Stimulating Small Business Growth - A Report on the 10,000 Small Businesses Program
Small business owners who participate in the 10,000 Small Businesses program gain valuable skills and experiences which help them to grow their businesses, according to a new report developed by Babson College.
The report, Stimulating Small Business Growth, found that many graduates of the program indicated seeing a significant impact in their businesses from when they entered the program to six months after graduation. Moreover, participants change how they lead their businesses, access capital, and capitalize on networks. The report's findings are based on information collected through the 10,000 Small Businesses measurement and evaluation system.
Goldman Sachs 10,000 Small Businesses launched in 2009 as an investment to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital and business support services.
The diagram below shows that after 6 months of graduating 10,000 Small Businesses program, more than 6 in 10 participants increased the revenues of their businesses—and more than 4 in 10 created new jobs and hired additional people. These figures are significantly higher than what businesses in the US reported from 2012 to 2013.