10,000 Small Businesses

GS-10000_Small-Biz

ICIC is a proud partner of Goldman Sachs on their innovative and influential 10,000 Small Businesses initiative.

Goldman Sachs 10,000 Small Businesses is a $500 million investment to help small businesses create jobs and economic opportunity by providing them with greater access to business education, financial capital, and business support services.

The program is based on the broadly held view of leading experts that greater access to this combination of education, capital and support services best addresses barriers to growth. 10,000 Small Businesses is funded by Goldman Sachs and The Goldman Sachs Foundation.

The program is currently operating in Cleveland, Chicago, Dallas, Detroit, Houston, Long Beach, Los Angeles, Miami, New Orleans, New York, Philadelphia, Rhode Island, Salt Lake City and nationally through Babson College.

With the launch of 10,000 Small Businesses at Babson College, the National Cohort, business owners from all 50 states now have the opportunity to participate in the 10,000 Small Businesses program. This unique model of the program is delivered through a blend of online and in-person sessions and is intended for business owners located beyond reasonable driving distance of a locally delivered program.

View the National Cohort curriculum and key dates for Spring 2017.
View our schedule of National Cohort informational webinars.

The program has three main components:

  • Practical Business and Management Education.  The educational curriculum focuses on skills that can immediately be applied by business owners including accounting, negotiating, marketing, human resources management and much more. The education program culminates in the development of a detailed growth plan required of each participant in order to graduate. It features a high degree of interaction and peer learning, taught in a collaborative setting. The program is delivered at no cost to participants.
  • A Supportive Network of Advisors and Peers. Small business owners often face challenges finding networking opportunities and expert advice. The initiative provides valuable opportunities for peer networking and professional support through partnerships with national and local business organizations, professional services firms and the people of Goldman Sachs. 80% of alumni collaborate with one another after graduating.
  • Access to Capital. Goldman Sachs 10,000 Small Businesses has committed $300 million through a combination of lending and philanthropic support to Community Development Financial Institutions (CDFIs). The investment will increase the amount of growth capital available to small businesses in underserved communities and expand the capacity of CDFIs to deliver financing and technical assistance to small businesses.

Selection Criteria

Goldman Sachs 10,000 Small Businesses is designed for business owners with limited resources who have a business poised for growth. Applicants must demonstrate a commitment to growing their business and creating jobs within their community.

Applicants should meet the following criteria:

  • Applicant must be an owner or co-owner of a business
  • Business in operation for at least two years
  • Business has revenues of at least $150,000 in the most recent fiscal year
  • At least 4 employees (including the owner)

Applications are accepted nationally on a rolling basis.

To apply, visit http://10ksbapply.com.

10,000 Small Businesses reached over 6,100 small business owners. 68.7% of those businesses grew revenue within 6 months, 73.9% at 18 months, and 81.9% at 30 months. Download the 2016 progress report: Stimulating Small Business Growth.

To learn more about Goldman Sachs 10,000 Small Businesses, email Sonia Moin, Manager, Urban Business Initiatives.


© 2016 ICIC. All rights reserved.