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| Small and Diverse Business Spending | Not Reported |
|---|---|
| Minority-owned | Not Reported |
| Woman-owned | Not Reported |
| Veteran-owned | Not Reported |
| LGBT+ -owned | Not Reported |
| Disabled Person-owned | Not Reported |
Goldman plans on increasing spending with diverse vendors by 50 percent from 2020 to 2025.
$1.76 billion committed in capital for 10,000 Women lending facility for women owned businesses.
The $1 billion Launch with GS targets diverse founding teams.
One Million Black Women, is a $10 billion commitment to creating economic opportunity for black women
To build a sustainable supply chain, Goldman Sachs launched a Vendor Diversity Program in 2000 to increase spending with underrepresented business groups. The size of the program is unknown as Goldman Sachs does not report spending data with diverse suppliers. However, the company has committed to enhancing its reporting capabilities, though progress on this front is also unknown.
Despite the lack of publicly reported data, Goldman has announced plans to increase spending by 50% from 2020 to 2025. They believe that working with diverse vendors can bring a range of perspectives that will benefit and enhance the services they offer their clients. Goldman invites among others, certified small businesses, women, minority, disability and LGBT owned businesses and works with various certification organizations to achieve its diversity goals.
Goldman’s commitment to developing new entrepreneurs is more clearly described by the firm. Through programs such as 10,000 Small Businesses, 10,000 Women and Launch with GS, Goldman commits capital and talent to emerging businesses. The programs help entrepreneurs including diverse business owners create jobs and economic opportunities through the provision of education, capital, networking and business support services.
Goldman has started off 2021 enhancings its commitments to advancing economic inclusion. It increased its commitment to Launch with GS by $500 million to a total of $1 billion. A new initiative, One Million Black Women, is a $10 billion commitment to creating economic opportunity for black women. As a new program, details on how this program will engage businesses owned by black women are not yet clear, but Goldman has committed to transparency and frequent reporting.
“The Vendor Diversity Program is important to Goldman Sachs for three reasons: One, it helps us provide the best possible solutions to clients by bringing talented, experienced professionals into our network. Two, it drives growth opportunities for these businesses, and we’ve seen time and again that our program partners pay it forward in their communities. And three, it is a chance for us to break down barriers to growth that still exist for minority business owners – and that’s critical for a healthy society.”
- David M. Solomon, Chairman and CEO, Goldman Sachs
At least 51% owned, controlled AND operated by one or more members of a diverse group:
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From selling bankers bags on the pavement to a lasting partnership with Goldman Sachs
Woman-owned Scarborough & Tweed developed an iconic bag design,which led to long-term relationship with Goldman Sachs and a full service company store with a wide range of products.
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