Amazon have recently announced the launch of their Black Business Accelerator grant program in the US. According to Amazon, this program will help to build sustainable equity and growth for Black-owned businesses by explicitly targeting barriers to access, opportunity, and advancement created by systemic racism across America.
In a statement made to sellers in the US, Amazon bring attention to the program that offers Financial assistance, Business education & mentorship and Marketing & promotional support to Black-owned businesses.
“Amazon, in partnership with our Black Employee Network and a coalition of non-profit partners, has launched the Black Business Accelerator (BBA) 348 grant program. This program will help to build sustainable equity and growth for Black-owned businesses by explicitly targeting barriers to access, opportunity, and advancement created by systemic racism across America. Backed by a $150 million commitment 50, this initiative aims to drive economic equity for Black entrepreneurs by providing them with resources to thrive as entrepreneurs and business leaders. Amazon’s BBA program will provide access to financial support, strategic business guidance and mentorship, and marketing and promotional support to help both current and aspiring Black small business owners grow their businesses and maximize the opportunities of selling in Amazon.”
– Statement to US Amazon sellers
This new program is backed by Amazon’s $150 million commitment to empower Black entrepreneurs over the next four years. According to Amazon, Third-party sellers on Amazon—almost all of whom are small and medium-sized businesses—represent nearly 60% of product sales in their store and saw record sales growth in 2020. They want more Black-owned businesses to enjoy this success and hope to make that possible through such commitments.Amazon • AMAZON FBA • Amazon News • MAKE MONEY WITH AMAZON FBA • Marketplaces • Merchants News • News • SELL ON AMAZON