Power Forward Small Business Grant: A New Opportunity for Black-Owned Businesses in New England

Black-owned businesses are essential to the economic vitality of our communities. They create jobs, generate tax revenue, and support local economies. However, Black-owned businesses face significant challenges, including access to capital, discrimination, and a lack of resources.

The Power Forward Small Business Grant is a new initiative from Vistaprint, the Boston Celtics Shamrock Foundation, and the NAACP. The program aims to create a lasting impact through the economic empowerment of Black-owned small businesses across New England. Through a combined commitment of $1 million, the program will award transformative grants of $25,000 on a rolling basis. Grant recipients will have opportunities to be featured on national co-branded platforms along with receiving marketing and design resources customized to their specific needs to help their businesses grow and thrive.

The Importance of Supporting Black-Owned Businesses

Black-owned businesses are essential to the economic vitality of our communities. They create jobs, generate tax revenue, and support local economies. According to the U.S. Census Bureau, Black-owned businesses in the United States generate $1 trillion in annual revenue and employ over 2 million people. However, Black-owned businesses are also more likely to fail than white-owned businesses. A study by the National Bureau of Economic Research found that Black-owned businesses are 50% less likely to survive their first five years than white-owned businesses.

There are a number of reasons why Black-owned businesses are more likely to fail. One reason is that they face significant challenges in accessing capital. Black entrepreneurs are less likely to be approved for loans from banks and other financial institutions. Another reason is that Black-owned businesses are more likely to face discrimination. Black entrepreneurs are more likely to be denied service by suppliers and customers. They are also more likely to be the victims of crime.

The Power Forward Small Business Grant

The Power Forward Small Business Grant is a critical step in addressing these challenges and supporting the growth of Black-owned businesses in New England. The grant will provide much-needed financial assistance to help these businesses grow and thrive. In addition, the grant will provide marketing and design resources that can help these businesses reach new customers and grow their brand.

The Power Forward Small Business Grant is open to Black-owned small businesses with 1 to 25 employees that are based and operating in Massachusetts, Maine, New Hampshire, Rhode Island, Vermont, or select areas of Connecticut. Applicants must demonstrate the impact their small business has on their greater community and showcase how they intend to use the $25,000 grant award.

The application process is open now and will close on June 15, 2023. To learn more and apply, please visit the Power Forward Small Business Grant website.

How CRM Software Can Help Black-Owned Businesses

CRM software can be a valuable tool for Black-owned businesses. CRM software can help businesses track their leads, manage their customer relationships, and automate their marketing. This can free up time and resources that can be used to focus on growing the business.

There are a number of CRM software solutions available that are specifically designed for small businesses. These solutions are affordable and easy to use, making them a great option for Black-owned businesses.

How to Apply for the Power Forward Small Business Grant

The application process for the Power Forward Small Business Grant is simple. To apply, simply visit the Power Forward Small Business Grant website and complete the online application form. The application form asks for information about your business, your goals, and how you plan to use the grant funds.

The application deadline is June 15, 2023. All applications will be reviewed by a panel of judges. The judges will select the grant recipients based on the following criteria:

  • The impact of the business on the community
  • The applicant’s business plan
  • The applicant’s financial need

If you are a Black-owned small business in New England, I encourage you to apply for the Power Forward Small Business Grant. This is an incredible opportunity to receive the resources and support you need to grow your business and make a difference in your community.

In addition to applying for the Power Forward Small Business Grant, there are a number of other things you can do to support your business. These include:

  • Networking with other Black-owned businesses
  • Attending industry events
  • Investing in marketing and advertising
  • Offering excellent customer service
  • Building a strong brand
  • Staying up-to-date on industry trends

By taking these steps, you can help your business grow and thrive.

Conclusion

The Power Forward Small Business Grant is a valuable resource for Black-owned businesses in New England. The grant can provide much-needed financial assistance and marketing and design resources to help these businesses grow and thrive. In addition, the grant can help Black-owned businesses reach new customers and build their brand.

The Power Forward Small Business Grant is a great example of how businesses and organizations can come together to support the economic empowerment of Black communities. By investing in Black-owned businesses, we can help to create jobs, generate tax revenue, and support local economies. We can also help to build a more equitable and just society.

If you are a Black-owned small business in New England, I encourage you to apply for the Power Forward Small Business Grant. This is an incredible opportunity to receive the resources and support you need to grow your business and make a difference in your community.

In addition, I would like to introduce you to our CRM SaaS, which can help you to track your leads, manage your customer relationships, and automate your marketing. Our CRM SaaS is affordable and easy to use, making it a great option for Black-owned businesses.

Try our CRM Today

To learn more about our CRM SaaS, please visit our website or contact us today. We would be happy to answer any questions you have and help you get started.