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Contact: Ann Hatch, DCCCD Media Relations214-378-1819;
For immediate release — July 27, 2015
(DALLAS) — Almost 100 North Texas small business owners have already participated in a program that has been highlighted in a new progress report compiled by Babson College, which shows how and why the Goldman Sachs 10,000 Small Businesses initiative helps entrepreneurs across the United States grow their businesses and create jobs. Dallas County Community College District hosts the program for the Dallas-Fort Worth area, and business owners enrolled in the initiative participate in the Goldman Sachs 10,000 Small Businesses management and education classes at the Bill J. Priest Institute for Economic Development, a campus of El Centro College in the DCCCD system.
The most recent report, Stimulating Small Business Growth: Progress Report on Goldman Sachs 10,000 Small Businesses, details the progress of thousands of small businesses that have participated in the 10,000 Small Businesses program. The report surveyed approximately 2,300 of the nearly 5,000 participants who now have benefited from the program.
“In just 18 months after completing the program, 76 percent of program graduates increased their revenues, and 57.1 percent created new jobs,” said Kerry Healey, president of Babson College, which is the academic partner for 10,000 Small Businesses. “The growth-oriented, practical, peer-to-peer- driven classroom experience, together with business support services, are driving participants to change their attitudes and business practices, helping them to achieve significant growth — growth that is critically important to strengthening the U.S. economy.”
“The success of the Goldman Sachs 10,000 Small Businesses participants who have graduated this year nationally is why DCCCD is involved in this excellent program. It reflects our mission, which supports workforce training and economic development,” said Dr. Joe May, DCCCD’s chancellor. “We congratulate graduates across the country who have completed the program, and we look forward to seeing measures of success for our own students in Dallas/Fort Worth as they graduate, too. Our partnership with Goldman Sachs is critical to the success of broad-based efforts to strengthen both the area’s workforce plus our state and national economy as we train tomorrow’s workforce, providing the evolving skills they need.”
The report states that the program has a graduation rate of 99 percent, and findings show that 84 percent of small business owners participating have done, or are doing, business with each other.
“These results confirm that small businesses continue to play a central role in spurring economic growth and job creation in their communities and nationwide, and we are so pleased to see how this program has contributed to their success,” said Dina Habib Powell, president of the Goldman Sachs Foundation and head of the firm’s Impact Investing business. Three local area business owners who took part in the program are among 10KSB alumni who overcame some of those challenges.
Paula Stein of My Personal Valet, who graduated from the first class at DCCCD, said, “The program helped me set clear goals for myself and for my business. I definitely feel more confident as a leader. The frustrations and challenges of being a business owner are still present, but I have a new attitude and process for dealing with them. Communication with my employees has improved, and I have gotten buy-in and support for growing my business.”
Ken Flemming of Global Dynamix said, ”The 10KSB program helps me focus on what matters most and the tools I need to make the most of it. We now have a written plan and the momentum to implement it. We are well on our way to making GDX 2.0 a reality. We are in the negotiation phase of relocating our businesses and expanding by nearly double. We are retooling our organization by adding new technologies and new staff, and I am proud that we are seeing a trend in sales that will support us as we make our move and get bigger.”
Hussain Manjee of Dallas HD Films said, “The Goldman Sachs 10,000 Small Businesses program has taught me to think differently about opportunities I would like to pursue, about building systems for my growth, and — most importantly — about taking regular time to reflect on my business. I have been making an effort to do all of this regularly and have made improvements to my business, knowing this is a journey that can take several years. Last year, our company won an award that we hold dearly to our heart. We won the Greater Dallas Business Ethics Award and realized we are the smallest and youngest company to ever win this honor.”
“As we work with business owners, we see that the program has transformed them and their businesses. The report clearly shows the positive impact that the 10,000 Small Businesses program brings on a national scale. The national report showed that 67 percent of participants of the program reported increasing their revenue, and 46 percent of participants have reported creating new jobs just six months after graduation. Now knowing those statistics, we are excited to see the North Texas results from our first cohort that is now in the process of reporting their six-month successes,” said Cristin Thomas, executive director of the 10,000 Small Businesses program at DCCCD.
The Goldman Sachs 10,000 Small Businesses program has reached 18 U.S. sites to date and currently has served nearly 5,000 business owners, which includes the launch of the national cohort at Babson College, giving small businesses from all 50 states the chance to participate.
For more information, contact Cristin Thomas by email at
email@example.com or by phone at 214-860-5790.
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