Investing in the Power of Women, Progress Report on the Goldman Sachs 10,000 Women Initiative
A new report by Babson College on the Goldman Sachs 10,000 Women initiative has found that training and education for women entrepreneurs positively affect emerging economies by increasing revenues and creating jobs, expanding women’s contributions to their communities, and informing their leadership styles.
Through mentoring, advising and hours of basic business skills training, the 10,000 Women graduates gained confidence, grew their businesses in sales and employees and are strengthening their communities by mentoring other women.
The findings in the Babson report, Investing in the Power of Women: Progress Report on the 10,000 Women Initiative, are based on an analysis of data that had been systematically gathered across cohorts and countries over the course of the initiative’s first four years. The analysis was conducted by a team of researchers from Babson College using data provided by the Goldman Sachs Foundation.
In 2008, the 10,000 Women initiative was launched by the Goldman Sachs Foundation to educate women entrepreneurs in emerging economies. The initiative was designed specifically to provide a business education, access to mentors and networks, and links to capital for 10,000 underserved women operating small businesses. By the close of 2013, the initiative had enrolled its 10,000th woman.
The findings of the report demonstrate that the 10,000 Women initiative makes a difference in how women entrepreneurs grow their businesses, how they develop personally and how they make a contribution to society. The key conclusions of the report are:
- Women can be exceptional entrepreneurs across a diverse array of country and cultural contexts
- 10,000 Women helps entrepreneurs grow their businesses and develop their business acumen
- Mentoring, advising, and networks are highly valued in the growth process
- Women entrepreneurs grow their businesses despite a lack of external financing