By Community College of Rhode Island
The Goldman Sachs 10,000 Small Businesses (10KSB) Rhode Island program seeks applicants for its 15th Cohort, to launch September 2021. Applications are due by June 1st at 10ksbApply.com
Now in its fifth year of operation, Rhode Island’s premier business growth education program has trained over 350 Rhode Island small businesses since its first cohort launched in the fall of 2016. The program is free for participants and is delivered in partnership with the Community College of Rhode Island.
The 10KSB program provides business education, support services and pathways to capital for growth-oriented entrepreneurs. Small business owners from any industry sector with at least one employee and two years in operation can apply to take the three-month business growth education course to gain practical skills to take their business to the next level. Topics covered include financial statements, negotiations, marketing, hiring for growth and bankability.
Guided by a world-class curriculum designed by Babson College, participants develop an actionable growth plan for their business with the help of one-on-one business advising and a network of like-minded entrepreneurs. The Fall Cohort will either be held in-person at CCRI’s Knight Campus in Warwick, or delivered virtually, depending upon COVID-19 conditions and guidance for September, 2021.
Across the U.S., 10,000 Small Businesses alumni are increasing their revenues and creating new jobs in their communities: 66% reported increasing revenues just six months after graduating, and 47% reported creating new jobs just six months after graduating. Eighty-six percent of 10KSB graduates report that they are doing business with each other.
Last week, four alumni of the RI 10KSB program were chosen to participate in a women-led small business roundtable hosted by Vice President Kamala Harris and Commerce Secretary Gina Raimondo when they visited Rhode Island on May 5th.
One of the 10KSB alumni participants, Minnie Luong, CEO of Chi Kitchen Foods in Pawtucket, RI, told the Vice President: “10KSB gave me the confidence and the foundation to get me through the pandemic. If I hadn’t had that foundation, I would not be in business today.”
To date, Goldman Sachs 10,000 Small Businesses has served over 10,000 businesses nationwide, including 352 Rhode Island businesses. More details about the Goldman Sachs 10,000 Small Businesses Rhode Island program can be found at CCRI.edu/10ksb