Local Entrepreneurs Graduate From “Goldman Sachs 10,000 Small Businesses” Program At LBCC
2015-03-17 · By Editor
A group of 22 local entrepreneurs celebrated the completion on Friday (March 13) of the Goldman Sachs 10,000 Small Businesses (10KSB) program held at Long Beach City College, which assists business owners to further develop their businesses and skills to lead in the growth of small firms.
More than 590 business owners have graduated from the program since 2010. 10KSB provides business and management education, support services and access to capital for entrepreneurs who are seeking to grow their established small businesses.
The latest graduates presented their business growth plans as a final project. Businesses include a swimsuit design company, an antique restoration business, an engineering firm, a technology company, a postal and shipping center, a restaurant and an industrial tool supplier.
Debbie Rossetti-Colacion, owner of the Blackbird Café in Long Beach, was among the graduates. She said the program “gave me the confidence to grow my business. It was great to meet other business owners who have the same challenges and learn from each other.”
Graduate Sophia Nguyen, owner of Hudavi Wellness, added: “The 10,000 Small Businesses program is invaluable for small businesses and it provided me with a hands-on business coaching experience. The engagement of staff and peers makes it easier to develop a growth plan.”
While 10KSB participants are from throughout Southern California, about 25 percent of the most recent graduates were Long Beach businesses.
“We have seen the amazing success of 10KSB through our graduates, many of whom attribute the growth of their businesses to what they learned in the program,” said Vivian Shimoyama, Regional Executive Director for the Southern California Region Goldman Sachs 10,000 Small Businesses.
One example, she said, was the company VSolvit, owned by a 2014 graduate, Payal Kamdar. VSolvit recently received a five-year, single award, $500 million ceiling small business competitive contract with the U.S. Department of Agriculture.
Across the United States, initial results of the education program have shown that just six months after graduation, 64% of participants reported an increase in their revenues and 45% reported creating net new jobs. In addition, the program has a 99% graduation rate and 80% of graduates are doing some form of business with each other.
For more information about how to apply to this free program visit www.SoCal10KSB.com.