Entrepreneurs who want to take their small business to the next level can apply for Goldman Sachs 10,000 Small Businesses program.
Free to participants, a 12-week program, facilitated in North Texas by Dallas College, focuses on business growth and provides education, a network of small business leaders and advisors, and access to capital. The deadline for the Spring 2024 cohort is September 27.
“The best thing about the program will be the people that you know and all the information they share with you,” said Edinson Arenas of Dallas-based Azteca Mexican Candy in a video.
The national 10,000 Small Businesses program has reached more than 12,800 business owners. Six months after graduating, 66% of participants reported increasing revenue and 44% reported creating new jobs, Goldman Sachs said.
Some 85% of 10,000 Small Businesses grads are doing business with each other, including Arenas who is working with program alum Nicole Smith, owner of McKinney-based Foodbellies, to take Azteca Mexican Candy international, first to Colombia, according to a Dallas College report.
The Goldman Sachs 10,000 Small Businesses program, available to owners in all 50 states and U.S. territories, seeks participants who are small business owners or co-owners, have been in operation for at least two years, have revenues of at least $75,000 for the most recent fiscal year, and have two or more employees (including the owner).
Business owners are asked to invest their time in attending a program orientation, completing 11 learning sessions, and participating in out-of-class activities, including working on assignments, attending networking events and business support clinics, and creating a business growth plan.
Goldman Sachs 10,000 Small Businesses partners with Community Development Financial Institutions (CDFIs) and other lenders to expand access to capital for small businesses. Partners offer loans to qualifying small businesses that lack access to affordable capital or may not qualify for traditional loans. Loan applications are accepted on an ongoing basis and are independent of acceptance into the small business education and training program.
The program also offers opportunities to learn from other small business owners, receive expert advice from professionals, get personalized business advising, and join a national network of entrepreneurs after graduation.
Dallas College said that owners will learn how to create and execute a growth plan, identify and evaluate opportunities, understand financial statements, hire and retain great employees, and successfully negotiate.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.