- Magnolia’s state plays an important role in the 10,000 small businesses program.
Friday 23, the Mississippi entrepreneurs represented the inaugural class to obtain their diploma from the Goldman Sachs Signature Business-Education Program, 10,000 small businesses (10KSB).
Fifteen years ago, Goldman Sachs launched 10KSB with an initiative investment of $ 500 million to help develop 10,000 small businesses across the country and create jobs by providing them with better access to commercial services, education, support services and capital routes for growth -oriented entrepreneurs.
“We do not intend to slow down because we know that small businesses are indeed growth engines,” said Azahi Pompey, a world leader in business engagement and president of the urban investment group at Goldman Sachs.
To ensure that rural areas were well represented, in 2023, Goldman Sachs launched a $ 100 million commitment to invest in small rural companies. The ambitious objective is to reach 20 states in five years; Mississippi represents the 10thth State. The team is ahead of the calendar.
“Why the Mississippi? Reasons,” said pump. “We know that entrepreneurs of rural communities are faced with significant obstacles to growth, networking and access to capital and resources. This initiative has been designed to help decompose these obstacles and create more economic opportunities in places that can sometimes be overlooked.
“We have seen and understood the rich history of the state of Mississippi and noticed that 99% of Mississippi companies are small businesses. It is therefore Goldman Sachs who answers the call. ”
Among the qualified cohorts, three come to mind for Pompey.
“Jeff Smith (from Brandon) has Home Tours Pro,” she said. “When you go online to consult a real estate website, you see these superb photos and videos. This is what his business does, provides real estate media services to real estate companies and owners. Jeff applied to our program because he wanted to know more about access to capital and how to manage a business. ”
Christina Berry, owner of SIPPSI Good Tea in Brandon, made a request to the program to access capital, critical resources and network to develop her business.
“In fact, she started from a pop-up boutique, and in the next week, she will open her first brick and mortar,” she said.
Heather Boyd de Poplarville launched Delta Dawn gifts to sell specialized items, clothing and a house setting.
“This is one of these types of stores in which I would like to go shopping,” said Pompey. “Heather realized that being the owner of a small business can sometimes be a very lonely company. She wanted to be part of a community of business owners, and she wanted to become clearer.
To meet the requirements for graduation of the Goldman Sachs 10KSB program, or an MBA, as Pump pointed out, the participants follow 12 weeks of intense instructions with a program of studies of 10 modules which focus on various subjects – money and metrics, leadership and results, management and hiring, marketing and sales, operations and technology, planning and planning Forecasts, legal considerations, negotiations, negotiations, and Cétéra. It’s free for the owner of the company.
“The graduation is a really important day, but we also focus on what is happening later,” said Pompey. “Have you created jobs?” Have you increased your income? Have you put this growth plan in place to offer a new product or service? ”
To this end, Goldman Sachs investigates business owners six months later, and a year later, ending the study program.
“Our data shows that 60% of our rural owners of small businesses who ended the 10KSB program create jobs in their communities within six months of obtaining the course diploma,” said Pompey. “Seventy percent increased their income within six months of graduation. And almost 90% say they feel ready to execute their growth plan and their business vision. These are figures that you generally do not see within six months. ”
The program graduates also have access to the National Cohort of Goldman Sach of 10,000 small businesses.
“We have put aside $ 20 million to support and empower small businesses in partnership with The Hope Enterprise Corporation,” said Pompey. “Our business owners would be able to apply for hope that a capital installation increases their businesses.”
Hope Enterprise Corporation is a Mississippi (CDFI) financial development financial institution.
Pump stressed that Goldman Sachs receives no advantage from the program “except helping small businesses, which we know how to fuel the economy. When small businesses increase, America increases, “she said.
How can entrepreneurs apply to the Goldman Sachs 10KSB program?
“We have several channels to make sure that we reach business owners, and one of them is Hinds Community College,” said Pompey. “We also advertise the Goldman Sachs website and work with Chambers of Commerce to get the message across.”
The festivities for the graduation for the inaugural cohort course of Goldman Sach of Goldman Sach took place on Friday at Old Capitol Museum.
John FW Rogers, Executive Vice-President of Goldman Sachs, Bill bynum, CEO of The Hope Enterprise Corporation, of the State Treasurer David McRae (R-MS) and Pompey were the participants in featured.
Graduates of the first 10ksb cohort program by Goldman Sach
Alicen Blanchard
Blanchard Group LLC
Heather Boyd
Delta Dawn gifts
Polly Briggs
Waxclubstk
Dr Wendy Ballenger
Charmed direct primary care
Matty Bengoff
Delta Dairy
Christina Berry
SIPPSI good tea
Stephen Brown
Briawood Arts Center
Kevin Cox
Delta RCI
Angela Criddle
Angela Criddle Agency LLC
Stéphanie Garneau
Inherited photography
Anthony Griffin
Griffin Construction and Roof
LIZ hoop
Hoop Cares LLC
O’Neal McAfee
McAfee Safety Analysis Inc
Debbie McClennon
Please Kids please TV Network, INC
Kiana Pauline Moore
Total Body Submersion LLC
Chad Murchison
Oxford Printing Company
Anna Powers
Congruey life, LLC
Susan Santos
Quality Marine Staffing, LLC
Jeff Smith
Home Tours Pro
Elizabeth Upchurch
Fresh ink
Vic Valera
VPM construction
Rashida Walker
W Real Estate, LLC
Makeba White Chanay
B1 nursing