San Angelo, TX, May. 26, 2016 – Terrill Manufacturing Company’s CEO Gary Rushin recently participated in, and graduated from the Goldman Sachs 10,000 Small Businesses program at Babson College. Mr. Rushin was focused on developing skills that he could apply immediately to address the issues most critical to growing Terrill Manufacturing. The 10,000 Small Businesses is a public-private partnership to unlock the growth and job-creation potential of small businesses. The program is led by co-chairs Lloyd Blankfein, Goldman Sachs chairman and CEO, Michael R. Bloomberg, Bloomberg L.P. founder, president and CEO and 108th Mayor of the City of New York, Warren Buffett, Berkshire Hathaway chairman and CEO and Harvard Business School and the Initiative for a Competitive Inner City’s Dr. Michael Porter. The program provides entrepreneurs with a practical business and management education, business support services and access to capital.
With 31 sites across the United States and the United Kingdom, Goldman Sachs’ 10,000 Small Businesses program has served over 6,100 small business owners. The program has reached business owners from all 50 states, Puerto Rico, and Washington, D.C.
Goldman Sachs’ 10,000 Small Businesses participants consistently increase revenues and create jobs over a longer period of time. Six months after completing the program, it is reported that 47.9% of participants reported adding new jobs. This number increased to 55.7% at 18 months and to 60.9% at 30 months after the program. This job growth represents a significant improvement when compared with the broader economy, as 23% of United States small businesses surveyed by the National Small Business Association for its 2015 Year-End Economic Report reported increasing their number of employees.
Revenues of the participating businesses also grew steadily after program completion, with 68.7%, 73.9% and 81.9% of participants reporting increased revenues six months, 18 months and 30 months, respectively, after program completion. To again provide context for how this compares to the broader economy, 45.0% of United States small businesses surveyed by the National Small Business Association for its 2015 Year-End Economic Report reported increasing their revenues.
Terrill Manufacturing Co. is an architectural woodwork and custom commercial casework manufacturer located in San Angelo, Texas. Founded in 1946, Terrill Manufacturing Co. works with k-12 educational schools, healthcare firms, banks, churches, higher education institutions, restaurants, the lodging and resort industry, and the government. The Company is a member of the Architectural Woodwork Institute and the Southwest Minority Supplier Development Council.
If you would like to know more about the Goldman Sachs 10,000 small businesses, please visit the program website for details.