U.S. Commerce Department data have shown that businesses owned by people of color are less likely than businesses owned by white people to secure funding, especially for businesses with less than $500,000 in gross receipts.
Amazon’s Black Business Accelerator Program, created to support Black entrepreneurs, offers financial support, mentorship, business advice, and promotional support for Black-owned businesses. Black Business Accelerator resources is free for certified Black-owned U.S. businesses with a Professional Seller account selling in Amazon’s store.
Qualified businesses will have access to free imaging services, cash grant opportunities, advertising credits, and money toward start-up costs. That is,
- $500 credit to assist with start-up and operational costs for newly-registered Amazon Professional sellers.
- Sponsored Enhanced Digital Certifications for Black-owned business through SupplierGATEWAY.
- Up to one year of account management for personalized insights and recommendations, operational support, and issue assistance.
- Access free education resources to help you sell in Amazon’s store.
- FREE imaging services for up to 50 products to help showcase products.
- Up to $3,000 in advertising credits to increase exposure for brands.
All sellers in the U.S. who :
- have an Amazon Professional Sellers account,
- have a physical product(s) ready to promote and sell, and
- have uploaded a valid minority-owned business registration or certification to their account in Seller Central from the U.S. System for Award Management, U.S. Small Business Administration, National Minority Supplier Development Council, or SupplierGATEWAY, demonstrating the business is Black-owned based on the criteria of the certifying body.
Access to Black Business Accelerator resources has no deadline. Applications are reviewed on a rolling basis. The company, in the meantime, is providing free training and educational resources on how to start and build a successful business selling online are available through its Amazon Small Business Academy, Amazon Seller University, and the Minority Business and Technology Initiative.
Amazon is known to be American multinational technology company which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence