US Vice President, Kamala Harris is leading the move in support of underserved Black businesses across America that have suffered from underfunding and difficulties accessing capital.
She announced the Capital Readiness Program and the 43 winning organizations. It was a mix of both nonprofit and community-based organizations, private sector entities, and institutions of higher education situated across the country.
She said,
- President Biden and I firmly believe that for America’s economy to be strong, America’s small businesses must be strong. I am proud to announce that we will invest an additional $125 million in small businesses across our country through a national network of small business incubators and accelerators.
- President Biden and I are fighting to ensure that every entrepreneur in America—no matter who they are or where they live—can access the capital to start or grow a business, create jobs, and thrive.
The Capital Readiness Programme, according to AFRO News is the largest-ever direct federal investment in small company incubators of its kind. The organizations are working together to help and teach underprivileged entrepreneurs who are looking for resources, tools, and assistance to establish or develop their firms in high-growth, high-wage areas including healthcare, climate-resilient technology, asset management, and infrastructure.
Read more: https://www.investingport.com/us-vi...unces-125m-support-fund-for-bipoc-businesses/