Goldman Sachs 10,000 Women: Proving the Case for Women Entrepreneurs

10,000 Women Initiative Results

• Partnership Launch: The Goldman Sachs "10,000 Women" initiative, in its sixth annual iteration, has achieved its initial target of supporting 10,000 women entrepreneurs.
• Revenue Growth: An independent assessment by Babson College found that nearly 70% of program graduates increased their business revenues within 18 months.
• Job Creation: 60% of the 10,000 women added new jobs to their businesses within the same 18-month period.
• Mentorship Impact: 90% of participants have committed to mentoring other women, creating a multiplier effect on community economic resilience.

Strategic Shift to Capital Access

• Risk Assessment: Goldman Sachs identified the "riskiest" scenario as inaction, concluding that business stability relies on vibrant economies fueled by women's economic empowerment.
• New Facility Creation: In partnership with the World Bank, Goldman Sachs and Lloyd Blankfein launched the Women's Entrepreneur Opportunity Facility (WEOF).
• Funding Scale: The WEOF is a $600 million facility dedicated exclusively to small and medium-sized enterprises (SMEs) owned by women.
• Target Reach: The facility aims to provide capital access to 100,000 women entrepreneurs globally.

Economic Data and Global Trends

• Unmet Demand: The World Bank's International Finance Corporation calculates a global credit gap for women entrepreneurs of approximately $285 billion.
• GDP Impact Projections: Goldman Sachs research suggests closing the credit gap could increase per capita income by up to 12% by 2030.
• Labor Participation Returns: OECD data projects that closing gender labor force participation gaps would raise GDP by:
  • 12% in the United States over 20 years.
  • Nearly 10% in Germany.
  • Over 11% in South Korea.
  • 19% in Japan.
  • 25–28% in Brazil.
• Entrepreneurship Statistics: In 2012, over 125 million women worldwide started or managed new ventures, with nearly 100 million running established businesses.
• U.S. Business Growth: Between 1997 and 2007, the number of women-owned businesses in the U.S. grew by 44%, reaching nearly 8 million.

Strategic Context and Future Outlook

• Institutional Recognition: The U.S. State Department established the Office of Global Women's Issues to permanently integrate women's issues into diplomatic core efforts.
• Informal Economy Gap: A significant portion of women's economic contribution occurs in informal sectors (e.g., agriculture, markets) which are currently unmeasured in standard economic accounts.
• Technological Disruption: The speech highlights the emergence of internet-based lending models as a critical solution to traditional banking exclusions in emerging markets.
• Investment Signal: The speakers framed the $600 million facility as a signal to the financial sector that serving the women's entrepreneurship market is a high-growth opportunity.