The partnership is designed to provide the necessary skills and knowledge for small business owners to be successful, and will include a series of financial advisory mentorship programs given by the foundation’s Clinton Economic Opportunity Initiative along with UBS WMA.

The CEO-UBS Small Business Advisory Program will launch this summer with a six-month pilot in the New York City metropolitan area, focusing on businesses with the potential for significant growth and job creation. Each business owner will receive personalized advice from a UBS financial advisor and client business leaders. There will also be group workshops featuring guest speakers.

"Small businesses are our nation's most vital source of job creation. They have driven success and innovation since our country's inception and are at the core of our economy," said President Clinton. "Our partnership with UBS Wealth Management Americas will give these businesses essential new opportunities to expand and to make a positive difference in underserved communities."

The philanthropic initiative ties in with UBS’ “Revitalizing America” scheme. As part of the program the wealth management firm launched a report in May on the challenges to the US economy, encouraging a fundamental re-examination of the role the government assumed after the 2008 crisis. 

The report, Revitalizing America: Forging a New Path toward Economic Prosperity, proposed the following nine broad solutions to the US’ current problems: entitlement reform; revamping of the tax code; easing of regulatory burdens; educational reform; apprenticeship training programs; liberalization of immigration policies; technology transfers; public-private partnerships and increased investment in infrastructure.

"When we launched our Revitalizing America initiative earlier this year, I said that a spirit of partnership is essential as we work to rebuild our economy. With that in mind, I am pleased that the Clinton Foundation has partnered with UBS, our advisors and our clients, so that together we can support small businesses as they pursue their growth goals," said Robert McCann, chief executive of UBS Wealth Management Americas.