NAACP and Goldman Sachs 10,000 Small Businesses Announce New Partnership to Help Small Businesses Grow, Create Jobs
BALTIMORE – NAACP National President and CEO Cornell William Brooks today announced a new partnership with Goldman Sachs 10,000 Small Businesses to help more entrepreneurs across the country attain the resources and tools to grow and create jobs in their communities.
The organization is joining with Goldman Sachs’ 10,000 Small Businesses initiative, a $500 million program with the goal of helping unlock the growth and job-creation potential of small businesses across the United States through greater access to business education, financial capital and business support services.
The NAACP will work with its network of 2,200 local chapters and state conferences to help inform and recruit small business owners to join the program, which provides intensive specialized business management courses for applicants and opportunities to access capital.
“Small businesses are the lifeblood of every neighborhood and community,” said NAACP President and CEO Cornell William Brooks. “Supporting their growth and ability to thrive will only strengthen the communities in which those businesses call home and provide much-needed economic opportunity to the existing and future employees of those businesses. We are pleased to partner with Goldman Sachs as they lend their financial expertise to help guide small businesses down the path to financial success.”
“Giving small business owners access to the tools they need to grow is vital to creating a vibrant economy, both locally and nationally,” said John F.W. Rogers, Executive Vice President of Goldman Sachs. “We are proud to partner with the NAACP to deepen our reach into communities and give even more small businesses the resources they need to succeed.”
Ideal candidates are small business owners with more than $150,000 in revenue and have been in operation for at least two years. Qualifying businesses also must demonstrate that they employ four or more workers and have a scalable business model and a commitment to grow and hire locally.
More than 5,600 small business owners have joined the program since it began in 2011, attending 165 education cohorts at 27 sites across the country. More than 99 percent of participants graduate and more than half of the businesses reported increased revenues and expanded work forces within 18 months of graduation.
Qualified applicants are encouraged to apply at www.10ksbapply.com for one of the more than 40 classes available across the country each year. Additional information and application material can be found at www.10ksbapply.com.