Goldman Sachs selected Leo Acevedo, owner of Dynamic Wallcovering LLC in Poplar Bluff, to enter an elite education program called 10,000 Small Businesses.
Of 356 applicants in the state of Missouri, only 36 were chosen. Acevedo relayed he was the only small business in the Bootheel admitted after a lengthy application and interview process.
As part of Dynamic Wallcovering, he runs a federal contracting subdivision called Ozark Constructors. Acevedo was encouraged to apply by an acquaintance in the federal contracting world. Three weeks into the 12-week program, he attends class 24 hours per week.
“I have had to put some of my workload on my other managers,” Acevedo said.
According to a press release from Goldman Sachs, 10k SB expands the $100 million Investment in Rural Communities initiative.
The program, “focuses on empowering and supporting rural entrepreneurs through a comprehensive business education program and access to capital.”
Babson College wrote 10k SB’s curriculum on strategies for attracting more business, employees and growth. As stated in the press release, 86% of rural small businesses have crafted plans to grow, “but only 7% believe that they are receiving sufficient private sector resources to support growth.”
Acevedo shared 72% of 10k SB participants added jobs, 85% thought their business was more resilient, and 74% increased overall revenue.
Small businesses employ 1.1 million workers across the state and comprise 99.4% of Missouri’s businesses, according to Goldman Sachs.
Acevedo commented he already saw improvement in his own business after a few weeks of applying what he learned.
“The money and metrics portion makes our business more bankable,” he referenced pointers he received on how to be better suited for loans and capital.
Upon completion of the course, he will be added to an alumni group with access to advice and networking with other 10k SB graduates. 10k SB has assisted 14,500 businesses nationwide since its inception. Interested applicants can find more information at gs.com/10ksb.