Goldman Sachs 10,000 Small Businesses Launches First Utah Statewide Cohort

Goldman Sachs Welcomes 40 Utah Entrepreneurs to Small Business Education Program

New Report Shows Impact of 10,000 Small Businesses on Salt Lake Economy

SALT LAKE CITY, Utah, October 28, 2025 - Goldman Sachs 10,000 Small Businesses today welcomed 40 entrepreneurs from across Utah to its distinguished business education program, marking an expansion of its commitment to fostering small business growth and economic opportunity in the state. The launch is a key component of Goldman Sachs 10,000 Small Businesses' $100 million Investment in Rural Communities, designed to empower rural entrepreneurs in 20 states over five years. Utah is the 13th state to join this expansion effort since its inception in 2023. The expansion will enable more Utah small businesses to take part in the results-oriented business education program that will equip them with tools and access to capital that may help drive growth, create jobs and increase revenue.

Celebrating its 15^th year, 10,000 Small Businesses has served over 17,000 businesses across the country, including more than 1,000 in the Salt Lake metro area, by providing comprehensive business education and access to capital. 10,000 Small Businesses graduates in the Salt Lake metro area alone represent over $2 billion in revenue and employ over 24,000 people.

A new report released by the program underscores the impact their growth following the program has had on the local economy. According to new data, 18 months following graduation, growth from its 1,050+ Salt Lake metro area alumni has added over 6,500 estimated new jobs and an additional estimated $1 billion in economic output.

Throughout Goldman Sachs' 25 years in Utah, we have invested directly in the community through programs like 10,000 Small Businesses," said John Waldron, President and COO of Goldman Sachs. "We are proud to support these 40 new entrepreneurs as they build the skills and confidence to grow their businesses, create more jobs and strengthen their communities."

"10,000 Small Businesses is now reaching every corner of Utah - equipping entrepreneurs with the skills, network, and confidence to turn their ideas into action," said Asahi Pompey, global head of Corporate Engagement and Chair of the Urban Investment Group at Goldman Sachs. "After 13 years supporting Salt Lake City's small businesses, we're opening the door for even more Utah small businesses to access resources that can help them thrive and grow."

Throughout the 10,000 Small Businesses program, business owners can expect to go through a 12-week curriculum that includes practical lessons on critical skills for running a business that can be immediately implemented into their businesses. They will also walk out of the program with an actionable growth plan, specific to their business, as well as a network of like-minded entrepreneurs through the alumni community. According to the Impact Report:

• Nearly 90% of graduates grew their confidence in critical business skills from the program
• 8 in 10 alumni say the program improved their ability to confidently and quickly react to unexpected change or failure
• 95% of alumni note 10,000 Small Businesses helped them persist through economic challenges
• 84% of alumni collaborate

"The Goldman Sachs 10,000 Small Businesses program was truly transformative for Kaddas Enterprises, providing the education and network that propelled our growth and allowed us to expand globally," said Natalie Kaddas, President and CEO of Kaddas Enterprises and a graduate of the first Salt Lake City cohort. "This program is more than just education; it's a lifelong community of support and mentorship. It's incredibly exciting to welcome the first statewide Utah cohort and see this vital initiative reach even more entrepreneurs, especially in our rural communities."

About 10,000 Small Businesses
Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing a comprehensive business education program and access to capital and business support services. To date, 10,000 Small Businesses has served over 17,000 small businesses
across the United States. The program has reached businesses from all 50 states, Puerto Rico, and Washington, D.C. Learn more at www.gs.com/10ksb

About Goldman Sachs
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.