by Jeffrey McKinney
June 3, 2024
The new grant program aims to encourage small business growth with funding and other resources.
Black entrepreneurs could be potential recipients of grants totaling $200,000 through the QuickBooks Grant Program.
QuickBooks will provide $10,000 each to 20 small business owners across the country, along with mentorship programs and resources. QuickBooks is one of several brands produced by global financial technology platform Intuit Inc.
The program is one of several activities during Intuit’s Small Business Success Month, which recognizes small businesses by providing them with funding, tools and resources to help them grow. Funding is often cited as a major operational barrier for small businesses, including Black-owned businesses.
According to the report, about 25% of U.S. consumers plan to start a new business this year. “By 2024, starting a small business is considered a better way to build personal wealth than buying a home, especially among younger generations,” the report said.
At the same time, new and existing small businesses continue to face challenges in accessing credit due to economic headwinds such as high interest rates and inflation. This obstacle exists despite a reported increase in the creation of small businesses in recent years.
“Helping small businesses thrive is important to our communities and economy, but accessing capital remains a challenge many entrepreneurs face,” Emma Rogers, senior vice president of marketing and sales at Intuit QuickBooks, said of the grant program.
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 providing effective funding to help realize business dreams and help our small business community thrive.”
Interested parties can apply now through June 30. Business owners will need to submit a short essay about how the grant will help them overcome a business challenge or realize their business dreams. More information on eligibility requirements and review criteria can be found here.
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