SALT LAKE CITY – Goldman Sachs recently celebrated the 1,000th graduate from its small business education program, 10,000 Small Businesses, at an event with Governor Spencer Cox. Goldman Sachs 10,000 Small Businesses also announced it is opening applications across Utah as part of its $100 million Investment in Rural Communities. The initiative, which first launched in 2023, equips rural entrepreneurs with results-oriented training to help grow their businesses, expands access to capital and to personalized support services. Rural businesses face unique challenges, and the initiative looks to help business owners overcome these.

Both announcements come as Goldman Sachs celebrates 25 years in Salt Lake City. 10,000 Small Businesses began in Salt Lake City in 2012 with a $15 million commitment. Nearly 30 entrepreneurs in this cohort represent the 35th cohort graduating from the program through its educational partner, Salt Lake Community College. Over 1,000 graduates of 10,000 Small Businesses in Salt Lake City represent over $2 billion in revenue and over 24,000 employees, underscoring the firm’s commitment to economic growth and job creation in the region.

“For over a decade, Goldman Sachs has championed small businesses across Salt Lake City,” said Asahi Pompey, global head of Corporate Engagement and chair of the Urban Investment Group at Goldman Sachs. “These 1,000 graduates represent a community of incredible small business owners who are working every day to grow their business, create jobs, and invest in Salt Lake City. That’s why we are doubling down on Utah by expanding our Investment in Rural Communities to reach small businesses across the state so that even more Utahns can grow and thrive.”

Asahi Pompey, global head of Corporate Engagement at Goldman Sachs, addressed graduates of the 10,000 Small Businesses in Salt Lake City on Thursday, announcing the extension of the program to rural Utah communities. (Photo courtesy of Goldman Sachs)

“Goldman Sachs has been a key pillar in the Salt Lake community for 25 years, and10,000 Small Businesses has helped to equip entrepreneurs in the city with the tools they need to increase revenue, drive innovation and employ thousands of Utahns,” said Governor Spencer Cox. “By bringing this investment and program to our rural small businesses, we are building a stronger, more resilient Utah for generations to come, building upon the foundation laid in Salt Lake City with our 1,000 graduates.”

Goldman Sachs’ $100 million Investment in Rural Communities provides comprehensive support to rural small businesses owners. The investment includes $75 million to Community Development Financial Institutions (CDFIs) to provide loans to small businesses, $15 million in funding for the business education programs at local community colleges and $10 million in access to capital capacity-building grants. As part of the rural expansion, the Utah cohort will start in October 2025 and represents the initiative’s 11th state to date, on track to meet its goal of reaching 20 states in five years.

“Graduating from 10,000 Small Businesses over a decade ago catapulted my business to new heights, and in the years since, having a growing community of like-minded entrepreneurs to support me and collaborate with in Salt Lake City and across the country has been a game changer,” said Natalie Kaddas, CEO of Kaddas Enterprises and graduate of the first cohort of10,000 Small Businesses in Salt Lake City. “This program empowers entrepreneurs to take their business to the next level, so I am incredibly excited to see it expand its reach to even more small businesses across Utah. I strongly encourage Utah small businesses to apply and experience the same transformative education and support that I have."

This year, Goldman Sachs 10,000 Small Businesses celebrates its 15th anniversary. The program has supported over 16,000 small businesses, representing over $27 billion in revenue and 307,000 employees nationwide. According to the program’s 2024 Impact Report, six months after graduating, 66% of alumni reported increased revenue and 44% created jobs in their community. Additionally, nearly 90% said they grew confidence in critical business owner skills and 99% were likely to recommend the program to a friend or family member.

Throughout the 10,000 Small Businesses program, business owners can expect to go through a 12-week curriculum that includes practical lessons on critical skills for running a business—from financial statements to leadership and negotiation—that can be immediately implemented into their businesses. Not only that, but they can also walk out of the program with an actionable growth plan, specific to their business, as well as a network of likeminded entrepreneurs through the alumni community. Small business owners across Utah can apply today through July 16th here.


About 10,000 Small Businesses 

Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing a comprehensive business education program and access to capital and business support services. To date, 10,000 Small Businesses has served over 16,000 small businesses across the United States. The program has reached businesses from all 50 states, Puerto Rico, and Washington, D.C. Learn more at www.gs.com/10ksb.