Cuyahoga Community College among pilot sites for Goldman Sachs workforce development program

Cuyahoga Community College is partnering with Goldman Sachs 10,000 Small Businesses Fellows program to help create internship opportunities for historically underrepresented students. (Cuyahoga Community College)

CLEVELAND, Ohio -- Cuyahoga Community College is among the pilot sites for a new Goldman Sachs program designed to help create internship opportunities for historically underrepresented students.

The 10,000 Small Businesses Fellows program will create more than 250 work opportunities for college students across the U.S. The program aims to create mutually beneficial situations for students and small businesses, which are working to address growing skill gaps across various industries, according to a news release.

The Goldman Sachs Foundation will fully fund the semester-long internships, the news release says.

Community colleges and universities in Baltimore, Dallas and New York City are also among the pilot sites for the program, which was announced on Monday to coincide with the start of National Small Business Week.

“Cleveland is a city full of talented individuals, entrepreneurs and students,” Cuyahoga Community College President Alex Johnson said in the news release. “Goldman Sachs 10,000 Small Businesses Fellows takes full advantage of this talent pool and maximizes it so that everyone benefits. Connecting underserved college students with businesses in need of talent is a win-win, and I’m proud that the program has developed its roots right here in Cuyahoga County.”

Small businesses employ nearly half of the U.S. workforce, but employers have struggled to hire for essential roles, such as sales and marketing, the news release says.

A recent Goldman Sachs 10,000 Small Businesses survey found that more than 75% of small business owners said sales and marketing roles were very important for recovery and growth. However, nearly 50% of small businesses reported those roles were the most difficult to fill, as too few job applicants had the right skills.

The new program is designed to address that issue, Goldman Sachs’ President and COO John Waldron said in the news release.

“We heard from our 10,000 Small Businesses alumni the growing need to find talent so they can continue on the road to recovery,” Waldron said. “This important initiative will do just that by creating real, tangible work opportunities to address the growing skills gap – a win-win for our vital small businesses and promising community college students.

The program is an arm of Goldman Sachs 10,000 Small Businesses, which has invested $750 million to help small businesses create jobs and develop economic growth through education, support services and access to capital, the news release says.

As part of the program, students will have access to 10,000 Small Businesses alumni, professionals and Goldman Sachs experts.

“The right internship can have a big impact on a student’s career path,” Asahi Pompey, Global Head of Corporate Engagement and President of the Goldman Sachs Foundation, said in the news release. “10,000 Small Businesses Fellows gives students a front row seat to entrepreneurship by coming into a small business and learning from some of our most successful alumni. They will learn the business, but they will also witness the passion.”

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