North Carolina Community College System Partners with Goldman Sachs to Support Rural Entrepreneurs

The North Carolina Community College System announced it is partnering with Goldman Sachs to launch the 10,000 Small Businesses initiative across the state. The effort is part of Goldman Sachs’ $100 million national Investment in Rural Communities, aimed at bolstering small business growth and economic development.

For more than 15 years, 10,000 Small Businesses has offered free business education, access to capital, and tailored support services to help entrepreneurs grow. In 2023, Goldman Sachs expanded the program into rural areas across 20 states, and North Carolina now joins the initiative’s latest expansion.

“This partnership with Goldman Sachs reflects our system’s deep commitment to supporting small businesses as the engines of North Carolina’s economy,” said John Loyack, Vice President for Economic Development at the North Carolina Community College System. “We’re proud to provide a platform that brings world-class resources to entrepreneurs—particularly those in rural and underserved communities—through our statewide network of colleges.”

The program will be implemented through the North Carolina Small Business Center Network, which provides training and resources for small business owners throughout the state. “The Small Business Center Network is uniquely positioned to connect entrepreneurs with the training and support they need,” said Anne Shaw, State Director of the North Carolina Small Business Center Network. “This collaboration with Goldman Sachs is a natural extension of the work we do every day in communities across the state, and it’s an exciting opportunity to strengthen the impact we have.”

Participants in the program will receive instruction on core business skills such as marketing, negotiation, and employee management, while developing a personalized growth plan. Graduates will also gain access to a national network of fellow small business owners and alumni.

“Small businesses are the backbone of North Carolina’s economy, driving growth and innovation throughout the state. We are thrilled to bring our education program to entrepreneurs across North Carolina,” said Anne Wellde, national director of Goldman Sachs 10,000 Small Businesses. “Together, we can equip small business owners with the tools they need to thrive and create jobs in their communities.”

According to Goldman Sachs, early outcomes for rural participants who completed the program show promising results:

• 68% reported increased revenue
• 60% created new jobs
• 85% feel more resilient
• 68% plan to use the 10,000 Small Businesses network to grow

Applications for the upcoming North Carolina cohort are open through June 15. The three-month program begins in September and will be delivered in a hybrid format. Participation is free and fully funded by the Goldman Sachs Foundation.