Wednesday, November 18

Goldman Sachs "10,000 Small Businesses"


As follow up to my post yesterday about gaining consumer trust, I'd like to highlight an incredible program just announced by Goldman Sachs. Some are saying "Finally" while others are saying "PR Stunt". I'm just saying "Great Idea"!

Called "10,000 Small Businesses", Goldman Sachs, along with its biggest shareholder Warren Buffet, is pledging $500million to help small businesses recover from the recession. Right here in the states. The program breaks down as follows:
- $200million for small business owners to get management education at local colleges (very cool)
- $300million in loans and grants (as you'd expect)
- mentoring and networking services from Goldman Sachs staff (talk about sharing the wealth)

You can read about it in this article from The New York Times: http://www.nytimes.com/2009/11/18/business/18goldman.html?_r=1&partner=rss&emc=rss

Now it is certainly true that Goldman Sachs has a consumer trust issue on its hands. And whether or not that was the motivator really doesn't matter in the end. Many say that it's entrepreneurs and small business owners who will save the economy.

So whomever is willing to step out and help these folks (us folks), right here in our own cities and towns, then I say "GREAT IDEA"!

What's your experience? Jim

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