We are celebrating this week as
Goldman Sachs 10,000 Small Businesses has reached an exciting milestone- 5,000 small business owners. When we began the design of the program, we started by defining exactly what entrepreneurs needed to be able to do to grow their business. That emphasis on growth was an intentional differentiator from start-up focused programs. While we were reasonably confident that from our shared practical and academic experiences we knew what needed to be on the list, we also tapped a group of thinkers and leaders in this space to help us nail it. And after five years, that list and the resulting curriculum is working. This month we released our second progress report,
Stimulating Small Business Growth, which shows that the small business community continues to be an engine for growth across the country and are outperforming U.S. small businesses overall in revenue growth and job creation.
As the report shares, most participants who go through the program grow their business revenues, 67% of them at six months and 76% by 18 months. The results for job growth are equally impressive, with 46% reporting new jobs at six months, rising to 57% by 18 months. While exact national comparisons are difficult, the
National Small Business Association 2014 Year-End Economic Report shares that 45% of U.S. businesses reported increased revenues and 22% reported creating new jobs.
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