ROYAL OAK, Mich. – Sterling Oil and Chemical was selected as one of 35 businesses to take part in Goldman Sachs 10,000 Small Businesses program Cohort 4. The program, located at Wayne State University gives local small businesses the opportunity to improve their businesses and assist the companies in growing their business.
“Participating in the 10KGSB Goldman Sachs class was a wonderful opportunity to increase my skill set and knowledge base to use to take our companies to the next level of growth,” Jason Eddleston, Vice President of Operations at Sterling Oil and Chemical explained.
10,000 Small Businesses is a program that is funded by Goldman Sachs and the Goldman Sachs Foundation. The program invests $500 million dollars in local communities around the United States and the United Kingdom. Along with Detroit, the program is being offered in Chicago, Cleveland, Houston, Long Beach, Los Angeles, Miami, New Orleans, New York, Philadelphia, and Salt Lake City.
Entrepreneurs who qualify for the program are put through an 11-session business course created by Babson College that will provide them with the resources that can assist them in creating jobs and growing their business.
“Learning with Goldman Sachs presents opportunities for growth both with Goldman Sachs as well as with the other alumni connections through class,” Eddleston said. “Completing the class also allows us access to Goldman Sachs and other financing sources for future expansion. Finally, being part of the alumni network for 10KGSB Class will allow me future opportunities to expand my skill set and network with other similar minded business owners.”
Along with the 11-session course, the small businesses have one-on-one advising sessions that are aimed at creating a customized business plan. The entrepreneurs are also afforded the opportunity to learn and network with other small business owners.
“Networking with 34 other business owners from a variety of different backgrounds and industries was the largest take away,” said Eddleston. “Meeting these owners and listening to their issues and concerns and how they have overcome adversity gave me great insight. I realized that other owners in all industries face similar problems by the nature of being a business owner in this region. I am grateful to have a broader support group of individuals to rely on to navigate future inevitable issues we face at our respective companies.”
As part of the program, Jason was tasked with creating a business plan and used this opportunity to work on his two expansion plans at Sterling Services in Hamtramck, Mich.
On August 6th, 2015, Eddleston and 60 other small businesses graduated from the 10,000 Small Business program at a celebration on the campus of Wayne State University in Detroit, Mich.