Rife International, along with 120 other small businesses from across the country and Puerto Rico, recently graduated from the Babson cohort of the Goldman Sachs 10,000 Small Businesses program hosted at Babson College. The $500 million public-private partnership was established to help entrepreneurs create jobs and economic opportunity by providing them with greater access to education, financial capital and business support services. The program required participants to complete rigorous on-line and in-person practical entrepreneurship training led by Babson’s business experts, peers, and business executives. The program is designed to nurture business growth for businesses that are at least two years old and claim at least four employees. The businesses graduating from the recent Babson cohort represent a total of $260 million in revenues and nearly 3,000 jobs from a broad range of industries.
“The 10,000 Small Businesses program provided a tremendous opportunity for us to identify our current best practices and areas for growth. I believe the training and lessons learned throughout the program will elevate us as an organization, and challenge us to thoroughly re-assess our strategic outlook for the next few years. I can’t thank Babson and the program’s instructors enough for their time and willingness to share their resources with the group.” Kwabena Osei-Sarpong, President of Rife International, LLC
Goldman Sachs 10,000 Small Businesses has served nearly 5,000 small businesses across the United State and United Kingdom. The program is currently operating in Chicago, Cleveland, Detroit, Houston, Long Beach, Los Angeles, Miami, New Orleans, New York, Philadelphia and Salt Lake City. It will continue to expand on a city-by-city basis. The 10,000 Small Businesses program is guided by an Advisory Council co-chaired by Goldman Sachs chairman and CEO Lloyd C. Blankfein, Bloomberg L.P. founder, president and CEO, and 108th Mayor of the City of New York Michael R. Bloomberg, Berkshire Hathaway chairman and CEO Warren Buffett, and the Initiative for a Competitive Inner City’s Dr. Michael Porter. The National Urban League and the U.S. Hispanic Chamber of Commerce are also represented on the Advisory Council, among other groups.
Impact of 10,000 Small Businesses
Small business owners who participate in the Goldman Sachs 10,000 Small Businesses program gain valuable skills and experiences which help them to grow their revenue and create jobs at a higher rate than the national average, even 18 months after graduating, according to a new report developed by Babson College.