Goldman Sachs: Small Businesses Are Leading on Sustainable Growth

  • Survey of 1,600+ companies on Goldman Sachs’ 10,000 Small Businesses (10KSB) programme finds 93% of respondents feel an obligation to “do good” in their community and over half (63%) have a stated set of social principles
  • 86% plan to implement new strategies and procedures to reduce the environmental footprint of their business
  • 83% are investing in training for employees to prepare for technological innovations in the next 10 years
  • Artificial Intelligence (AI), often associated with larger companies, is gradually being adopted by small businesses, but they are not cutting jobs as a result of it

 

LONDON--()--UK small businesses are embracing new technologies and committing to sustainable growth, a new survey by Goldman Sachs has found.

1,600+ Participants on the Goldman Sachs 10KSB programme, which provides training and support to high-growth entrepreneurs, were surveyed on the future of business ahead of an event this week that will convene over 400 small business owners from across the UK.

The study found that these entrepreneurs recognize the opportunities the next decade presents – a focus on sustainability and social impact, the changing dynamic of the workplace, and advances brought on by technology – and where possible, are already embracing them.

However, the results also show they need more support to adapt to the global challenges that we all face – the rapid advance of climate change and the uncertainty of geopolitical trends.

Richard Gnodde, CEO of Goldman Sachs International, said:

“Small businesses are responsible for the majority of all private sector turnover and employment in the UK. Not only are they critical to national prosperity, they are at the heart of our communities. They are dynamic and agile innovators, who most frequently see opportunity in uncertainty. Goldman Sachs 10,000 Small Businesses graduates are optimistic about the future, and collectively we need to continue to support their growth.”

Detailed survey results are available here.

About Goldman Sachs 10,000 Small Businesses

Goldman Sachs 10,000 Small Businesses UK is an investment to help entrepreneurs create jobs and economic opportunity by providing business and management training to high-growth small businesses in the UK. Founded in 2010, the program is fully funded by Goldman Sachs and the Goldman Sachs Foundation, is free for all participants, and to-date has reached over 1,600 participants in the UK

Contacts

Joseph Stein
+44 207 774 4080

Contacts

Joseph Stein
+44 207 774 4080