Goldman Sachs 10,000 Small Businesses to launch at Cincinnati State

While small businesses are a major growth engine for the economy, it can be a challenge for small business owners to acquire the skills they need to take their businesses to the next level.

That will change September 9 when Cincinnati Mayor John Cranley will join Cincinnati State President Dr. Monica Posey and other regional leaders to announce the launch of the Goldman Sachs 10,000 Small Businesses program at Cincinnati State.

The press conference to announce the new program takes place at 10:30 a.m. in the First Floor Lounge of the ATLC Building on Cincinnati State’s Clifton Campus, 3520 Central Parkway in Cincinnati.

The program, which is offered at no cost with support from the Goldman Sachs Foundation, provides entrepreneurs greater access to education, capital, and business support services that will drive job creation and economic opportunity.

The curriculum for 10,000 Small Businesses was developed by Babson College, recently named No. 1 for Entrepreneurship by U.S. News & World Report.

The Goldman Sachs Foundation awarded Cincinnati State with a grant to deliver the program, which will include participation by Cincinnati State business faculty members.

“Helping employers grow is a key part of Cincinnati State’s mission,” said Posey. “We are so pleased and grateful to be partnering with the Goldman Sachs Foundation to make this opportunity available for local business owners.”

The 10,000 Small Businesses program will begin in February. The goal is for the first class to include a 50-50 ratio of men and women business owners, and to work with government, business and community entities to ensure that minority-owned businesses are also included.

“Small businesses are vital to the health of our economy and core to what makes our communities strong,” said Asahi Pompey, Global Head of Corporate Engagement and President of the Goldman Sachs Foundation.

“Our belief in America’s small business owners has been unwavering over the decade we have run this program. We look forward to supporting Cincinnati’s continued progress as a center for small business growth. Cincinnati’s entrepreneurs will now join a community that is over 8,600 strong across all 50 states.” 

“One of our region’s remarkable strengths is the diversity of its people and businesses,” said Cranley. “We are thrilled to be part of this great program and look forward to working together as a united front to cultivate and support small businesses.”

To qualify for the 10,000 Small Businesses program, a participant must be the owner or co-owner of a business that has been in operation for at least two years, has annual revenues above $150,000, and has at least four employees.

Applications to participate in the 10,000 Small Businesses program are open and available at 10ksbapply.com/Ohio. Applications are due on October 18.

Cincinnati State is planning to hold three information sessions for those interested in the 10,000 Small Businesses program:

• September 19, 4:00-5:30 p.m., Union Institute, 440 E. McMillan Street, Cincinnati, 45206
• October 3, 4:00-5:30 p.m., Cincinnati State Workforce Development Center, 10100 Reading Road, Cincinnati, 45241
• October 15, 8:00-9:30 a.m., Cincinnati State Workforce Development Center, 10100 Reading Road, Cincinnati, 45241

In June, Goldman Sachs 10,000 Small Businesses announced the expansion of its program in Ohio to include regional hubs in Cincinnati, Columbus, and Dayton. The program has been operating in Cleveland for several years.

To date nationally, nearly 9,000 small business owners from all 50 states, Washington, D.C. and Puerto Rico have graduated from 10,000 Small Businesses. The program’s results include:

• 67 percent of graduates see revenue growth six months after completing the program
• 47 percent report creating new jobs six months after completing the program

For more information about 10,000 Small Businesses, contact Cincinnati State’s Workforce Development Center at (513) 569-1643.