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Local Participation in First Iowa-based Class of Goldman Sachs 10,000 Small Businesses

Thirty-seven Iowa small business owners from 20 counties participating in nationally-recognized program in partnership with Iowa’s community colleges

February 15, 2019
Emmetsburg News

ANKENY Kelly Bay from Emmetsburg, Barry Bonner from Graettinger, and Erika Jensen from Algona are among 37 Iowa small business owners participating in the first Iowa based class of Goldman Sachs 10,000 Small Businesses.

Des Moines Area Community College (DMACC), along with Iowa's 14 other community colleges, announced the scholars selected for the inaugural Iowa class of Goldman Sachs 10,000 Small Businesses.

The 37 scholars hail from 20 Iowa counties, ranging from Iowa's largest city to towns with a population of under 1,000. They represent a diverse range of business and industry including restaurants, architecture, professional services and healthcare.

Kelly Bay is the owner/operator of Five Island Spa, Emmetsburg

Barry Bonner, owner of Birdies, Burgers and Brews, Hillcrest Golf Course, from Graettinger

Erika Jensen is owner/operator of The Chocolate Season, Algona

The announcement of the inaugural class follows a reception at DMACC's Ankeny campus on Wednesday, Feb. 6. The reception was attended by a bipartisan delegation of state and local elected officials, business and community leaders and family members of the accepted scholars.

"Goldman Sachs 10,000 Small Businesses is offered for free as a philanthropic investment to help small business entrepreneurs create growth, jobs and economic opportunity across the country or in this case, across Iowa from the Missouri River to the Mississippi River," said Katherine Jollon Colsher, National Director of Goldman Sachs 10,000 Small Businesses. "We appreciate the work of our Iowa partners who helped in recruiting scholars and facilitating program delivery, and we look forward to welcoming more Iowans to the strong network of Goldman Sachs 10,000 Small Businesses alumni."

Goldman Sachs 10,000 Small Businesses has over 7,900 graduates from all fifty states, including Iowa, and is offered at no cost to those accepted. For the first time, Goldman Sachs 10,000 Small Businesses is being offered in Iowa, exclusively to Iowa small businesses. It is hosted at DMACC, delivered in partnership with Iowa's community college. The curriculum was developed in partnership with Babson College, which was recently named the top college in America for entrepreneurship for the 22nd year in a row by US News and World Report.

"Des Moines Area Community College and Iowa's entire community college system is proud to partner with Goldman Sachs 10,000 Small Businesses to offer Iowans access to this free, exceptional curriculum developed by Babson College" said DMACC President Dr. Rob Denson. "Small business is the backbone of Iowa's economy. In seeing the high level of interest from applicants and the high-caliber of scholars selected, it's clear that Iowa was the right choice for this statewide offering of Goldman Sachs 10,000 Small Businesses."

The class will last for three months, with scholars taking a blend of in-classroom and online learning. The classes cover everything from identifying growth opportunities, refining operations processes, marketing and selling, understanding and using financial statements and leadership training.

Lecia Berven, from Iowa Lakes Community College is one of the instuctors

Business owners who have taken the program sometimes call it a real-world MBA where small business owners focus on growing their business, using their own business as a case study.

Since the inception of Goldman Sachs 10,000 Small Businesses, the national program has been a tremendous success. Sixty-seven percent of alumni report increased revenues six months after graduating, 47 percent report hiring employees during the same time period, and nearly 88 percent of graduates do business with one another.

Those eligible for the program have been in business for at least two years, have at least $100,000 in revenue, and have at least two employees, including the business owner.



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