Sam’s invests in future customers

Small business customers are the lifeblood of Sam’s Club and to ensure the continued vitality of the crucial shopper segment the retailer is supporting an entrepreneurial youth organization.

Sam’s donated $250,000 to the U.S. Chamber of Commerce Foundation (USCCF) and the Young Entrepreneurs Academy (YEA!) to grow and support YEA!’s national educational program that works to transform middle and high school students into confident entrepreneurs.

The year-long collaboration will enable more than 8,000 students grades 6 -12 across 38 states to participate in YEA!, a 30-week entrepreneurship class to generate business ideas, conduct market research, write business plans, pitch to a panel of investors, and launch their own, legally-registered companies.

As part of the sponsorship, Sam’s Club awarded $75,000 in “Success Made Simple” startup funds to expand the YEA! program to 30 new communities beginning in fall 2015. The U.S. Chamber of Commerce Foundation is now accepting applications from local chambers of commerce that want to start a YEA! program and this summer will select 30 chambers to receive up to $2,500 in Sam’s Club “Success Made Simple” startup funds.

“Sam’s Club has helped small businesses start up and succeed since we opened 32 years ago. We are thrilled to build a relationship with the Young Entrepreneurs Academy and U.S. Chamber Foundation to help them deliver entrepreneurial education to thousands of young people in the communities we serve,” said Seong Ohm, senior vice president of membership services at Sam’s Club. “Eight out of 10 new entrepreneurs who start businesses fail within the first 18 months, so we’re on a mission at Sam’s Club to save our members time and money on merchandise and critical business services. Learning about savings with Sam’s Club will allow YEA! students to thrive and succeed in the long term. We look forward to growing with these amazing students and the chambers and universities that support them.”

In addition to the startup funds, the collaboration includes YEA! curriculum enhancements, such as behind-the-scenes student field trips to Sam’s Club and a classroom case study highlighting the perseverance and success of entrepreneur and Sam’s Club founder Sam Walton.