Thursday, January 23, 2014

Goldman Sachs 10,000 Small Businesses accepting applications for Summer 2014 class

Program offers practical business training at no cost to participants

The Louisiana Restaurant Association (LRA) encourages eligible members to apply for the free Summer 2014 Goldman Sachs 10,000 Small Businesses at Delgado Community College. This practical business management education program is aimed at helping existing companies grow revenues and create jobs and is funded through a grant to Delgado through the Goldman Sachs Foundation.

LRA member Phil de Gruy, owner of Phil’s Grill, graduated from the program and has used the knowledge he gain to aid him in his expansion from one location to now three, the latest on Camp Street in the New Orleans Central Business District.

“It’s a really intense business program that teaches you, first and foremost, how to work 'on' your business, not work 'in' your business,” de Gruy said. “I learned how to maximize my restaurant’s position in the market, manage my finances for greater profitability and develop a more accountable and customer-focused staff.”

The best-in-class curriculum was developed in conjunction with Babson College, recognized internationally for its leadership in entrepreneurial business education and focused on offering small business owners a results-oriented program providing the education, skills and means to grow their businesses. If selected, business owners also receive access to a suite of business support services that will help them to develop and implement a business growth plan. Loans are available to qualifying small businesses that lack access to affordable capital or may not quality for traditional sources of credit.

“The Goldman Sachs 10,000 Small Businesses program is one that LRA members should seriously consider to help them develop a comprehensive growth plan,” said Stan Harris, LRA President/CEO. “The only cost for the program is the investment of time to attend classes and complete projects. The financial rewards of participating can be substantial.”

Small business owners who demonstrate a commitment to growing their businesses and have been in operation for at least two years, generate revenues in excess of $150,000, and employ at least four individuals (including the owner) are encouraged to apply.

The 16-session business management education program meets over three months at Delgado’s City Park campus. Summer classes begin in June and meet from 8:30 a.m. to 5:30 p.m. on Fridays and occasional Saturdays. Participants are also required to commit six to eight hours per week for out-of-class activities geared toward growing their businesses. 

Since launching the program in 2011, Delgado Community College has served more than 200 small business owners in the New Orleans/Gulf South region.

With education programs at community colleges in 11 cities and capital-only programs in six states nationwide, the program boasts more than 2,000 alumni and a 99 percent graduation rate. Approximately 63 percent of graduates report that they have increased revenues just six months after graduating and 47 percent have created new jobs in the same period. Over 75 percent of all graduates report doing business with one another.

Delgado Community College works with community-based partners and national business organizations to encourage small businesses to apply for the program and to provide business advice, technical assistance, and networking to program participants. Local partners include Hope Enterprise Corporation, Greater New Orleans Inc., The Idea Village, the Louisiana Small Business Development Center, the Urban League of Greater New Orleans, and the New Orleans Chamber of Commerce.

Participation is free to business owners who are accepted through a competitive application process. 

To download an application or learn more about the Goldman Sachs 10,000 Small Businesses program in New Orleans, visit, call 504-671-5555 or email

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