U.S. Bank Initiative to Bolster Small Business Sector and Advance Sustainable Development Goals

A new report indicates that U.S. Bank has launched an online education platform, “Business Resources Central,” designed to support small business owners. This initiative directly contributes to several United Nations Sustainable Development Goals (SDGs) by providing critical resources to a vital segment of the economy currently facing significant challenges.

Aligning with SDG 4: Quality Education and SDG 8: Decent Work and Economic Growth

Providing Inclusive and Equitable Quality Education (SDG 4)

The “Business Resources Central” platform is a key tool for advancing SDG 4, which aims to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. The platform’s design reflects a commitment to this goal through several key features:

• Accessibility: The educational resources are offered free of charge.
• Inclusivity: Access is open to all small businesses, including U.S. Bank clients, non-clients, and suppliers to the bank.
• Relevant Curriculum: Developed in partnership with Next Street, a firm specializing in small business solutions, the platform offers courses on practical topics essential for business resilience and growth. Course subjects include “business continuity planning” and “how to prepare to seek financing.”

By removing financial barriers and providing targeted financial education, the initiative empowers entrepreneurs with the knowledge needed to sustain and grow their operations.

Promoting Sustained, Inclusive, and Sustainable Economic Growth (SDG 8)

The program is a direct response to the need to support small businesses, which are fundamental drivers of economic growth and employment. This aligns with the objectives of SDG 8. Shruti Patel, Chief Product Officer for Business Banking at U.S. Bank, stated, “Small businesses are vital to the U.S. economy. We aim to support them with access to capital and financial education.”

The initiative supports SDG 8 by:

1. Strengthening the capacity of small enterprises, which account for 25% of the nation’s wages.
2. Providing tools to help businesses navigate economic headwinds, thereby promoting decent work and economic stability.
3. Fostering an environment where small businesses can achieve higher levels of economic productivity.

Addressing Economic Disparities and Fostering Innovation in Line with SDG 9 and SDG 10

Reducing Inequalities (SDG 10)

The launch is set against a backdrop of growing economic disparity between small and large companies, a challenge directly addressed by SDG 10. A PYMNTS Intelligence report, “Main Street Businesses are Struggling,” found that smaller firms are lagging in growth compared to their larger counterparts. Key findings include:

• Main Street businesses grew at a rate of only 2.4% in the four quarters ending in Q1 2025, compared to 3.6% for the overall U.S. business index.
• This slowdown is attributed to fewer new establishments and lower wage growth relative to larger corporations.

By offering free, universal access to high-quality educational resources, the U.S. Bank platform helps to reduce inequalities, empowering smaller firms to compete more effectively and build resilience.

Fostering Industry, Innovation, and Infrastructure (SDG 9)

The digital platform itself represents an innovation in building resilient business infrastructure, a core tenet of SDG 9. It provides a scalable solution to disseminate critical knowledge. This aligns with a broader trend of small and medium-sized businesses (SMBs) adopting technology to enhance their operations. Reports indicate that SMBs are increasingly using artificial intelligence (AI) and no-code tools to automate back-office functions, from invoice generation to tax calculation, demonstrating a move towards greater technological integration and efficiency within the sector.

The Role of Collaboration in Achieving the Goals (SDG 17)

Partnerships for the Goals (SDG 17)

This initiative exemplifies SDG 17, which emphasizes the importance of partnerships to achieve sustainable development. The collaboration between U.S. Bank, a major financial institution, and Next Street, a specialized advisory firm, demonstrates a multi-stakeholder approach. By combining financial resources and subject-matter expertise, the partnership has created a valuable public good that supports the broader goals of economic stability, inclusive education, and reduced inequality.

Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 4: Quality Education – The article’s central theme is the launch of a free online education platform by U.S. Bank to provide financial education and skills training to small business owners.
• SDG 8: Decent Work and Economic Growth – The initiative aims to support small businesses, which are described as “vital to the U.S. economy,” to overcome economic headwinds, improve their growth rate, and enhance their productivity, thereby contributing to overall economic growth.
• SDG 9: Industry, Innovation, and Infrastructure – The article discusses improving small businesses’ access to financial services and capital. It also highlights the adoption of technology and innovation (like AI tools) to enhance business operations.
• SDG 17: Partnerships for the Goals – The educational hub is a result of a partnership between U.S. Bank and Next Street, demonstrating a private-private partnership to achieve development goals.

What specific targets under those SDGs can be identified based on the article’s content?

SDG 4: Quality Education

1. Target 4.4: “By 2030, substantially increase the number of youth and adults who have relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship.”
   • The article states that the “Business Resources Central” platform provides “educational courses and other tools” for small business owners. The courses on topics like “business continuity planning” and “how to prepare to seek financing” are direct examples of providing relevant vocational and entrepreneurial skills.

SDG 8: Decent Work and Economic Growth

1. Target 8.2: “Achieve higher levels of economic productivity through diversification, technological upgrading and innovation…”
   • The article mentions that SMBs are adopting “artificial intelligence-powered, no-code tools to handle their back offices,” such as for “invoice generation and bill reminders to recurring billing and AI-assisted tax calculators.” This is a clear example of technological upgrading and innovation to improve productivity.
2. Target 8.3: “Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services.”
   • The entire initiative by U.S. Bank is a private-sector policy aimed at supporting entrepreneurship and the growth of small businesses. The article explicitly states, “We aim to support them with access to capital and financial education.” This directly aligns with encouraging the growth of SMBs through access to financial services and education.

SDG 9: Industry, Innovation, and Infrastructure

1. Target 9.3: “Increase the access of small-scale industrial and other enterprises… to financial services, including affordable credit, and their integration into value chains and markets.”
   • The platform’s purpose is to help small businesses, with U.S. Bank stating its aim is to “support them with access to capital.” A specific course mentioned is “how to prepare to seek financing,” which directly addresses the goal of increasing access to financial services for small enterprises.

SDG 17: Partnerships for the Goals

1. Target 17.17: “Encourage and promote effective public, public-private and civil society partnerships…”
   • The article notes that “The hub was developed with the help of Next Street, a company that offers training and other solutions for small businesses.” This collaboration between U.S. Bank and Next Street is a private-private partnership to deliver the educational platform.

Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

For Target 4.4 (Relevant Skills for Entrepreneurship)

• Implied Indicator: The number of small business owners creating free accounts and accessing courses on the “Business Resources Central” platform. The existence of the free platform itself serves as a qualitative indicator of increased access to vocational training.

For Target 8.3 (Growth of Small Enterprises)

• Quantitative Indicator: The growth rate of Main Street businesses. The article provides specific data points: “Main Street managed only 2.4% growth” compared to the “overall business index [which] rose 3.6%.” This directly measures the economic performance of small businesses.
• Quantitative Indicator: The rate of new business establishment. The article cites “fewer new establishments” as a reason for the slowdown in the small business sector.

For Target 9.3 (Access to Financial Services)

• Implied Indicator: The proportion of small businesses that have access to financing. The article’s focus on a course titled “how to prepare to seek financing” implies that the ability of these businesses to secure capital is a key metric of success for the initiative.

SDGs, Targets, and Indicators Analysis

Source: pymnts.com