Beyoncé Teamed Up With the NAACP to Uplift Black-Owned Businesses
The Black-Owned Small Business Impact Fund will provide $10,000 grants.
Beyoncé Knowles-Carter's latest announcement might not be a new hit song, but it is a project her fans can still get behind.
The singer-songwriter and her foundation BeyGOOD recently launched the Black-Owned Small Business Impact Fund in partnership with the National Association for the Advancement of Colored People (NAACP) to help Black entrepreneurs in the United States thrive. The fund will provide $10,000 grants to Black-owned companies in cities across the country that have been affected by the COVID-19 pandemic and the fight for racial justice.
"Over the last couple of months, the pandemic and outpours for justice throughout the Black community and across the country has been felt in every imaginable area of our lives, including in how our local businesses continue to operate," the NAACP said in a statement.
Black-owned businesses have been among the hardest hit by the COVID-19 pandemic, as they tend to have fewer resources to rely on and generally receive less financial assistance. While Black-owned businesses are receiving an outpouring of support in light of the Black Lives Matter movement, many cannot keep up with demand.
Business owners who live in Houston, Atlanta, New York, Los Angeles, or Minneapolis and who can estimate expenses as a result of property loss or inventory replacement can apply for the grant until Saturday.
In recent months, Knowles-Carter expressed support for the Black Lives Matter movement and drew attention to COVID-19’s disproportionate impact on the Black community during Global Citizen's One World: Together At Home broadcast. She remixed Megan Thee Stallion’s song "Savage" to benefit Houston organizations helping underserved communities affected by the pandemic in April. Then, in May, she created the #IDIDMYPART campaign with her mother Tina Knowles-Lawson to encourage Black people and communities of color to get tested for COVID-19.
Founded in 2013, BeyGOOD aims to inspire people to be kind to others and themselves, and more charitable. The initiative has supported programs in the US, Europe, South America, and the Caribbean.
"The NAACP is proud to partner with BeyGOOD to help strengthen small businesses and to ensure economic empowerment for Black businesses," the statement said.