10,000 Small Businesses program exceeds 100 graduates

WARWICK – The Goldman Sachs 10,000 Small Businesses on Wednesday celebrated 47 new graduates from the 12-week professional development program.

The ceremony brought the total number of Rhode Island businesses to complete the small-business program to 103. The 10,000 Small Businesses initiative – which is replicated in other states – started under Gov. Gina M. Raimondo in 2016.

The curriculum, designed by Babson College, is supposed to help business owners of revenue-generating companies to grow and add jobs.

“Collectively, the [graduates] employ 1,255 Rhode Islanders and generate over $133 million in revenue,” according to the organization, which is headed by Karina H. Wood, executive director.

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The program is sponsored by the financial giant, Goldman Sachs, and is offered at no cost through the Community College of Rhode Island.

Nearly 70 percent of graduates report increasing revenue within six months of leaving the program, and nearly half reported creating new jobs, according to Wood.

The program is currently recruiting applicants for its 5th cohort, which is scheduled to start in January.