Goldman Sachs to Launch Small Business Program in Minnesota

ST. CLOUD (WJON News) -- Thirty-two small business owners across Minnesota are poised to launch their company to the next level.

Goldman Sachs 10,000 Small Businesses program is hosting a kickoff event in St. Cloud on Friday.

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They are investing $100 million in rural communities as an initiative to reach small business owners in 20 states over five years.

President of the Goldman Sachs Foundation Asahi Pompey says they've already selected the small businesses that will participate in 100 hours of free instruction.

We're going to be working with 32 small business owners from all across Minnesota from Lansboro, to Hermantown, to Becker providing them the best in class business education programs completely free of charge.

The classes will be partially in-person at the St. Cloud Technical and Community College and partially online starting Friday and running through December 20th.

Pompey says St. Cloud was selected as the host city so they could gain access to more rural small business owners.

Pompey says small business owners who want to grow their company will be in the program.

Growth-oriented business owners who say they are happy with their progress to date, but really want to open a new facility, or introduce a new product.

Pompey says to qualify they also have to have been in business for at least two years, have revenue exceeding $75,000, and have at least two employees.

She says even though the program is called 10,000 Small Businesses, since the program launched 15 years ago 16,000 small business owners have gone through the program.

Pompey says 99 percent of all businesses in Minnesota are small businesses, and 50 percent of Minnesotans are employed by a small business.