GOLDMAN SACHS
10,000 SMALL BUSINESSES
A program to help entrepreneurs create jobs and economic opportunity
Goldman Sachs’ 10,000 Small Businesses program is an investment to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital and business support services. To date, more than 7,300 business owners have graduated from the program across all 50 states in the US, Puerto Rico and Washington, D.C.
Data demonstrates the program’s lasting impact on small business growth, and provides insights into how America’s small businesses can create jobs and drive opportunity. Goldman Sachs’ 10,000 Small Businesses fosters economic development by providing growth-oriented entrepreneurs with the tools needed to take their businesses to the next level. Program results consistently show that they are applying those tools to create jobs and meaningfully impact communities across the country.
Most 10,000 Small Businesses participants significantly increase their business revenues soon after completing the program. According to recent report on the program’s progress, within six months, over two-thirds (67.2%) of program alumni reported revenue growth. Longer term results reinforce widespread revenue growth, by 30 months almost four out of five (77.8%) alumni increased revenues. To place this into the context of the broader economy, slightly less than half of U.S. small businesses surveyed by the National Small Business Association (NSBA) for its 2016 Year-End Economic Report reported increasing their revenues. Job creation by 10,000 Small Businesses alumni is consistently strong, with 47.1% of business owners reporting job growth within six months. At 30 months after program completion, 56.5% of program alumni reported adding new jobs.
Goldman Sachs’ 10,000 Small Businesses emphasizes the importance of capital as the fuel for business growth. Participants develop a growth plan, which identifies both the funding needed and the most likely sources of capital. Participants are also exposed to a variety of lenders and provided with the opportunity to fine-tune their “pitch” for capital. Program data consistently shows that over time, 10,000 Small Businesses alumni both apply for and receive external funding more frequently after completing the program. Alumni seeking funding from banks or other financial institutions were approved 69.2% of the time within six months.
Learn more at goldmansachs.com/citizenship/10000-small-businesses/US/#
