Stories of Technology, Innovation, & Entrepreneurship in the Southeast

During National Small Business Month, Goldman Sachs 10,000 Small Businesses graduated its inaugural cohort of Mississippi small business owners from its small business education program as part of its $100 million Investment in Rural Communities.

The expansion was launched in 2023 with the goal of reaching 20 predominantly rural states in five years. As Mississippi is the 10^th state with a graduating cohort, the initiative is now halfway to its goal in under two years. The investment, an extension of Goldman Sachs’ 10,000 Small Businesses program, helps to equip rural entrepreneurs with results-oriented training to help grow their businesses and help provide access to capital and personalized support services.

Goldman Sachs’ $100 million Investment in Rural Communities provides comprehensive support to rural small business owners. The investment includes $75 million to Community Development Financial Institutions (CDFIs) to provide loans to small businesses, $15 million in funding for the business education programs at local community colleges, and $10 million in access to capital capacity-building grants. As part of the $100 million commitment of the initiative, Goldman Sachs has an established partnership with Mississippi-based CDFI Hope Enterprise Corporation to help provide support to rural small business owners in Mississippi and across the Southern U.S. 

This year, Goldman Sachs 10,000 Small Businesses celebrates its 15^th anniversary. The program has supported more than 16,600 small businesses, representing over $27 billion in revenue and 307,000 employees nationwide. According to the program’s 2024 Impact Report, six months after graduating, 66 percent of alumni reported increased revenue, and 44 percent created jobs in their community. Additionally, nearly 90 percent said they grew in confidence in critical business owner skills, and 99 percent were likely to recommend the program to a friend or family member.

---