Goldman Sachs 10,000 Small Businesses At Delgado Community College Graduates More Than 90 Businesses Today
NEW ORLEANS – Today, more than 90 entrepreneurs representing three classes of participants will graduate at Delgado Community College from the Goldman Sachs 10,000 Small Businesses program, bringing the total number of graduates to more than 400 in the Greater New Orleans region. Graduates join more than 5,600 business owners who have benefited from the program nationally.
The graduation ceremony will take place today, Monday, October 26, 2015, at 10:00 a.m., at the Delgado Community College City Park Campus, 615 City Park Ave., in the Student Life Center.
U.S. Congressman Cedric Richmond (LA-2), head of Goldman Sachs’ Atlanta office David Fox, and Delgado Community College Chancellor Joan Davis will address the graduates.
Over the past year, business owners who took part in the program represented industries that include construction, manufacturing, food service, retail and transportation. Together, these businesses employ more than 1,564 people and represent over $98.8 million in revenues. Participants received practical business and management education, business support services, and access to capital to help their businesses grow.
A new report released this year by Babson College shows that 10,000 Small Businesses program graduates report revenue growth and job creation at a higher rate than small businesses nationally. Almost 100 percent of the scholars graduate, with 84 percent who report doing business with each other after graduation. In addition, 76 percent report increased revenues by 18 months after graduating and 57 percent report the creation of new jobs 18 months after graduating.
“Each graduate of the Delgado Community College program deserves recognition for a substantial time commitment dedicated to completing a rigorous training program that has repeatedly proven to help grow businesses,” said Carla Coury, executive director of the Goldman Sachs 10,000 Small Businesses program at Delgado Community College. “We are proud to honor more than 90 business owners whose lives and companies have been transformed because of their investment in themselves, their businesses, and in the local economy.”
With more than 125 partners and affiliate organizations, the 10,000 Small Businesses program has served over 5,600 small business owners through 27 sites across the U.S. and UK, including a national blended learning program.
A $500 million investment by Goldman Sachs and the Goldman Sachs Foundation supports the project in partnership with Babson College and the Initiative for A Competitive Inner City.
Local partners in New Orleans include the City of New Orleans, Delgado Community College, Greater New Orleans, Inc., Hope Enterprise Corporation, Louisiana Small Business Development Center, The Idea Village, and The Urban League of Greater New Orleans.
Prospective applicants to the program are required to have above $150,000 in revenues, have been in business for at least two years, and have at least four full-time employees.