Goldman Sachs launches SME growth programme

MORE than 20 North West businesses, identified as having high growth potential and able to create jobs, have been chosen to take part in an education programme run by global investment bank Goldman Sachs.

The Business Growth Programme, which is is being launched this evening at Manchester Town Hall, follows a successful pilot project in Yorkshire last year.

It will offer the selected businesses, which also includes several social enterprises, high-level training over a four-month period, followed by a mentoring programme.

Funded by the investment bank and its charitable foundation, high-level staff, at partner and managing director-level will work with the SMEs on the programme.

Officials from Goldman Sachs say the 13 seven-hour long sessions will  focus on practical issues such as business planning and access to finance.

Manchester Metropolitan University and Manchester Solutions have been working on the programme with Goldman Sachs to help them identify the right businesses to go into the programme.

The chosen businesses are all at least one year old, have a minimum of five staff. In the Yorkshire pilot – they came from a wide range of sectors, ranging from restaurants to manufacturers.

More than half of the Yorkshire companies added new jobs as a result of the scheme – and have seen other positive benefits such as better networking and many have begun to successfully trade with each other.

Goldman Sachs says the North West and Yorkshire were selected as the launch regions for the scheme proper due to their track record for innovation and entrepreneurship.

Senior officials including vice chairman Michael Sherwood, Michelle Pinggera, chief of staff for Europe, Middle East and Africa,  Dina Powell, President of the Goldman Sachs Foundation, and Jim O’Neill, Chairman of Goldman Sachs Asset Management are attending the launch this evening.