$2 Million Grant to Benedict College Women's Business Center Empowers Black Women Entrepreneurs
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Posted By: S. Moore on August 16, 2023 The Grant will enable the Benedict College Women’s Business Center to help empower entrepreneurs from socially and economically disadvantaged backgrounds in South Carolina. Columbia, SC, August 14, 2023, The Benedict College Women’s Business Center (WBC) has been selected as one of 43 organizations nationwide to receive a significant grant award from the Minority Business Development Agency (MBDA) Capital Readiness Program (CRP). The $2 million that the BC WBC will receive is part of the Biden Administration’s Capital Readiness Program. Over the next four years, the grant will enable the WBC to expand its mission and services which focuses on empowering entrepreneurs from socially and economically disadvantaged backgrounds. “We are thrilled and humbled to be chosen as a recipient of this grant. With this funding, we can further our commitment to supporting under-resourced entrepreneurs, especially women, veterans, and those from rural communities in South Carolina,” said, Shauna R. Cooper, the Executive Director of the Benedict College Women’s Business Center. “Our goal is to emphasize diversity and inclusion in the business world. This grant will enable us to make a lasting impact on the entrepreneurial landscape.” “We applaud the Minority Business Development Agency for their commitment to supporting incubators and accelerators that are providing critical services to South Carolina’s underserved businesses,” said Dr. Roslyn Clark Artis, President and CEO of Benedict College. “I am proud that our Women’s Business Center is one of the first awardees under the Capital Readiness Program especially since it is the only statewide Women’s Business Center at an HBCU.” “The Capital Readiness Program marks the largest investment to support underserved entrepreneurs and businesses in Commerce Department history,” said U.S. Secretary of Commerce Gina Raimondo. “The Biden Administration continues to make historic investments in building a strong, equitable economy, including by supporting our Nation’s small and disadvantaged businesses. The Capital Readiness Program will provide the resources and tools to prepare businesses to access capital and funding, and ensure prosperity is within reach for all American entrepreneurs. Under the grant program, the WBC will implement initiatives designed to address the unique needs of socially and economically disadvantaged entrepreneurs in South Carolina. The WBC aims to level the playing field by providing accessible and flexible technical assistance services, ensuring that all entrepreneurs have the necessary tools to succeed. The program will offer both virtual and in-person resources, including agnostic and retail-specific accelerator programs, mentoring, consultation services, and networking events tailored to the diverse needs of the participants. “We also want to acknowledge the continuous advocacy of Congressman James E. Clyburn and his unwavering support of the MBDA which is the only federal government agency dedicated solely to supporting the growth and global competitiveness of minority business enterprises,” noted Dr. Artis. “As the first Under Secretary of Commerce for Minority Business Development, Mr. Donald Cravins, Jr. has shown outstanding leadership championing the nation’s 9.7 million minority business enterprises.” Through intentional programming, mentorship, networking, and one-on-one business consultation services, the WBC strives to create a more equitable and diverse entrepreneurial ecosystem. By breaking down barriers and offering equal opportunities for success, the center aims to foster a thriving entrepreneurial community. The award from the U.S. Department of Commerce’s Minority Business Development Agency was announced by Vice President Kamala Harris at a White House “Investing in America: Small Business” event on August 4. “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,” said Harris. SOURCE Benedict College Newsroom If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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