Mary T. Barra Joins Goldman Sachs 10,000 Small Businesses Advisory Council
November 20 2018 - 8:35AM
Business Wire
Goldman Sachs today announced that Mary T. Barra, General Motors
Chairman and CEO, has joined Goldman Sachs Chairman Lloyd
Blankfein, Michael Bloomberg, Warren Buffett and Dr. Michael Porter
as a member of the Goldman Sachs 10,000 Small
Businesses Advisory Council. The Council provides strategic
oversight to the Goldman Sachs 10,000 Small
Businesses program, which delivers practical business
education and access to capital for small businesses.
Ms. Barra’s appointment was announced during the program’s
signature Coaching Session, where Goldman and Bloomberg employees
tackle business challenges with over 15 alums of the 10,000 Small
Businesses program every year. Coaching sessions cover a number of
operational challenges for small business owners, including human
resources, finance, operations, marketing, strategy and IT.
“Mary is a proven leader who has demonstrated a unique
combination of insight and execution throughout her incredible
career,” said Lloyd Blankfein. “Goldman Sachs 10,000 Small
Businesses is thrilled to be able to benefit from her contributions
as the program continues to help entrepreneurs create jobs and
economic opportunity in Detroit and across the country.”
“Since its launch, I’ve admired the model and work
of 10,000 Small Businesses. No matter how big or small a
company is, the business environment is very demanding.
Collectively sharing the best of what we’ve learned will enable a
more open, constructive dialogue. I’m looking forward to both
contributing and learning in this new role,” said Mary Barra.
In addition to Ms. Barra’s leadership on the Advisory Council,
General Motors will offer the expertise of its employees to current
scholars and alums of the 10,000 Small Businesses Program through
offerings on relevant topics; for example, recommended supply chain
and procurement practices for small business owners working with
larger corporations. This will kick-off with a 10,000 Small
Businesses Detroit area alumni event in early 2019.
Goldman Sachs 10,000 Small Businesses launched in Southeast
Michigan in 2013 and has committed $20 million to help the region’s
small businesses by providing entrepreneurs with practical business
education, access to capital, and business support services. To
date, nearly 400 business owners have participated in the program.
A sign of the region’s entrepreneurial drive and “can-do” spirit,
Southeast Michigan alumni have seen significant growth in revenue
and job creation, and are a catalyst for Detroit’s small business
ecosystem.
Goldman Sachs 10,000 Small Businesses is informed by the broadly
held view of leading experts that greater access to education,
capital and support services best addresses barriers to growth for
small businesses. In addition to Detroit, the program spans
thirteen additional regional sites and a National cohort.
A 2018 report by Babson College found that just six months after
graduating the program, 67 percent of participants reported
increasing their revenues, 47 percent of participants reported
creating net new jobs and 88 percent of participants have worked or
are working together with other program participants. The
program maintains a 98.5 percent graduation rate. To learn more
about 10,000 Small Businesses, please visit:
www.goldmansachs.com/citizenship/10000-small-businesses/US/
About Goldman Sachs 10,000 Small Businesses
Goldman Sachs 10,000 Small Businesses is an investment to help
entrepreneurs create jobs and economic opportunity by providing
greater access to education, capital and business support services.
To date, 10,000 Small Businesses has served over 7,600 small
businesses across the United States. The program has reached
businesses from all 50 states, Puerto Rico, and Washington, D.C.,
and has resulted in immediate and sustained business growth for the
alumni of the program.
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Patrick ScanlanGoldman Sachs Media Relations(212)
902-5400
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