LITTLE ROCK (KATV) — Friday, October 4, Goldman Sachs welcomed a new class of entrepreneurs from Arkansas into the Goldman Sachs Small Businesses distinguished educational program.
Announced as the second cohort, this class is part of Goldman Sachs 10,000 Small Businesses’ ongoing support to strengthen entrepreneurs in underserved communities through its $100 million Investment in Rural Communities.
The event was held at the Robinson Center in Little Rock.
Various Small Businesses participants, executives of Goldman Sachs, U.S. Representative French Hill, and community stakeholders were in attendance for the celebratory affair.
With a $100 million investment directed to rural areas in 20 states over the course of 5 years, Goldman Sachs intends to ensure business owners are equipped with a thorough business education program and access to capital.
“The Goldman Sachs 10,000 Small Businesses program provided us with a practical toolkit, from financial forecasting to negotiation strategies, that has been invaluable to Just Peachy’s growth,” said Ryan Byrd, owner of Just Peachy in Little Rock, Arkansas and graduate of 10,000 Small Businesses.
“Beyond the curriculum, the relationships and network built through 10KSB are truly some of the most impactful takeaways, and I look forward to continuing to build that community with the second Arkansas cohort.”
According to a release, Goldman Sach’s 10,000 Small Businesses program was first launched in Arkansas in 2023.
As of now, 12 states have been on the receiving end of the hefty investment.
“Having been an entrepreneur and community banker in Arkansas myself, I know the dedication it takes to build a business from the ground up and understand the challenges our small business owners face, particularly in accessing capital and education,” said U.S. Representative French Hill.
“Small businesses are the engines of our state’s economy, fostering innovation, creating jobs, and increasing opportunities across our communities. Programs like the Goldman Sachs 10,000 Small Businesses program are vital for providing the practical training and resources that help empower these businesses to grow, succeed, and ultimately drive our economy forward.”
During the 10,000 Small Businesses program, participants are guided through a 12-week curriculum, engaging in lessons focused on financial management, leadership, and negotiation.
Essential skills that could be acquired or possibly refined through the program can be applied to day-to-day business operations.
The training also helps the incoming class with building a network with other entrepreneurs, including the class of 22 entrepreneurs who were in the program’s first cohort in the state.
According to a release, small businesses have a strong impact on the state, making up 99.3% of Arkansas businesses and employing almost half of the workforce in the state.
“From the agricultural powerhouse of the Arkansas Delta to the commercial horsepower of Little Rock, small businesses are the engine that keep Arkansas moving,” said Asahi Pompey, global head of Corporate Engagement and chair of the Urban Investment Group at Goldman Sachs.
“As this new cohort of small business owners rises to join the ranks of more than 17,000 of our alumni, we are rolling up our sleeves alongside them – helping unleash economic growth across America’s heartland.”
This year marks the 15th anniversary of the program.
Source: katv.com
