Prime Highlight
- A 15-year study shows graduates of Goldman Sachs 10,000 Small Businesses UK programme added around £2.7 billion in extra revenue and created about 41,000 new jobs.
- Alumni grew revenues by up to 43% more and hired 35% more staff than comparable businesses in the three years after completing the programme.
Key Facts
- Since 2010, the programme has trained small business leaders across the UK, generating an estimated £10.6 billion in annual revenue and supporting 82,000 jobs.
- Graduates improved productivity by 14% more than similar firms, with 85% enhancing products and 93% introducing new systems after the course.
Background
A 15-year impact study of the Goldman Sachs 10,000 Small Businesses (10KSB) UK programme has found that its graduates have added around £2.7 billion in extra revenue and created about 41,000 new jobs across the country.
The research, carried out by the Enterprise Research Centre, compared the performance of more than 2,500 alumni with similar businesses of the same size and growth stage. The study found that in the three years after completing the programme, graduates increased their revenues by up to 43% more than comparable firms and hired 35% more staff.
Since 2010, the programme has trained small business leaders from every region and sector of the UK. Together, these businesses now generate an estimated £10.6 billion in annual revenue and support about 82,000 jobs.
Charlotte Keenan, head of the 10 KSB UK programme, said access to quality business education and strong peer networks helps entrepreneurs grow faster and create more jobs. She said the past 15 years have shown the value of supporting ambitious business owners to solve the UK’s productivity challenge.
The report also looked at the background of participants. It found that 53% of alumni had close family members who ran small businesses, and nearly half of them worked in those businesses before starting their own.
Chancellor of the Exchequer Rachel Reeves welcomed the findings, saying small businesses drive innovation, job creation and growth. She praised the programme for supporting the next generation of entrepreneurs and highlighted recent Budget steps to lower business rates and improve funding access for small firms.
The 100-hour business education course, delivered by Saïd Business School at the University of Oxford, also boosts productivity. Graduates improved productivity by around 14% more than similar firms, while 85% said they enhanced their products and 93% introduced new systems after completing the programme.