There’s a new grant opportunity for Black-owned businesses based in Memphis, one that is offering five grants of $5,000 each to the city’s entrepreneurs. And with the deadline fast approaching, there’s no time like the present to get applications in order.
What it is:
The IKEA U.S. Community Foundation has partnered with the Greater Memphis Chamber to donate a total of $25,000, or $5,000 each, to five local Black-owned businesses and organizations “that work to support social justice, economic empowerment, and education initiatives in Black communities,” according to the organizations. The grants stem from the IKEA Black Business Initiative first launched by the IKEA U.S. Community Foundation in 2020.
Why it’s important:
"Memphis has the fifth highest percentage of Black-owned businesses in the nation and leads in several categories, including the concentration of Black talent in tech and manufacturing jobs," says Beverly Robertson, president & CEO of the Greater Memphis Chamber. "In a majority- minority city like ours, we know that the only sustainable growth is inclusive growth. That's why we're proud to present these grants, made possible by the generosity of the IKEA U.S. Community Foundation, to help five Black businesses take their companies to the next level."
Eligibility requirements for the grants include the stipulations that applicants must be a majority Black-owned, for-profit business; have between one and 50 employees; has a business owner that is at least 18 years old; and is a member of the Greater Memphis Chamber.
A full breakdown of requirements, preferences, and the application process itself is available online HERE
How to apply:
The application window to apply opened on Thursday, Nov. 3, and must be received by 11:59 p.m. on Friday, Nov. 11, 2022. Applications can be sent via email to [email protected]
or by mail to the Greater Memphis Chamber, 100 Peabody Place, Suite 1000, Memphis, TN 38103, Attn: Patricia McKinney.
Visit memphischamber.com/ikea for a complete breakdown of the grant process