Key Takeaways
Wish Local’s $2 million fund empowers Black-owned small businesses with grants up to $2,000.
Diverse teams outperform individual decision-makers by 87% in business settings.
Recipients gain access to Wish’s e-commerce platform and pickup location network.
Eligible businesses must have under 20 employees and $1M annual revenue.
The Wish Local Empowerment Program is a $2 million fund aimed at supporting Black-owned small businesses in the United States. This initiative is part of Wish Local’s commitment to promoting equality and diversity in American commerce. The program provides financial grants ranging from $500 to $2,000 to eligible Black-owned brick-and-mortar stores with 20 or fewer employees and an average annual revenue of less than $1 million.
Eligibility Criteria
To qualify for the Wish Local Empowerment Program, businesses must meet the following criteria:
Black-owned business: The business must be majority-owned by Black individuals.
Age requirement: The owner must be 18 years or older.
Employee count: The store must have 20 or fewer employees.
Location and store type: The business must be a brick-and-mortar shop within the United States.
Revenue: The store must earn an average annual revenue of under $1 million.
If selected, recipients will be required to join the Wish Local program, which is free to join.
Benefits of the Program
The Wish Local Empowerment Program offers several benefits to participating businesses:
- Financial support: Grants range from $500 to $2,000, providing much-needed financial assistance to eligible businesses.
- Access to Wish Local program benefits: Joining Wish Local allows businesses to sell their inventory on Wish, act as neighborhood Wish pickup locations, source wholesale items, and more. This partnership can increase foot traffic and brand recognition, potentially boosting sales.
- Flexibility in fund allocation: There are no specific requirements on how to allocate the funds. Recipients are encouraged to use the money to keep their workforce employed, pay rent, operation or inventory costs, connect with new customers, or provide opportunities for their community.
Application Process
To apply for the Wish Local Empowerment Program, follow these steps:
- Visit the application page: Go here to access the application form.
- Tell about your store: Provide details about your business, including what it does and the products/services it provides.
- Explain why you qualify: Write a brief explanation of why you are applying for the program and how it will benefit your business.
- Upload images and videos: Include images of your store and optionally upload video links to share more about your business.
- Certify your eligibility: Check the box to confirm that you meet all the eligibility criteria.
- Submit your application: Complete the form and submit your application for review.
Conclusion
The Wish Local Empowerment Program represents a significant opportunity for Black-owned small businesses to secure much-needed financial support and leverage the benefits of partnering with Wish Local. By joining this program, businesses can not only receive grants but also access a broader customer base, potentially leading to increased sales and brand recognition. If you meet the eligibility criteria, don’t miss out on this chance to boost your business. Apply now and take the first step towards a more prosperous future.
By supporting diversity and inclusion in business, initiatives like the Wish Local Empowerment Program can have a profound impact on both individual businesses and the broader economy. Embracing diversity fosters innovation and creativity within an organization. For smaller businesses with fewer employees, adding diversity makes a more significant short-term impact than it often can at larger organizations that already have large, non-diverse populations.
Organizations that prioritize diversity, equity, and inclusion (DEI) initiatives can reap extensive benefits, including increased innovation, improved decision-making, and enhanced financial performance. A diverse and inclusive workforce creates a virtuous cycle that drives business success and fosters a more productive environment for all employees.
Diverse teams outperform individuals about 87% of the time during business decision-making processes, according to a study by Cloverpop. Diverse teams also make decisions faster than individuals, highlighting the importance of diversity in problem-solving and strategic planning.
