Goldman Sachs Boosts Rural Businesses in Minnesota

Minnesota's rural small business owners are about to get a significant boost, thanks to Goldman Sachs. The financial giant has launched its 10,000 Small Businesses program, aiming to help small businesses grow and thrive. St. Cloud is hosting the kickoff event this Friday, where 32 lucky entrepreneurs from across the state will be selected. Goldman Sachs is investing a whopping $100 million in rural communities over five years, spreading their program across 20 states. Asahi Pompey, the president of the Goldman Sachs Foundation, explains that these small businesses will receive top-notch business education completely free of charge. The program combines both online and in-person classes, running from Friday until December 20th at St. Cloud Technical and Community College. The location was chosen to give more rural small business owners access to the program. To qualify, businesses must have been operating for at least two years, have annual revenue exceeding $75,000, and employ at least two people. Pompey notes that despite its name, the 10,000 Small Businesses initiative has helped over 16,000 small business owners since its inception 15 years ago. Minnesota is a perfect fit for this program, as 99% of all businesses here are small, and half of Minnesotans are employed by one. This shows just how crucial small businesses are to the state's economy. The goal is to help these owners grow their companies further, whether it’s by opening new facilities or introducing fresh products.