Business education programme launched for entrepreneurs

Goldman Sachs is funding a pilot business education programme for 25 entrepreneurs from across the region.

Goldman Sachs selected Yorkshire and the Humber for its first philanthropic venture outside the South East because of its strong history of entrepreneurial success.

Speaking after a dinner at the Shine social enterprise centre in Harehills, Leeds, to launch the project, Tom Riordan, the chief executive of Leeds City Council, hailed it as a "great initiative for small businesses and social enterprises to be involved in".

He added: "After meeting with Goldman Sachs I was convinced this was something we should support and I am sure that the expert advice, tuition and support that will be available to the entrepreneurs will help them and the wider small business community go from strength to strength in the city."

Under the programme, the entrepreneurs will go on a four-month business and management course which will have an emphasis on real-life practical experience.

The course will be delivered by experts from Leeds University Business School and Sad Business School at Oxford University, who helped to devise the programme.

Most of the courses will take place at Shine, the social enterprise centre founded by American entrepreneur Todd Hannula. Social enterprise Leeds Ahead helped the bank with introductions, marketing and processing applications.

The chosen entrepreneurs are aged from their mid-20s to early-50s and represent a range of sectors including retail and manufacturing. Around half are from Leeds, while others are from Selby, Bradford and Doncaster.

Michelle Pinggera, Goldman Sachs chief of staff for Europe, Middle East and Africa, said yesterday: "We were overwhelmed by the positive reaction from the local community and the incredible support we have received throughout from our partners. The calibre and mix of the 25 entrepreneurs on the programme gives us confidence that this pilot will be a success and have meaningful impact in the region."

Dina Powell, the global head of Goldman Sachs's office of corporate engagement and president of the Goldman Sachs Foundation, added: "Goldman Sachs has been fortunate to work with nearly 100 of the top academic and non-profit partners around the world to promote small business growth through our 10,000 Women and 10,000 Small Business programmes.

"Our partners here in Yorkshire, including Leeds Ahead, Oxford Said Business School and Leeds University Business School are truly world class."

Elizabeth Paris, associate fellow, of the Said Business School, at the University of Oxford, said she was delighted to be collaborating on the design and delivery of the programme.

She added: "Insightful and focused support for companies at the mid-growth stage is critical, and a key feature in this programme is how it will be individually tailored to target the needs of each entrepreneur."

Mr Hannula, the chief executive of Camberwell, said: "It was an incredible signal of confidence in The Shine Centre that Goldman Sachs decided not only to launch their pilot at a dinner hosted here, but also that they have committed to about 80 per cent of the classes for this first cohort being held here."

Community teamwork pays dividends

As part of its work to gain a greater understanding of social enterprises, Goldman Sachs has worked with a London-based organisation called City Gateway.

Goldman Sachs has been a "community teamworks" partner of City Gateway, which provides training and events for young people and women in the borough of Tower Hamlets, for five years.

A Goldman Sachs spokesman said: "We have run our community teamworks programme in the UK for the past 14 years."

Goldman Sachs hopes the success of the pilot in Yorkshire could lead to similar schemes nationwide. Lord Graham Kirkham, one of Yorkshire's most successful entrepreneurs, has described Goldman Sachs' support as heaven sent. Norman Pickavance, the group human resources director for Bradford-based supermarket chain Morrisons, said: "We think Goldman Sachs has taken a very smart approach to launching and planning their programme in Leeds."

He highlighted how Goldman Sachs had engaged Create, a Leeds-based social enterprise which gives homeless people the chance to find work, to host a dinner in Leeds for its partners. Morrisons is hiring up to 10 per cent of the staff for its new store in Harehills, Leeds, from Create's pre-employment academy.