Goldman Sachs 10,000 Small Businesses, Detroit, celebrates the graduation of more than 60 small-business owners who have completed a rigorous education, coaching and business-support module and are ready to grow their businesses and deepen their contributions to Southeast Michigan's economy.
WHAT:
More than 60 Detroit and Southeast Michigan small-business owners will graduate from the Goldman Sachs 10,000 Small Businesses initiative, which aims to help create jobs and economic growth by providing small business owners in the area with practical business education, business support services and access to capital. The program's classes were hosted at Wayne State University, putting participants in the center of Detroit's thriving Midtown neighborhood.
U.S. Congresswoman Debbie Dingell (MI-12) and Rodrick T. Miller, president and CEO of Detroit Economic Growth Corporation, will address the graduates.
WHEN:
Thursday, Aug. 6, 2015
11 a.m. to noon (reception following)
WHERE:
St. Andrew's Hall
Wayne State University
5105 Anthony Wayne Drive
Detroit, Michigan
MORE INFO:
Goldman Sachs launched 10,000 Small Businesses in Detroit and Southeast Michigan in November 2013 and committed $20 million for small-business loans, business education and grants for supporting community partners. The business owners who will graduate on Aug. 6 participated in more than 100 hours of curriculum delivered across eleven sessions by a consortium of higher education institutions made up of Macomb Community College, Oakland Community College and Wayne State University, studying a business and management curriculum designed by Babson College. The curriculum covered accounting, human resources, negotiation and marketing, among other topics. The program also included one-on-one business advising and accounting workshops. Capital partners are Invest Detroit and the Detroit Development Fund.
National program findings show that, within six and 18 months of completing the program, alumni of the 10,000 Small Businesses program grow their revenue and create jobs faster than U.S. small businesses generally do. According to the latest study, in Southeast Michigan, 73.5 percent of participants realized increased revenues six months after graduating from the program, and 51.9 percent of participants added net new jobs six months after graduating from the program.
10,000 Small Businesses is funded by Goldman Sachs and the Goldman Sachs Foundation. The program is guided by an Advisory Council co-chaired by Goldman Sachs CEO Lloyd C. Blankfein, Warren Buffett, and Dr. Michael Porter of Harvard Business School.
Goldman Sachs 10,000 Small Businesses, Detroit is currently accepting applications for its sixth cohort, launching in fall 2015. Visit 10ksbdetroit.com for more information.