Michael R. Bloomberg Joins 10,000 Small Businesses Advisory Council As Co-Chair
Lloyd Blankfein and Michael R. Bloomberg participate in event designed to connect 10,000 Small Businesses graduates with opportunities for continued coaching and guidance
NEW YORK, June 2, 2014 – Goldman Sachs today announced that Michael R. Bloomberg, Bloomberg L.P. founder, philanthropist and Mayor of New York from 2002-2013, has joined Goldman Sachs Chairman and CEO Lloyd Blankfein, Warren Buffett and Dr. Michael Porter as a co-chair of the Goldman Sachs 10,000 Small Businesses Advisory Council. The Council assists in the development, execution and evaluation of the Goldman Sachs 10,000 Small Businesses program, which aims to help propel small businesses forward.
On June 3rd, Lloyd Blankfein and Michael R. Bloomberg will participate in a coaching session at Bloomberg L.P. designed to help accelerate the business growth of 10,000 Small Businesses alumni by leveraging the professional expertise of Bloomberg L.P. and Goldman Sachs employees. The event will connect 10,000 Small Businesses graduates with opportunities for continued coaching and guidance from experts in the fields of human resources, finance, operations, marketing, strategy and IT.
“Mike Bloomberg has seen 10,000 Small Businesses grow from our pilot site at LaGuardia Community College in 2010, and we are grateful for his commitment to our program and to helping small businesses grow and create jobs,” said Lloyd Blankfein. “The small businesses we serve will benefit from Bloomberg’s leadership and experience as mayor, philanthropist, and entrepreneur.”
“Small businesses are the backbone of our nation’s economy, and the 10,000 Small Businesses program is aimed at helping them grow and create more jobs,” said Mike Bloomberg. “I know how difficult it is to start a small business, and I look forward to working with the Advisory Council to help more entrepreneurs succeed across the country.”
“Mike Bloomberg is a visionary entrepreneur and innovator who knows a thing or two about growing a business and creating jobs,” said Warren Buffett. “His leadership will be invaluable as we work to maximize the impact of 10,000 Small Businesses, supporting the growth and job creation of small businesses across the United States.”
“As a businessman, philanthropist and mayor, Mike Bloomberg understands the critical role that small businesses play in the development and competitiveness of inner city economies,” said Dr. Michael Porter of Harvard Business School. “I look forward to working with him to help inner city small businesses spur economic development and create jobs.”
Goldman Sachs 10,000 Small Businesses is a $500 million program that will unlock the growth and job-creation potential of 10,000 small businesses across the United States through greater access to business education, financial capital and business support services. The program is active in urban and rural communities across the United States. Sites include Chicago, Cleveland, Dallas, Detroit, Houston, Long Beach, Los Angeles, Miami, New Orleans, New York, Philadelphia and Salt Lake City. Access to capital is also available in parts of seven states: Kentucky, Maine, Montana, Oregon, Tennessee, Virginia and Washington.
A report released in February by lead 10,000 Small Businesses academic partner Babson College found that just six months after graduating 64% of participants have reported increasing their revenues, 45% of participants have reported creating net new jobs and 80% of participants have worked or are working together with other program participants. The program maintains a 99% graduate rate.
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
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