South Valley Chamber Unveils its 2019 KeyBank Business Accelerator Academy Impact Report Detailing Small Business Average Annual Revenue Growth at 29%
Sandy, UT – November 12, 2019 – The South Valley Chamber, the hub for business education courses and networking opportunities, today unveiled its 2019 KeyBank Business Accelerator Academy Impact Report, which details the growth of the graduate companies from the first cohort of this 13-week mini-MBA program. This hands-on program, powered by curriculum from Interise, provides the knowledge and know-how business owners & CEOs need to create and manage a customized three-year growth plan. This program has helped more than 6,000 companies across the United States increase their annual revenues and create jobs.
Key findings from the 2019 Impact Report include:
- 29% average revenue growth in the first year after graduation
- 88% of businesses that increased or maintained annual revenue
- 26 net new jobs created
- 68 total jobs retained
- 44% secured new financing
- $547,000 new financing secured
- 78% give or volunteer their time to charity
- 22% did business with other participants
“After meeting with companies from all across the valley, we decided it was time to introduce a program that could help existing business owners increase their revenues,” said Greg Summerhays, President & CEO of the South Valley Chamber. “While a small business may be great at the trade they are offering, they often struggle with the day to day of running a business. This program provides an opportunity to focus on their company for a few hours each month and every participant walks away with a strategic three-year growth plan. An average small business grows at 9% every year, so we are extremely pleased that our companies grow on average at 29%.”
The KeyBank Business Accelerator Academy is hosted by the South Valley Chamber at Salt Mine Productive Workspace. Participants dive into their financials, marketing, sales, and management over a period of 26 weeks for 13 total sessions. Additionally, they are required to gather outside of class as CEOs and to discuss problems, solutions and ideas. The academy is taught by Ralph Little – a Harvard grad and serial entrepreneur – including one company in the Inc. Top 500.