[h1_heading]Small businesses create economic growth.[/h1_heading]
The town hall panel discussion at Long Beach City College focused on Small Business Growth in America. Mayor Foster, Lloyd Blankfein and two 10,000 Small Businesses graduates answered questions from the moderator and from the audience on the positive effects that giving business education and capital to small business owners has on economic growth and job creation.
IN THE NEWS: Goldman Sachs Program Honors Small Business Initiative Participants [Long Beach Press-Telegram] “Today’s town hall was a great opportunity for thoughtful discussion among leaders of local government, big business and our Long Beach community on how we can collectively support small businesses growth,” said Long Beach Mayor Bob Foster. “Goldman Sachs had many choices and Long Beach is fortunate to have been selected among those cities selected to host this initiative. This has been a tremendous opportunity to invest in and develop our local small business talent.”
Goldman Sachs 10,000 Small Businesses is a $500 million investment to help small businesses in the United States create jobs and economic growth. The program is currently active in eight sites: Chicago, Cleveland, Houston, Long Beach, Los Angeles, New Orleans, New York and Salt Lake City. To date, it has a 99% overall graduation rate, and among the first five groups to participate, approximately 70% of participants have reported increasing their revenues and 50% have reported creating net new jobs. More than 900 small business owners have participated in Goldman Sachs 10,000 Small Businesses. To date, nearly 250 people have participated in the program in Southern California.