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9 Inspiring Women On How Small Businesses Can Succeed

Small business is the lifeblood of economic development, providing employment and contributing to ourcommunities — and enabling their success is more important today than ever before.
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This post is by Goldman Sachs as part of their sponsorship of The Huffington Post's What Is Working: Small Businesses

Enabling the success of entrepreneurs is more important today than ever before. For small business owners, access to mentors, education and capital can make or break a business. And providing them with the means — and the network — to grow and develop their businesses can have a huge impact on the global economy. That's why, at this year's Davos World Economic Forum, Goldman Sachs and the Huffington Post joined forces to shine a light on what is working for small business owners in today’s business environment.

Supporting entrepreneurship has long been a focus of Goldman Sachs, as such we have made a commitment to small business owners — domestically and abroad — through two key philanthropic initiatives:

1. 10,000 Women is a five-year, $100 million global initiative to help grow local economies by providing 10,000 underserved female small business owners with a business management education, access to mentors and networks, and links to capital.

2. 10,000 Small Businesses is a $500 million investment to help small businesses create jobs and drive economic growth by providing a practical business education, the opportunity to access capital, and business support services. The program is now active in eleven markets across the country.

In the slideshow below, we share the personal visions and success stories of small business owners and thought leaders. See how these women are achieving their goals and empowering their communities, then head over to 10,000 Small Businesses and 10,000 Women to learn more about the Goldman Sachs initiatives that are empowering small business owners around the globe.

Investing In Small Businesses and Women
Carmen Maldonado(01 of09)
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10,000 Small Businesses Graduate Owner of La Criolla – a family-owned spice business established in 1957Chicago, IL"The Goldman Sachs 10,000 Small Businesses program opened my eyes to where I wanted to take the business. One of the modules in the program that really stuck with me was "You are the Leader" because, as the leader, you set the pace for your organization. I had to become more focused on what I wanted to do and actually communicate that to my employees."
Saudia Davis(02 of09)
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10,000 Small Businesses GraduateFounder of GreenHouse Eco Cleaning – a home and office green cleaning company established in 2006Brooklyn, NY“90% of our employees are women, and many are from low-income communities. After graduating from 10,000 Small Businesses, we partnered with LaGuardia Community College to offer to our staff financial literacy classes. Some of our staff members are in shelters when they begin working with us, and we help them find resources to get them back on their feet.”
Georgette Powell(03 of09)
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10,000 Small Businesses Graduate Owner of Mel’s Fish Shack – a 28-year-old restaurant, which she took over from her father in 2001Los Angeles, CA “One thing that this program has given me is a lot of inspiration. The first day after our orientation, I was in tears because I finally felt like I was in a room with other small business owners who cared, who knew what they were doing and who were serious about it. Running this business is not just about the bottom line. It makes a difference in people’s lives.”
Angelica Rivera(04 of09)
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10,000 Small Businesses Graduate Co-owner of Colmex Construction –a family-owned contractor for residential and commercial construction and renovationNew Orleans, LA “I think my challenge was even bigger not only as a woman, but a woman in the construction business. Since I'm the one doing all the negotiations and contracts, at the beginning it was really hard for other contractors and developers to take me seriously. With the 10,000 Small Businesses program I was able to identify the market that we were going to focus on, and study what they were looking for and offer them that product.”
Tory Burch (05 of09)
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CEO and DesignerNew York, NY"Women entrepreneurs face tremendous challenges. One thing I find amazing aboutwomen entrepreneurs is that they help each other, and they reinvest in their communities. The Tory Burch Foundation is about women’s empowerment by investing in women through mentorship and loans. The women entrepreneurs I meet are ambitious, and that’s a word I encourage women to embrace. I think ambition sometimes has a negative connotation, but being an ambitious woman is a great thing.”
Melanne Verveer (06 of09)
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United States Ambassador-at-Large for Women’s Issues“Fundamentally, the empowerment of women and girls is not just the right thing to do, but a smart and effective measure to grow economies and strengthen families and communities. As Ambassador-at-Large for Global Women’s issues, I have seen that gender inclusion is a key element to economic growth, and that if you want to grow economies around the world you must empower women entrepreneurs.”
Rasha Lotfy(07 of09)
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10,000 Women Graduate Founder of Afnan Center – supplies local women with raw materials for the creation of authentic Egyptian artCairo, Egypt“In the Goldman Sachs 10,000 Women initiative, I was able to create a professional business plan that focused on my labor force. I centralized my workshops so everyone works together and I can train the next generation of artisans. I am so proud that the success of Afnan goes hand-in-hand with the prosperity of my own workers. Having my own business reinforced my faith in the role of women in society and the economy.”
Kabeh Sumbo(08 of09)
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10,000 Women Graduate Owner of Passama Agriculture Trading Company – provides locally processed palm oil, palm kernel oil and coconut oil Monrovia, Liberia “My mother used to have me hold out my open palm to try to catch the breeze. It never worked. Of course there will be nothing there, because you have nothing if you keep your hand open all the time. You have to use your hands to work, to make yourself better. 10,000 Women has helped me put my hands to work and formulate my mission, vision, objective and goals for myself.”
Arianna Huffington (09 of09)
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Chair, President, and Editor-in-Chief of the Huffington Post Media Group New York, NY“You know someone said that a vision without implementation is hallucination, and entrepreneurs are implementing their vision, and that makes all the difference. My advice has to do with resilience, with perseverance, with getting up one more time than we fall down, because we’ve all failed and fallen, and I think that’s the difference ultimately between success and failure.”