Black Lives Matter. Black Lives Matter. Black Lives Matter. We hear it everywhere. We see it everywhere. Many support the cause and are here to help. But we wonder, are the intentions of all who are offering support doing so out of the goodness of their hearts, or are some capitilizing on a moment?
The murder of George Floyd on May 25, 2020 prompted many business boycotts from the Black Community. In addition, many businesses started offering incentives and grants for Black Owned Businesses. But are these new initiatives to support the Black Community genuine or is it a way for businesses to align their names with the cause to get publicity.
Right now, the Black Business Groups on Facebook are discussing these Black Business Grants and they are not happy. Companies that have capitilized off of the Black Community for years and have made billions are offering as little as $100,000 total in Black Business Grants in amounts of $10,000 Per business. Visa is one such company.
Visa, a billion dollar company, has partnered with a company called IFundWomen to offer the “IFundWomen
Grant Program for Black women-owned businesses” Grant. This grant program offers a total of $100,000 in funding to a total of 10 black Business women. One of the criteria to apply is that the business has an annual income of $24,000 per year. This immediately eliminates many businesses that are just starting off. In addition, many are questioning whether successful businesses actually need a grant to begin with. If we eliminate the businesses who need the money, then what is the purpose of the grant?
What are your thoughts on all of the businesses who have come out in support of Black Owned Businesses during this time?
