SMEs encouraged to apply for Goldman Sachs initiative

SMEs are being encouraged to apply for an initiative launched by global investment banking company Goldman Sachs.

The “10,000 Small Businesses” UK initiative was first launched in 2010 to help provide support for small companies.

Programme

The initiative consists of a ten-week programme, during which businesses can receive peer-to-peer support, mentoring, and advice from business experts.. The course also provides workshops on subjects such as marketing and leadership.

Participants will work on a growth plan and develop skills through a mixture of online learning and residential modules to improve productivity and increase their chances of creating more jobs.

So far, 900 people have graduated from the programme. According to a study in 2014, those who participated in the initiative were found to be growing a turnover of between 23 per cent and 42 per cent per year.

Benefits

Discussing the benefits of the scheme, Oxford Saïd Entrepreneurship Centre Director Megan Morys-Carter said: “The opportunity to meet and swap ideas with other small business leaders from different industry sectors and locations has been a big part of the effectiveness of the programme.”

She added that “using online collaborative tools as well as residential sessions is a way of enriching those interactions and developing new insights from working in different ways.”