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Goldman Sachs to hand out $500 million for small businesses. Kind of ...
Location: Blogs HispanicSMB Blogs |
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| Posted by: Hispanic SMB |
11/22/2009 |
Goldman Sachs recently announced that it was partnering with billionaire Warren Buffett to launch the 10,000 Small Businesses Initiative -- a $500 million initiative that "will unlock the growth and job-creation potential of 10,000 small businesses across the United States." So you may be asking yourself "so how do I get my share?". Well, before you order any fancy new equipment for your business, read on. As always, el diablo is in the details ...
 So just how exactly are Goldman and Buffett going to invest a half a billion in small businesses? One thing we know for sure is that they are not just going to write you a check. Not directly at least. Rather than handing out cash or easy credit, the program calls for a combination of education, capital and support services.
Here's are the details of the three components of the program, straight out of the press release in the Goldman site:
• Business and Management Education: Small business owners will receive practical business education delivered through partnerships between local community colleges, universities and other institutions. 10,000 Small Businesses will contribute $200 million to these partners to provide scholarships predominantly to underserved small business owners and build educational capacity.
• Mentoring and Networking: Advice, technical assistance, and networking will be offered to participating small business owners through partnerships with national and local business organizations, as well as the people of Goldman Sachs.
• Access to Capital: Goldman Sachs will invest $300 million through a combination of lending and philanthropic support to Community Development Financial Institutions (CDFIs). The investment will increase the amount of growth capital available to small businesses in underserved communities and expand the capacity of the CDFIs to deliver enhanced technical assistance to small businesses. 10,000 Small Businesses will provide technical assistance to graduates of the program to help them access other sources of capital.
Not much more beyond this is known as of today. In fact we could not find not a simple web page providing details of the program. Strange. Also, it is unclear if Minority status or certification will be a factor for consideration. And so we will need to wait until more details are available before we get really excited. In any case, it is great to see these types of initiatives. It shows that these guys understand that the key to get the country going again is healthy small businesses. Here's the link to the Goldman press release.
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Re: Goldman Sachs to hand out $500 million for small businesses. Kind of ... |
By bmelendez on
1/12/2010 |
| Too bad whoever posted this isn't an aggressive investigative reporter. After all, the pres release does have contact info that anyone can follow up on. |
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Re: Goldman Sachs to hand out $500 million for small businesses. Kind of ... |
By HispanicSMB Editorial on
1/12/2010 |
| Actually, for the record, the contacts that appear on the Goldman press release are for individuals who work in corporate communications and so their role is to handle media inquiries and not to address individual information requests. Thanks for the feedback just as well. |
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Small Business |
By Robert on
1/28/2010 |
| Small business<br><br> Small Business owners are largely forgotten. Thats why I only focus on them. I have experience several members of my family file bankruptcy due to small business failures. I also I suffered through 2 destroyed businesses due to failure however, in my failings I have learned some of the secrets to success. (Who can say they know it all?<br> What I like about small business owners is that they are not afraid to take huge risks and lay it all on the line. But, I agree they do need a lot of help with their marketing. I think having them go the social media and email route is not only the least expensive but its also the most effective. Thanks for the stats!.........<br><br><a href="www.onlineuniversalwork.com">www.onlineuniversalwork.com</a><br> |
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Kamau Jackson is Senior Strategy Consultant at Internet Knowledge Solutions, a Chicago small business consulting agency. His company provides both online and offline marketing and sales strategy consulting as well as search engine optimization, and both email and text message marketing services. He is also author of the forthcoming book Capture The Home Page Advantage: How To Transform An Under-performing Website Into A Round-the-Clock Marketing Machine. For free marketing and sales training resources and more information, visit the Internet Knowledge Solutions web site.
Kamau Jackson is Senior Strategy Consultant at Internet Knowledge Solutions, a Chicago small business consulting agency. His company provides both online and offline marketing and sales strategy consulting as well as search engine optimization, and both email and text message marketing services. He is also author of the forthcoming book Capture The Home Page Advantage: How To Transform An Under-performing Website Into A Round-the-Clock Marketing Machine. For free marketing and sales training resources and more information, visit the Internet Knowledge Solutions web site.
Juan Silvera publishes and edits HispanicSMB.com. Over the last 12 years he has been a partner in three different online ventures: Fusive.com (acquired by SAIC), Connetation GmbH and Latin3. In addition to running HispanicSMB.com Juan is a Senior Vice President in the Digital Marketing division of a Fortune 100 financial institution. He has lived and worked in L.A., Mexico City, Caracas, Salzburg (Austria), Ft. Lauderdale and Charlotte, NC.
Juan Silvera publishes and edits HispanicSMB.com. Over the last 12 years he has been a partner in three different online ventures: Fusive.com (acquired by SAIC), Connetation GmbH and Latin3. In addition to running HispanicSMB.com Juan is a Senior Vice President in the Digital Marketing division of a Fortune 100 financial institution. He has lived and worked in L.A., Mexico City, Caracas, Salzburg (Austria), Ft. Lauderdale and Charlotte, NC.
Eliana Phelps is an experienced immigration attorney in California. Her law firm provides immigration services to national and international clients and has an outstanding success rate defending immigrant crime and deportation cases. Visit phelpsattorneys.com for more information.
Eliana Phelps is an experienced immigration attorney in California. Her law firm provides immigration services to national and international clients and has an outstanding success rate defending immigrant crime and deportation cases. Visit phelpsattorneys.com for more information.
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