Goldman Sachs to host largest small business owners summit

Core Insights - Goldman Sachs is hosting the largest gathering of small business owners in Washington, D.C., on October 29-30, as part of its initiative to support small business growth [1][2][7] Event Details - The Goldman Sachs 10,000 Small Businesses Summit will feature educational programming and networking opportunities, allowing thousands of entrepreneurs to connect with business leaders and advocate for small business priorities [2] - Keynote speakers include influential figures such as Goldman Sachs CEO David Solomon, Kelly Loeffler from the Small Business Administration, and other notable business leaders [3][4] Objectives of the Summit - The summit aims to help business owners access capital, enhance workforce competitiveness, and adopt artificial intelligence effectively [4] - Educational sessions will focus on practical strategies for implementing AI, securing capital, planning for exits, and retaining employees [4] Participation and Impact - Over 2,300 small business owners are expected to attend, marking the largest gathering to date for the Goldman Sachs 10,000 Small Businesses program, which has been operational for 15 years [6][7] - The program has invested $750 million since its inception in 2010, supporting over 17,000 businesses that employ more than 245,000 people and generate over $17 billion in annual revenue [8][9] Alumni Success - Within six months of completing the program, 66% of alumni report revenue growth, 44% add new employees, and 85% collaborate with one another [9][10] Rural Business Support - In 2023, Goldman Sachs announced a $100 million investment to expand its programs in rural states over five years, addressing the needs of rural small businesses [12] - A survey indicated that 86% of rural small businesses plan to grow, but only 7% feel they have adequate private sector resources [12] Economic Significance - Small businesses account for nearly 46% of private sector employment in the U.S., creating approximately 9 out of every 10 net new jobs from March 2023 to March 2024 [16][17]