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Mary T. Barra Joins Goldman Sachs 10,000 Small Businesses Advisory Council

November 20, 2018

NEW YORK--(BUSINESS WIRE)--Nov 20, 2018--Goldman Sachs today announced that Mary T. Barra, General Motors Chairman and CEO, has joined Goldman Sachs Chairman Lloyd Blankfein, Michael Bloomberg, Warren Buffett and Dr. Michael Porter as a member of the Goldman Sachs  10,000 Small Businesses  Advisory Council. The Council provides strategic oversight to the Goldman Sachs  10,000 Small Businesses  program, which delivers practical business education and access to capital for small businesses.

Ms. Barra’s appointment was announced during the program’s signature Coaching Session, where Goldman and Bloomberg employees tackle business challenges with over 15 alums of the 10,000 Small Businesses program every year. Coaching sessions cover a number of operational challenges for small business owners, including human resources, finance, operations, marketing, strategy and IT.

“Mary is a proven leader who has demonstrated a unique combination of insight and execution throughout her incredible career,” said Lloyd Blankfein. “Goldman Sachs 10,000 Small Businesses is thrilled to be able to benefit from her contributions as the program continues to help entrepreneurs create jobs and economic opportunity in Detroit and across the country.”

“Since its launch, I’ve admired the model and work of  10,000 Small Businesses. No matter how big or small a company is, the business environment is very demanding. Collectively sharing the best of what we’ve learned will enable a more open, constructive dialogue. I’m looking forward to both contributing and learning in this new role,” said Mary Barra.

In addition to Ms. Barra’s leadership on the Advisory Council, General Motors will offer the expertise of its employees to current scholars and alums of the 10,000 Small Businesses Program through offerings on relevant topics; for example, recommended supply chain and procurement practices for small business owners working with larger corporations. This will kick-off with a 10,000 Small Businesses Detroit area alumni event in early 2019.

Goldman Sachs 10,000 Small Businesses launched in Southeast Michigan in 2013 and has committed $20 million to help the region’s small businesses by providing entrepreneurs with practical business education, access to capital, and business support services. To date, nearly 400 business owners have participated in the program. A sign of the region’s entrepreneurial drive and “can-do” spirit, Southeast Michigan alumni have seen significant growth in revenue and job creation, and are a catalyst for Detroit’s small business ecosystem.

Goldman Sachs 10,000 Small Businesses is informed by the broadly held view of leading experts that greater access to education, capital and support services best addresses barriers to growth for small businesses. In addition to Detroit, the program spans thirteen additional regional sites and a National cohort.

A 2018 report by Babson College found that just six months after graduating the program, 67 percent of participants reported increasing their revenues, 47 percent of participants reported creating net new jobs and 88 percent of participants have worked or are working together with other program participants. The program maintains a 98.5 percent graduation rate. To learn more about 10,000 Small Businesses, please visit: www.goldmansachs.com/citizenship/10000-small-businesses/US/

About Goldman Sachs 10,000 Small Businesses

Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital and business support services. To date, 10,000 Small Businesses has served over 7,600 small businesses across the United States. The program has reached businesses from all 50 states, Puerto Rico, and Washington, D.C., and has resulted in immediate and sustained business growth for the alumni of the program.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181120005389/en/

CONTACT: Patrick Scanlan

Goldman Sachs Media Relations

(212) 902-5400

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: EDUCATION UNIVERSITY SOCIAL MEDIA PROFESSIONAL SERVICES REIT BANKING CONSULTING FINANCE INSURANCE ENVIRONMENT COMMUNICATIONS PUBLIC RELATIONS/INVESTOR RELATIONS CONSTRUCTION & PROPERTY

SOURCE: Goldman Sachs

Copyright Business Wire 2018.

PUB: 11/20/2018 08:35 AM/DISC: 11/20/2018 08:35 AM

http://www.businesswire.com/news/home/20181120005389/en

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