According to a study conducted, small businesses account for 99.9% of all the businesses in the USA. This is a reflection of how American society values the concept of staying independent. This adds up to a total of more thirty million enterprises, that together account for about half the nation’s employment. Leading investment bank, Goldman Sachs has reiterated this idea, through its 10,000 Small Business Programme. Using this programme, the bank plans to work towards a business collaboration with these smaller companies, rather than only chasing the giants of each sector, as is usually the trend. Even Goldman Sachs was once a small company, so it only makes sense to go back to the roots, to help others in a similar situation. Small business face a major challenge in scaling up during their second phase. That is where, a giant like Goldman Sachs will help them frame sound corporate strategy documents, that will be like a guiding stone, for the rest of the journey.

Source:https://hbr.org/podcast/2019/10/goldman-sachs-500-million-bet-on-small-businesses

Uploaded Date:2 November 2019