by Jeffrey McKinney
June 3, 2024
A fresh grant program aims to help fuel growth for small businesses with funding and other resources.
Black entrepreneurs could be among the awardees of $200,000 in total grants through the QuickBooks Grant Program.
QuickBooks will make available $10,000 each to 20 small business owners across the country, along with mentorship programming and resources. QuickBooks is among several brands the global financial technology platform Intuit Inc produces.
The program is within several activations for Intuit’s Small Business Success Month. It recognizes small businesses by offering funding, tools, and resources to help fuel their growth. Raising capital, including for Black-owned firms, is often cited as a large operating hurdle for small businesses.
According to this report, almost 25% of U.S. consumers plan to start a new business this year. It stated, “Starting a small business is considered a better way to build personal wealth in 2024 than buying a home, especially among younger generations.”
Simultaneously, new and established small businesses still face a climate of tightened credit availability because of economic headwinds, including high interest rates and inflation. That obstacle exists even though small business formations have reportedly risen in recent years.
Emma Rodgers, senior vice president of marketing & revenue at Intuit QuickBooks, said of the grant program, “Helping small businesses thrive is critical to our communities and our economy, but access to capital continues to be a challenge many entrepreneurs face.”
She added, “QuickBooks is focused on supporting all small businesses with the tools and resources they need to grow and succeed. With the launch of this new grant program, we look forward to delivering impactful funding that can help make business dreams a reality and power prosperity for the small business community.”
Those interested can apply now through June 30. Business owners must submit a brief essay on how the grant will help them overcome business challenges or achieve a business dream. Learn more about eligibility requirements and details of the judging criteria here.
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