How carriers can scale with Goldman Sachs’ 10,000 Small Businesses program

Designed to help passionate entrepreneurs take their enterprises to the next level, the fully funded, 12-week intensive business education program can be a resource for small-scale trucking companies to grow with confidence.

Moving beyond the bottleneck

Many small carrier fleets never actually hit a physical limit of trucks or drivers; instead, they hit an owner capacity bottleneck.

When a fleet runs on one person’s memory rather than structured systems, adding even one or two more trucks can break the entire operation. Dispatching, maintenance, compliance, billing and driver relationships cannot all live in the owner’s head indefinitely.

The Goldman Sachs curriculum –designed in partnership with Babson College– directly addresses this operational bottleneck. Through the Vision & Strategy and Operations & Technology modules, business owners learn how to replace themselves in day-to-day tactical roles and design repeatable processes.

By building solid administrative infrastructure, owners free up the cognitive capacity needed to lead a larger organization. 

Bridging the capital gap

Growth requires capital. Whether it is purchasing new equipment, hiring drivers or carrying receivables for 30 to 60 days, expansion severely drains cash reserves. 

To keep companies from running out of runway, the 10,000 Small Businesses program provides direct pathways to capital through its network of local and national lending partners.

Participants gain access to lenders who review applications on an ongoing basis. With an average loan size of $52,000, these partnerships help small business owners secure the financing necessary to fuel their customized growth plans. 

Program eligibility

The 10,000 Small Businesses program is 100% funded by the Goldman Sachs Foundation, meaning there is zero tuition cost for accepted participants. However, it requires a serious time commitment of approximately 10 hours per week of intensive instruction and networking over a 12-week period.

To qualify, a trucking company must meet the following baseline eligibility criteria:

1. Ownership: The applicant must be an owner or co-owner of the business.
2. Operational History: The business must have been operating for at least two years.
3. Revenue: The company must have generated $75,000 or more in revenue in one of the past two fiscal years.
4. Staffing: The business must have at least two employees, which can include the owner themselves.

Carriers can apply for either local, in-person cohorts at community colleges across 19 regional locations, or apply to the online-based National Cohort if they do not reside near a physical location.

Real results

Goldman Sachs’ education and capital network can help small carriers plan for growth without relying solely on market luck.

According to data published by Goldman Sachs, 66% of alumni report increased revenues six months after graduation, and 44% have created new jobs. By the 30-month mark, the revenue growth rate climbs to 74% and job creation reaches 53%.