Goldman Sachs launched the Missouri cohort of their 10,000 Small Businesses Program in Missouri today as a part of their 100 million dollar investment for rural small businesses.
The launch took place at the State Fair Community College in Sedalia earlier today and included an abundance of speakers. Speakers included the Executive Vice President of Goldman Sachs John F. W. Rogers, Congressman Blaine Luetkemeyer, President of the Goldman Sachs Foundation Asahi Pompey, Missouri State Auditor Scott Fitzpatrick and President of State Fair Community College Dr. Brent Bates.
Luetkemeyer, who is the vice chair of the House Committee on Small Business, has been an advocate for small businesses in Missouri during his time in Congress. Last August he voiced support for Congressman Mark Alford’s SBA Rural Performance Report Act, which aimed to create more transparency between the Small Business Administration and small business owners.
The program seeks to educate small business owners on how to improve and expand their business by partnering with local community colleges. For this program, Goldman Sachs is partnering with State Fair Community College in Sedalia. Aside from the education program itself, Goldman Sachs will also be using community development financial institutions to help rural small businesses get access to capital.
While the program has already reached thousands of small businesses across the nation, Goldman Sachs has recently begun to focus on small businesses in rural areas. Last fall, they announced that they would be investing 100 million dollars to bring the 10,000 Small Businesses Program to rural states.
Programs in North Dakota and Arkansas were launched last September. Now Missouri and South Dakota have joined.
“Across the state, our small business community is made up of resilient and motivated Missourians,” said Missouri State Auditor Scott Fitzpatrick. “With 10,000 Small Businesses providing education and access to a network of growth-minded entrepreneurs, the future of Main Street looks even brighter for our state.”
According to the United States Small Business Administration, Missouri has over 500,000 small businesses that employ almost half of the state’s workforce. According to a study done by the Missouri Economic and Research Information Center (MERIC), Firms employing 1 to 49 workers made up 96.4% of all businesses in Missouri.
Kelton is a 2023 graduate of the University of Missouri with a Bachelor of Arts in Political Science and a Bachelor of Arts in Religious Studies. He is a native of mid-Missouri and likes to write politics at both the state and federal levels. Kelton joined the Missouri Times in April 2022
