Goldman Sachs and the Goldman Sachs Foundation launched the 10,000 Small Businesses initiative to help entrepreneurs create jobs and economic growth by providing them with greater access to business education, financial capital and business support services. In 2013, Goldman Sachs 10,000 Small Businesses committed $20 million to support the Detroit area’s small businesses.
Tune in to the Business Beat, below, to learn more about Jerome’s story and the Goldman Sachs 10,000 Small Businesses program:
“The 10,000 Small Business program provided an ecosystem of like-minded individuals who went through business courses necessary to scale or grow your business. We were able to identify gaps in our business, provided consulting support, and (were helped) to scale.”
– Jerome Brown, co-owner of Detroit Soul
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Good morning, Paul.
We’ve got a feel-good story about a Detroit entrepreneur who opened his soul food restaurant right here in Detroit in 2015. It’s known as Detroit Soul and it has enough loyal and loving customers to pack the place every weekend.
Detroit Soul is probably owned and operated by Jerome Brown, and now that things are opening up again, Jerome, once again is serving up some love. And one thing that has helped him as an entrepreneur, well, it’s being part of the Goldman Sachs 10,000 Small Businesses Detroit program, in which Goldman Sachs has pledged $20 million to support Detroit area small businesses.
Let’s hear from Jerome:
Hello, Jeff. Detroit Soul is a family owned restaurant in the city of Detroit. We provide jobs for those that live in the neighborhood, as well as are part of the community. We’re known for our macaroni and cheese, we use four different types of cheese, and on Saturday, we cook outside, barbecue. Oh my God, we sell out every Saturday.
During the pandemic, we closed our dining room, but we pivoted to 100% call-in and delivery services.
Now, Jerome, you’re a Goldman Sachs program alumnus, what did the program mean to you?
The 10,000 Small Business program provided an ecosystem of like-minded individuals who went through business courses necessary to scale or grow your business. We were able to identify gaps in our business, provided consulting support, and to help us to scale. I’ll tell you, without this program, I’m sure we would have paid an excess of $50,000 to receive the information that we received.
Jerome, it’s got to feel amazing to be open again and serving your great customers.
We’re a family style restaurant and we missed our customers. We’re glad to see them returning.
We’re thrilled for you, Jerome, and thank you to Goldman Sachs for your invaluable support of Detroit businesses like Jerome’s, Detroit Soul. I’ll see you there, Paul! Just know, I don’t share my mac and cheese. Check them out detroitsoul.net.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.