Goldman Sachs (NYSE:GS) just announced a new $10 million investment in Baltimore small businesses. The latest investment is a continuation of Goldman Sachs’ 10,000 Small Businesses program in Baltimore, an initiative aimed at creating jobs and economic growth in the area.
Goldman Sachs 10,000 Small Businesses Program
More specifically, the program consists of practical business classes, one-on-one advising and accounting workshops for small business owners in the area. During the last session, 59 local small business owners received more than 100 hours of training in subjects like accounting, human resources and marketing at Johns Hopkins University.
This time, Goldman Sachs is partnering with Bloomberg Philanthropies to continue the commitment to local businesses and economic growth in the area. This is the first ever co-investment of the 10,000 Small Businesses Program.
While the latest investment only applies to small business investments in the Baltimore area, the 10,000 Small Businesses program has operated in 14 different cities across the U.S., providing education to more than 6,300 small businesses. So businesses in other cities who would like to take advantage of this opportunity can keep an eye out for new investments in the future.
Goldman Sachs is not alone. More recently, JPMorgan Chase launched a similar program to help small businesses in various communities.
In order for businesses to qualify for the Goldman Sachs program, you must have annual revenues above $100,000, be in operation for at least two years, employ at least two full-time workers and have a desire to grow and create more jobs in the community. It’s free to take part in the program. Baltimore business owners who are interested in the upcoming session can apply online.