April 22, 2016
Celebrating how education and access to capital spur economic development
The Goldman Sachs 10,000 Small Businesses initiative provides business owners with critical education, and through partners like PIDC, access to capital to support their growth.On April 15th twenty-nine additional entrepreneurs graduated from the Goldman Sachs’ 10,000 Small Businesses-Greater Philadelphia program, bringing the total number of regional graduates to 251.
The graduates join the other small business owners who have previously participated in the program; and are now spurring their local economies, and creating jobs in every county in this region, going as far east as Atlantic City and as far south as Delaware.
The graduates represent a wide variety of industries, and 673 years of cumulative experience. Each owner leaves with a new set of business tools and growth strategies designed to support them as they work toward the next level of success. Last year, a Babson College survey found that small business owners who had completed the 10,000 Small Businesses course outperformed other U.S. small businesses overall in revenue growth and job creation. Locally, 52 percent of those who graduated from Community College of Philadelphia’s program have created jobs after completing the program; and 61 percent have reported an increase in revenues just six months after leaving the program.
John Grady, president of PIDC, Philadelphia’s public-private economic development corporation, was the keynote speaker, and was joined by the leaders of Community College of Philadelphia and Goldman Sachs at graduation.
“PIDC is a proud partner in the Goldman Sachs 10,000 Small Businesses initiative,” said John Grady. “This program provides business owners with critical education, and through partners like PIDC, access to capital to support their growth. PIDC is dedicated to driving growth in Philadelphia and we know that small businesses are key to our success. We are thrilled to see another class of graduates with a greater understanding of their business and the capital needs to support their growth.”
Nicole Pullen Ross, the Mid-Atlantic Head of Goldman Sachs, added, “The small business owners who are graduating help to strengthen the Philadelphia economy through the jobs they’re creating, and the revenues that their businesses are generating. We are pleased to work with local partners in this program as we continue to strengthen our longstanding commitment to the Philadelphia region.”
Tina Wells, CEO & Founder of Buzz Marketing Group, and a graduating scholar of the 2016 class, delivered remarks during the ceremony reflective of the program, and the group’s achievements.
“At the outset, I didn’t fully realize how much it would take me outside of my comfort zone to participate fully in this program, but I have been struck by how the experience has forced me and my team to work differently. Our firm has earned more than 75 percent of what it earned all of last year in this first quarter – while I was in the program. Our projections are now worlds from what I had envisioned they could be.”
Goldman Sachs 10,000 Small Businesses program has provided Philadelphia area entrepreneurs with timely strategies for managing and growing successful businesses since 2013. Goldman Sachs made an investment in PIDC and Community First Fund to give greater access to capital for small business owners.
Applications for 10,000 Small Businesses are accepted on a rolling basis at the Community College. The program is open to business owners from across the Greater Philadelphia region. Learn more at http://www.ccp.edu/10KSB and www.10ksbapply.com.
About Goldman Sachs 10,000 Small Businesses
Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital and business support services. The program is based on the broadly held view of leading experts that greater access to this combination of education, capital and support services best addresses barriers to growth for small businesses. More at www.10ksbapply.com or on Twitter @gs10ksmallbiz.
About Community College of Philadelphia
Community College of Philadelphia is the largest public institution of higher education in Philadelphia and the sixth largest in Pennsylvania. The College enrolls approximately 34,000 students annually and offers day, evening, and weekend classes, as well as classes online. Visit the College at www.ccp.edu. Follow us on Twitter @CCPedu. Like us on Facebook at www.facebook.com/ccp.edu.
PIDC is Philadelphia’s public-private economic development corporation. A non-profit founded in 1958 by the City of Philadelphia and the Greater Philadelphia Chamber of Commerce, PIDC’s mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. Over the last 58 years, PIDC has invested nearly $14 billion of financing and more than 3,100 acres of land sales – which has leveraged over $25 billion in total project investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia. PIDC is the capital partner for the Goldman Sachs 10,000 Small Businesses program in Philadelphia. For more information about PIDC, visit www.PIDCphila.com and follow us @PIDCphila on Twitter.