The Norfolk-based nonprofit, Black BRAND, has received a $750,000 startup grant to boost local African American and Latinx companies. The Rockefeller Foundation’s generous contribution will provide funding and support to 100 such businesses in Norfolk, aimed at ensuring their long-term sustainability. The grant will be used to enhance the B-Force Accelerator Program, a 12-week intensive initiative for black-owned early-stage businesses. It offers access to free legal, accounting, and marketing resources. The program also facilitates networking and mentorship opportunities to support individual business growth and the expansion of the local Black economy. The startup grant boosts local African American and Latinx companies in Norfolk by meeting varied business needs and preparing them for procuring contracts and investments.

Grant Awarded to Support African American and Latinx Companies

NORFOLK, Va. (WAVY) — Black BRAND, a nonprofit based in Norfolk, recently received a $750,000 grant to help support locally owned African American and Latinx companies. The $750,000 grant from The Rockefeller Foundation will be used to provide funding and support to 100 Norfolk-based African American and Latinx companies. The funds will help to ensure the long-term sustainability of minority businesses in the community.

Supporting Black BRAND’s B-Force Accelerator Program

“It means we’re really able to make an investment,” said Black Brand President Blair Durham about the grant. “One thing we’ve learned with this population is they need access to capital, but the fact they have not had access to capital means they have not had access to really critical business advisory services like accounting, like legal support, like marketing and branding support.” The 12-week program is designed to be an intensive experience for black-owned early-stage businesses. Participants will have access to free legal, accounting, and marketing resources.

Networking and Mentorship Opportunities

Black BRAND Program Manager Brian Owens says the organization is here to not only provide resources but also provide networking. “You need a network. You need a support group. That’s why we’re here to help,” he said. By helping individual businesses grow, Owens believes it will also help the entire Black economy grow in the area.

Expanding Opportunities for Minority Business Owners

Owens says the course is extensive but will also provide information and advice on how businesses can procure contracts and prepare them for investments. The grant money they’ve received will help the program continue to grow. ‘No matter what a business’s needs are, the B-Force program has grown to meet them where they are,” he said.

Application Process and Future Cohorts

Durham expects them to get a number of applications for the program and the application process will be competitive. She says they will be looking for businesses that articulate where they are and how they will grow. Applications for the Norfolk cohort will open on Feb. 15 and close on March 5. Black BRAND is also starting a cohort in February for 40 Portsmouth minority business owners.

Question & Answer

What is the purpose of the $750,000 grant received by Black BRAND?

The grant received by Black BRAND aims to support locally owned African American and Latinx companies in Norfolk by providing funding and support to 100 such businesses to ensure their long-term sustainability.

What is the B-Force Accelerator Program offered by Black BRAND?

The B-Force Accelerator Program is a 12-week intensive initiative for black-owned early-stage businesses that offers access to free legal, accounting, and marketing resources. It also provides networking and mentorship opportunities to support individual business growth and the expansion of the local Black economy.

How does Black BRAND plan to support minority business owners beyond funding?

Black BRAND not only provides financial support but also offers networking opportunities and mentorship to help individual businesses grow. The organization aims to support the entire Black economy in the area by assisting businesses in various aspects of growth and development.

What opportunities will the B-Force program provide for minority business owners?

The B-Force program will offer information and advice on how businesses can procure contracts and prepare for investments. It aims to meet the diverse needs of businesses and prepare them for future growth and success.