Goldman Sachs 2012 Annual Report Download - page 30

28 Goldman Sachs 2012 Annual Report
Corporate Engagement
A Strategic Approach
to Philanthropy
Goldman Sachs supports communities
worldwide through initiatives aimed at
addressing critical social and economic
issues. We apply our energies and
capabilities in ways we believe are most
likely to make a difference, through
programs based on innovation, research
and measurement. From year to year,
Goldman Sachs is identified as a leader
in corporate philanthropy in The Chronicle
of Philanthropy.
Since 2008, the firm has contributed in
excess of $1.6 billion to philanthropic
initiatives. Of these initiatives, two of the
most important are
10,000 Women and
10,000 Small Businesses, both designed
to drive growth and job creation in
underserved communities by offering
small and medium-sized enterprises
business and management education,
as well as links to capital, mentors and
networks. Launched in 2008, 10,000
Women is a five-year, $100 million global
initiative helping to grow local economies
by advancing the businesses of 10,000
women entrepreneurs.
10,000 Small
Businesses, a $500 million program, is
designed to unlock the growth and job
creation potential of small businesses in the
U.S. and U.K. Both programs are supported
by the Goldman Sachs Foundation.
In 2010, 10,000 Small Businesses U.K. was launched to help drive
local job creation and economic growth. Now up and running in London,
the Midlands, Yorkshire and the Humber and North West England, the
program offers training and support to ambitious small businesses and
social enterprises, based on experts’ views that this kind of support
helps small firms overcome barriers to success.
10,000 Small Businesses is run through partnerships with leading
universities and business schools. In the U.K., Goldman Sachs and
the Goldman Sachs Foundation have partnered with University College
London and the business schools of Oxford-Saïd, Leeds, Aston and
Manchester Metropolitan universities.
By year end 2012, the program had reached approximately 400 leaders
of high-growth small firms and social enterprises across the country.
Preliminary research reveals that 70 percent of our participants are
creating net new jobs (versus a U.K. average of 15 percent for small
businesses), and on average they are growing revenue by over
20 percent per annum.
10,000 Small Businesses
in the U.K.