launch a new compact committing to anti-racist principles and actions. “All men and women are created equal. The rights to education, housing, employment, healthcare, life, liberty and the pursuit of happiness must belong to all of us — to people of all races,” Gov. Herbert said. “I believe, and hope, that most Utahns want to make that happen. In signing this compact, Utahns can commit to the important work of loving their neighbor, and ensuring equity and equality in our state.” The compact is founded on the principles that all people are created equal and that all Utahns must have a truly equal opportunity to prosper. It explicitly acknowledges racism as a system of ideas, beliefs, practices, structures and policies that give some people greater opportunity than others. Signatories of the compact pledge to work toward priorities and laws that create equal opportunity and access, and to foster communities of respect. All signatories also commit themselves to acknowledge and fight racism, invest time and resources in creating greater opportunity or people of color, and to advance solutions to racial ills by listening and creating policies that provide equal opportunity and access to employment, housing and health care. They also promise to engage communities of color by upholding the principle “nothing about us, without us.” Finally, all signatories commit to join a movement for social, racial and economic justice. Gov.-elect Spencer J. Cox said racial equity will be an important part of his administration. “History teaches us that progress doesn’t just happen. It requires forethought, commitment and deliberate action. These principles reflect a firm resolve toward racial justice, a direction toward equity and inclusion that will continue during my administration,” Cox said. “This isn’t about political correctness, it’s about human correctness. It’s about kindness, decency and love for our fellow travelers. Indeed, it is about striving to deliver on the self-evident truths recognized from our founding: ‘That all men are created equal and endowed by their Creator with certain unalienable Rights’.” “Today, during the most unbelievable and trying times in our state, country and world, and alongside the most political partisan extremism and government rage many of us have ever experienced in our lifetime, this is a moment — another positive and compassionate Utah moment — where we

stand as a state, alongside our partners and say “no” to racial inequities, disparities and unequal opportunities, and “yes” to a movement, collective and consciously toward racial justice,” said Sen. Jani Iwamoto. “I am excited for this development and hopeful for the work that different leaders across the state will forward through the Utah Compact on Racial Equity, Diversity, and Inclusion,” said Sen. Luz Escamilla. “Recognizing the history of inequities, disparities, and gaps that our communities have faced and continue to face is instrumental to implementing solutions that create equal opportunities and access for all. This is a great first step, and I’m looking forward to seeing the measures that help bring prosperity to ALL Utahns.” The compact is the most public of several steps Governor Herbert took during 2020 to introduce anti-racist policies following meetings he held with the Martin Luther King and Multicultural Commissions in June. Members of the governor’s senior staff and cabinet have recently completed a monthslong implicit bias training program, which included a rigorous schedule of educational materials and virtual training meetings with experts in implicit bias and race relations. To view and sign The Utah Compact, visit slchamber.com/utahcompact. “Today’s event rang with a spirit of hope. For the first time in a long time, I felt that we had leaders who have made a head and heart shift. Listening to the speakers’ personal stories and revelations lead me to believe that our Black community was not in this struggle alone! Not a moment but a movement.”

— Betty Sawyer, Executive Director of Project Success Coalition and President of the NAACP Ogden Chapter

“This compact represents the framework for Utah to move forward making sure no community is left behind. The courage shown by the Governor and various allies today is the beginning of a journey together; to shape our state and communities, ensuring that we are inclusive and united in every aspect. It’s exciting to see Utah lead on this incredibly important issue.”

— Simba Maponga, Vice-Chair for the Commission

“Today is an example of what can happen when our multicultural communities are invited to help design, construct and advance good policy for legacy. It is important to note, however, that we stand on these steps of Utah’s State Capitol today thanks to the tireless efforts of great leaders including the late Archie Archuletta and Frank Cordova, Pastor France Davis, Miss Jeannetta Williams and Miss Betty Sawyer, to name just a very few.”

— Byron Russell, Co-Chair for the Utah Multicultural Commission and Co-Chair of the Multicultural Advisory Committee of Utah’s COVID-19 Response

“This compact is a statement and promise of leadership, unity and commitment to end systemic racism and provide equal opportunity to all who live in and visit our great state... We need to do better at listening, learning, understanding, acting and advocating. I am grateful to all who are signing the compact. We are all in this together.”

— Gail Miller, Owner and Chair of Larry H. Miller Group of Companies