Results

Jul. 9, 2015 3:32 pm

Goldman Sachs 10,000 Small Businesses program is paying off in Philly

Of the 169 business alumni, many have been recognized for excellence

A new report released on July 8 from Babson College found that the small business owners who have completed the Goldman Sachs 10,000 Small Businesses program grow their revenue and create jobs at rates that outperform the broader economy. In Philadelphia specifically, the results are already promising.

The report surveyed approximately 2,300 of the nearly 5,000 entrepreneurs who have now benefited from the program, including some of those who completed the coursework at Community College of Philadelphia. Greater Philadelphia’s graduates thus far have surpassed Goldman Sachs national performance rate for net job creation.

Among the key findings:

  • Fifty-two percent of Philadelphia graduates have reported creating net new jobs just six months after graduating, compared to 22 percent of U.S. small businesses, according to a survey by the National Small Businesses Association (NSBA).
  • Sixty-one percent of the Philadelphia graduates have reported increasing their revenues just six months after graduating – compared to 45 percent of U.S. small businesses according to a NSBA survey  (After 18 months, the national rate for those graduates increasing revenues rose to 76 percent.)

“Goldman Sachs 10,000 Small Businesses has provided Philadelphia with an entrepreneurial boost demonstrated in the job creation and increased revenues our small businesses are already showing,” said Mayor Michael A. Nutter.  “It has also helped executives at these small businesses to network, share resources and collaborate so they can handle larger projects.”

In Philadelphia:

  • 169 businesses have graduated to-date, with the majority collaborating or referring work to other graduates.
  • Four of those businesses have moved into shared space at the Philadelphia Navy Yard.
  • Four businesses received the Greater Philadelphia Chamber of Commerce’s 2014 Small Business Excellence award.
  • Seven of those business made the Philly 100.
  • Two of the five most recent Small Business Administration regional winners were Greater Philadelphia alumni.

“The College continuously seeks new ways to help Philadelphians create life-changing opportunities, whether it is by training for a new career, transferring to a baccalaureate-level institution or growing a business,” said Dr. Donald Guy Generals, president of Community College of Philadelphia. “The Goldman Sachs program provides a learning hub for a diverse array of the region’s talented social and business entrepreneurs.”

From our Partners

The Babson College report can be viewed here.

Image via Flickr User Morgan Burke

-30-

From our Partners

Stomping Grounds Café celebrates ‘magic’ of coffee in West Philadelphia

A strong school district = stronger communities

Letters to our ancestors

SPONSORED

Generocity Philly

Meet Kim Andrews, new executive director for The Fund for Women and Girls

Wallingford, PA

Pendle Hill

Events Coordinator

Apply Now
Media, PA

The Foundation for Delaware County

Communications Manager

Apply Now
Philadelphia, PA

Maternity Care Coalition

Therapist (MFT)

Apply Now

Opinion: We can’t let learning loss worsened by COVID deepen opportunity gaps for Philly students

Preserving the lessons of the past to build a future of tolerance

3 important outcomes for young people who are taught critical race theory

SPONSORED

Generocity Philly

Be the leader to bring a 26-year mission into the future in Chester County

Philadelphia, PA

Maternity Care Coalition

Clinical Supervisor

Apply Now
Philadelphia, Pa

Community Legal Services

Housing Unit: CO-Managing Attorney

Apply Now
Philadelphia, Pa

Community Legal Services

SENIOR ACCOUNTANT

Apply Now
   
       
       

Subscribe to Generocity

       
* indicates required