DES MOINES — A year ago at the 2018 Iowa State Fair, Goldman Sachs 10,000 Small Businesses made a commitment to serve entrepreneurs in rural and urban communities across Iowa. On Aug. 9, the program returned to the iconic State Fair to celebrate its first two cohorts of 73 Iowa entrepreneurs, joined by Gov. Kim Reynolds, supermodel and entrepreneur Tyra Banks and Goldman Sachs Chairman and CEO David Solomon.
Business owners represented diverse industries, including farming and welding, and hailed from 20 different counties statewide. Small business owners and their families, friends and employees had a front row seat to a modern take on a commencement speech – a conversation with Tyra Banks, moderated by David Solomon. The conversation explored Banks’ career and her perspective on programs such as Goldman Sachs 10,000 Small Businesses — including the value of investing in growing your skillset and knowledge.
“I want to offer my congratulations to the graduates, their families and employees,” said David M. Solomon, Chairman and Chief Executive Officer. “The success of this program in Iowa was made possible by all of our local and national partners, including Governor Reynolds and President Denson. We were thrilled to celebrate the innovation and determination of small business owners, and I was able to see first-hand how they are applying the program’s lessons to drive economic growth and opportunity across Iowa.”
“Goldman Sachs 10,000 Small Businesses is truly unique - a proven model providing business owners with the tools they need to succeed through access to business education, capital and support services,” said Reynolds. “Goldman Sachs is known for being a smart investor – and their investment in the small businesses of Iowa is no exception. We’re proud to have a partner in Goldman Sachs 10,000 Small Businesses to help lift and empower Iowa’s main street small businesses.”
Goldman Sachs 10,000 Small Businesses helps entrepreneurs create jobs and economic opportunity by providing greater access to education and business support services. The program, which is provided at no cost with support from the Goldman Sachs Foundation, offers a curriculum designed in partnership with Babson College, recently named No. 1 for Entrepreneurship by U.S. News & World Report for the 22nd year in a row.
“DMACC has enjoyed leading this statewide effort working with the Goldman Sachs Foundation to improve the economic prospects of small businesses. This important program advances the State of Iowa, our communities, and the growth of participating companies. Our team looks forward to continuing to bring 10,000 Small Businesses to Iowa’s business community” stated Rob Denson, DMACC President.
Local graduates include (1st Class) Dylan Book, BigDeal Enterprises, Adel; (2nd Class) Clint Dudley, Shade Tree Auto, Grimes; (2nd Class) Elizabeth Holland, Adel Veterinary Clinic, Adel; (2nd Class) Lisa Thilges, Prairie View Animal Hospital, Grimes; (1st Class) Mike Vaughn, BDI Signs, Grimes.
To date, more than 8,600 small business owners from all 50 states, Washington, D.C. and Puerto Rico have graduated from the program. Program results are strong: 67 percent of graduates see revenue growth six months after completing the program; 47 percent report creating net new jobs six months after completing the program
Goldman Sachs 10,000 Small Businesses delivers a practical business education for small business owners across Iowa at DMACC, in partnership with Iowa’s community colleges. Eligible businesses have been in business for at least two years, have at least $100,000 in revenue, and have at least two full-time employees (including the business owner). Businesses of all types and across all industries are encouraged to apply.
Accepted applicants receive hands-on education for business growth, access to highly-trained, small business professionals and an expanded peer network of small business owners from across the country. The program is part of the Goldman Sachs Foundation’s philanthropic efforts to help entrepreneurs create jobs and economic opportunity.
Applications for the education program are currently being accepted. Visit www.10ksbapply.com/ to apply. The program is offered at no cost to business owners accepted through a competitive application process.