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UA-PTC helps Goldman Sachs 10K Small Businesses expand to Missouri, Alabama, more

The University of Arkansas - Pulaski Technical College continues to provide leadership in bringing the Goldman Sachs 10,000 Small Businesses program to the Southeast region. The latest cohort was launched at an event in Birmingham, Alabama on Sept. 6. There are 28 business owners participating in the Alabama cohort.

Initially launched in Arkansas in July 2023 with a cohort of 18 business owners, the program has quickly expanded to serve businesses in Missouri and Alabama. A new program will begin in Mississippi in spring 2025.

Key Achievements:

• Regional Growth: UA-PTC is now the Southeast Regional hub for the program, providing training and support to small business owners across the region.
• Educational leadership: UA-PTC collaborates with Babson College, State Fair Community College, Jefferson State Community College, and Hinds Community College to deliver the program. The UA-PTC staff consists of Director Kimberly Blackmon; Program Manager Lillie Peterson; Project Coordinator Terence Bolden; and Lead Faculty L.B. Hudson. The curriculum is delivered by UA-PTC business faculty Vondra Armstrong, Beverly Brister, Robert Coates, April Hearne, Mindy Hodges, and Lindsay Kullenberg, along with Misty Burnett and Curtis Hartley of State Fair Community College.
• Economic Impact: 50 business owners are graduates of the programs in Arkansas and Missouri. Together they have generated a combined revenue of $42.3 million and created 1,592 jobs.
• Diverse Cohorts: The program has attracted a diverse group of participants, with 65% being women-owned businesses and 51%being minority-owned.

In October 2023, Goldman Sachs has announced a $100 million commitment to expand the 10,000 Small Businesses program to rural communities, with a goal to reach rural communities across 20 states within the next five years. UA-PTC received a $964,547 grant to support the program in Arkansas.

The 10,000 Small Businesses initiative is part of a national investment to unlock the growth and job creation potential of small businesses, and is based on the broadly-held view of leading experts that a combination of education, business support services, and access to capital best addresses the barriers to growth for small businesses.

The 10,000 Small Businesses program has three main components: business education, business support services, including technical assistance and customized, one-on-one business advising, and the opportunity to access capital. The ultimate goal of the initiative is for the participating business owners to increase their revenues and create jobs in their community and surrounding areas.

Through its focus on education, support, and access to capital, 10,000 Small Businesses is helping businesses thrive and create jobs in their communities.