10,000 Small Businesses

Philanthropic initiative 300px|thumb|right August 2024 10,000 Small Businesses is a philanthropic initiative launched by Goldman Sachs and the Goldman Sachs Foundation in November 2009 that pledged $500 million in various aid to small businesses in the United States, United Kingdom, and France. The initiative aims to provide 10,000 small businesses with assistance – ranging from business and management education and mentoring to access to capital and business support services. Goldman Sachs' CEO Lloyd Blankfein, Berkshire Hathaway's Warren Buffett and Harvard Business School professor Michael Porter are the chairs of the program's advisory council.https://www.bloomberg.com/apps/news?pid=20601087&sid=aQWV0pN.Y1LQ&pos=1 Goldman, Buffett Establish $500 Million Small-Business Program Schmidt Robert Christine Harper 11 July 2009 Bloomberg.com 18 November 2009 The program was launched in the face of mounting criticism over Goldman Sachs' large bonus payouts after repaying (with interest) $10 billion in TARP funds it received from the U.S. Treasury.http://www.businessweek.com/smallbiz/running_small_business/archives/2009/11/goldman_sachs_t.html https://web.archive.org/web/20091120184130/http://www.businessweek.com/smallbiz/running_small_business/archives/2009/11/goldman_sachs_t.html dead 20 November 2009 Goldman Sachs Announces $500M in Aid to Small Business Tozzi John 17 November 2009 Business Week 19 November 2009 According to the company, the small business initiative had been in development a year before the initial launch, and is modeled after its 10,000 Women Initiative, which has helped educate female entrepreneurs in 43 countries.http://philanthropy.com/news/updates/index.php?id=10199 Goldman Sachs Pledges $500-Million to Help Small-Business Owners Wilhelm Ian 17 November 2009 19 November 2009 According to a January 2013 report by Babson College, 63.7% of program participants in the United States reported an increase in revenue and 44.8% added new jobs following graduation.Greene Patti What Do Small Businesses Really Need To Grow? Forbes https://www.forbes.com/sites/babson/2014/04/03/what-do-small-businesses-really-need-to-grow/ 27 April 2014 Asahi Pompey, President of the Goldman Sachs Foundation, has led the program since 2019.College Babson Despite Resource Constraints Small Businesses Are Investing in the Workforce and Driving Growth, According to New Study https://www.prnewswire.com/news-releases/despite-resource-constraints-small-businesses-are-investing-in-the-workforce-and-driving-growth-according-to-new-study-300912860.html 2026-02-09 www.prnewswire.com enAsahi Pompey https://www.goldmansachs.com/our-firm/our-people-and-leadership/leadership/management-committee/asahi-pompey https://web.archive.org/web/20251208100730/https://www.goldmansachs.com/our-firm/our-people-and-leadership/leadership/management-committee/asahi-pompey 8 December 2025 2026-02-09 www.goldmansachs.com en-US live Asahi Pompey on Capitalizing Communities and the Value of Imperfection https://www.thewiesuite.com/post/asahi-pompey-on-capitalizing-communities-and-the-value-of-imperfection 2026-02-09 www.thewiesuite.com Program Overview Under the plan, Goldman will provide $200 million to pay for small-business owners to get business and management education at local community colleges – the first program being at LaGuardia Community College in Queens, New York. Additionally, the program allocates $300 million in loans and grants to small businesses.https://www.nytimes.com/2009/11/18/business/18goldman.html $500 Million and An Apology from Goldman Bowley Graham 17 November 2009 The New York Times 19 November 2009https://money.cnn.com/2009/11/17/smallbusiness/goldman_sachs_warren_buffet_small_business/ https://web.archive.org/web/20091122141746/http://money.cnn.com/2009/11/17/smallbusiness/goldman_sachs_warren_buffet_small_business dead 22 November 2009 Goldman, Buffett launch $500 million small biz initiative Cowley Stacy 17 November 2009 CNN Money 19 November 2009 As of September 2013, small business owners in all 50 states can apply to the program through an online curriculum or at one of 13 community college sites.Karol Gabrielle http://smallbusiness.foxbusiness.com/finance-accounting/2013/09/19/goldman-sachs-expands-10000-small-businesses-program Goldman Sachs Expands 10,000 Small Businesses Program FoxBusiness 27 April 2014 19 September 2013 Networking and mentoring will be offered through partnerships with national and local business organizations, as well as employees of Goldman Sachs.http://www2.goldmansachs.com/citizenship/10000-small-businesses/news/press-releases/launch-doc.pdf Goldman Sachs Launches 10,000 Small Businesses Initiative van Praag Lucas 17 November 2009 Goldman Sachs 18 November 2009 31 March 2010 https://web.archive.org/web/20100331215716/http://www2.goldmansachs.com/citizenship/10000-small-businesses/news/press-releases/launch-doc.pdf dead Additionally, in 2010 Goldman Sachs launched 10,000 Small Businesses UK which was originally offered in Yorkshire, the North West, the Midlands and London, with partners including Saïd Business School (University of Oxford), Leeds University Business School, Manchester Metropolitan University Business School, Aston Business School and University College London (UCL).Give Your Business the Edge http://10ksb.aston.ac.uk/ Aston Business School 27 April 2014 10 April 2014 https://web.archive.org/web/20140427141026/http://10ksb.aston.ac.uk/ 27 April 2014 dead dmy-allGoldman Sachs 10000 small businesses http://www.goldmansachs.com/citizenship/10000-small-businesses/UK/10000-small-businesses-newcontent/10ksb-uk-brochure.pdf Goldman Sachs 9 August 2015 The programme is now delivered nationally in partnership with Saïd Business School (University of Oxford) and Aston Business School. Selection criteria In the US, the plan targets companies employing at least four full-time employees and with revenue of at least $150,000 in the most recent fiscal year.https://www.wsj.com/articles/SB10001424052748704533904574544202372453482 Small Businesses Turn to Goldman Spector Mike 19 November 2009 The Wall Street Journal 19 November 2009 Eligible companies have to have been operating for at least two years and work "predominantly in under served markets". In the UK, the programme targets businesses employing at least five full-time employees with revenue of at least £250,000, and a maximum of £15 million. Eligible companies in the UK need to have been operating for at least three years and be high growth. The applicant must be the most senior decision maker and, in most cases, the majority shareholder with majority control. Partners The partner institutions and organizations include establishments in both academia and nonprofit sectors,http://www2.goldmansachs.com/citizenship/10000-small-businesses/about/partner-list.html 10,000 Small Businesses Partner Institutions and Organizations 17 November 2009 Goldman Sachs 18 November 2009 https://web.archive.org/web/20091121053735/http://www2.goldmansachs.com/citizenship/10000-small-businesses/about/partner-list.html 21 November 2009 dead dmy-all as well as mission driven capital lenders. Social media In February 2014 the Twitter handle @GS10KSmallBiz was launched by Goldman Sachs.GS10KSmallBiz In December 2015 the account had over 18,000 followers. Profiles of the 10,000 Small Businesses graduates of the programme in the US can be viewed on the Goldman Sachs YouTube playlist titled: Meet the Owners: 10,000 Small Businesses in the US. In the UK, more information about alumni of the programme and the application process can be found here: 10,000 Small Businesses website See also College partners American Association of Community Colleges Association of Community College Trustees Babson College City Colleges of Chicago Community College of Philadelphia Cuyahoga Community College Delgado Community College Oakland Community College Houston Community College Lagos Business School LaGuardia Community College Long Beach City College Los Angeles City College Miami Dade College Macomb Community College Salt Lake Community College Wayne State University Nonprofit partners Initiative for a Competitive Inner City National Federation of Independent Business National Urban League United States Hispanic Chamber of Commerce Greater Philadelphia Hispanic Chamber of Commerce Other 10,000 Women References External links 10,000 Small Businesses Website Video 10,000 Small Businesses Daily News Article Category:Goldman Sachs