Goldman Sachs' 10,000 Small Businesses Program: A Catalyst for Economic Resilience and Market Stability

In an era where small businesses account for nearly half of U.S. economic output, their survival and growth are critical to long-term market stability. Goldman Sachs' 10,000 Small Businesses (10KSB) program has emerged as a pivotal force in this arena, blending education, capital access, and policy advocacy to foster resilience among small enterprises. With over 17,000 businesses supported since its 2010 launch, the program's impact extends beyond individual success stories, shaping broader economic dynamics.

A Data-Driven Approach to Growth

According to a 2025 survey of 10KSB participants, 69% of small business owners expressed optimism about their financial trajectory, with 46% planning to create new jobs—a stark contrast to the national average of small business survival rates, where only half endure beyond five yearsGoldman Sachs 10KSB and the Power of Cohort-Based Growth^[2]. The program's efficacy is further underscored by its alumni outcomes: 66% of graduates reported increased revenues within six months of completion, while 44% created new jobs during the same period10,000 Small Businesses - US | Goldman Sachs^[4]. These figures far outpace the U.S. Small Business Administration's benchmark, which notes that only 50% of small businesses survive five yearsGoldman Sachs 10KSB and the Power of Cohort-Based Growth^[2].

The program's success is rooted in its holistic approach. Beyond financial support, 10KSB offers a cohort-based model that emphasizes peer learning and accountability. As stated by a 2024 Impact Report, this structure has enabled alumni to access over $1 billion in capital since the program's inception, facilitated by structured peer networks and business advisingGoldman Sachs 10KSB and the Power of Cohort-Based Growth^[2]. For instance, Bernadette Capulong, CEO of BC Design Haus, credited the program with solidifying her leadership skills and business goals10,000 Small Businesses: ICIC Reports^[3], while Ariel Pedrosa scaled his enterprise from a local operation to a multi-office franchising model10,000 Small Businesses: ICIC Reports^[3].

Expanding Access and Advocacy

Goldman Sachs has also prioritized geographic inclusivity, allocating $100 million to expand the program into rural communities across 20 states, including Alabama and West VirginiaGoldman Sachs 10,000 Small Businesses to Host Largest Summit of Small Business Owners in the U.S.^[1]. This initiative addresses systemic gaps in capital access, particularly in regions where traditional lenders often overlook small enterprises. By 2025, the program will host its third 10KSB Summit in Washington, D.C., where entrepreneurs will advocate for policy reforms on workforce development and technology adoptionGoldman Sachs 10,000 Small Businesses to Host Largest Summit of Small Business Owners in the U.S.^[1]. To date, the advocacy arm, 10KSB Voices, has facilitated over 1,800 meetings with policymakers, amplifying small business prioritiesGoldman Sachs 10KSB and the Power of Cohort-Based Growth^[2].

Implications for Investors and the Economy

For investors, the program's track record highlights a compelling thesis: supporting small businesses is not just a social imperative but a strategic economic lever. The 10KSB model demonstrates that targeted education and capital access can mitigate systemic fragilities, such as uneven recovery post-recessions. As data from Goldman Sachs indicates, graduates of the program are 3.5 times more likely to expand their workforce compared to non-participants10,000 Small Businesses - US | Goldman Sachs^[4], directly contributing to job creation and regional economic resilience.

Conclusion

Goldman Sachs' 10,000 Small Businesses program exemplifies how private-sector initiatives can align with public economic goals. By addressing barriers to growth—whether through capital, education, or policy advocacy—it not only elevates individual entrepreneurs but also strengthens the broader market's ability to weather downturns. For investors, this underscores the value of backing ecosystems that prioritize long-term resilience over short-term gains.