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Goldman Sachs Convenes Small Business Owners to Discuss Opportunities to Power Economic Growth

10,000 Small Businesses Alumni Head to Washington, D.C. to Showcase the Big Power of Small Business

New York, November 30, 2017 – Goldman Sachs Chairman and CEO Lloyd C. Blankfein today announced with founder of Bloomberg LP and Bloomberg Philanthropies and three-term Mayor of New York City Michael R. Bloomberg that Goldman Sachs will host the first-ever 10,000 Small Businesses Summit: The Big Power of Small Business, one of the largest ever gatherings of small business owners focused on charting a path to help small businesses grow and compete successfully. Thousands of small business owners from across the US who are alumni of the 10,000 Small Businesses program will participate in the event, which will take place February 13 and 14 in Washington, D.C.

“This gathering is not only a celebration of the accomplishments of our program’s alumni but it is also one of the largest gatherings ever of small business owners to seriously discuss opportunities for growth,” said Lloyd Blankfein. “We believe it is important for small businesses to have a seat at the table to define America’s small business agenda to help grow our economy.”

“Small businesses account for the majority of American jobs and they are engines of innovation and new ideas,” said Michael Bloomberg. “The 10,000 Small Businesses program has been effective at helping businesses grow, and this Summit will be a great chance for entrepreneurs to share their experiences and insights with elected leaders. The more the two groups work together, the stronger America’s future will be, and I want to thank the team at Goldman Sachs for encouraging collaboration.”

On day one, February 13, the 10,000 Small Businesses Summit: The Big Power of Small Business will consist of interactive programming where participants will hear from industry leaders and experts, as well as attend breakout sessions that focus on optimizing business growth from best practices for effective hiring, to accessing capital, leadership, leveling the playing field and more. On day two, February 14, business owners can participate in meetings on Capitol Hill with key policy makers to share the perspectives of small businesses in their state and elevate their voices to political leaders and decision makers.

The Summit will also give participants the opportunity to network, learn and meet thousands of fellow 10,000 Small Businesses alumni from across the country.

The Goldman Sachs 10,000 Small Businesses initiative offers:

  • Business and Management Education: Small business owners have access to a free practical business education through which they will develop a business growth plan to help them increase revenues and hire new employees.
  • Access to Capital: The program is working to build the capacity of local mission-driven lenders to increase opportunities for business owners to access capital.
  • Business Support Services: Business advising and networking is offered to participating small business owners through partnerships with community-based and national business organizations, as well as the people of Goldman Sachs.

To date nationally, Goldman Sachs 10,000 Small Businesses has reached more than 6,700 small business owners across 14 US education sites. Approximately 70% of participants report increasing their revenues just six months after graduating and approximately 50% of participants report creating net new jobs in this same time period. Eighty-five percent of program alumni do business with each other, demonstrating the power of the peer-to-peer network created in the 10,000 Small Businesses classroom.