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Amazon invests $150M to support Black-owned businesses

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Posted at 1:44 PM, Jun 15, 2021

NORFOLK, Va. - Amazon is launching a new program to help Black-owned businesses.

They're investing $150 million into their new Black Business Accelerator.

Businesses will get help in a number of ways, including financial support.

They'll be giving out $10,000 grants to select participants.

Amazon also plans to help advertise and promote products and mentor business owners.

"It's really about positioning these businesses for success," said Amazon manager Brandi Neloms. "Selling online, particularly selling on Amazon, almost instantly unlocks a powerful economic opportunity."

Related: New accelerator program focuses on growing Black-owned businesses

According to the U.S. Census Bureau, Black Americans make up 14% of the population but just 6% of retail business owners.

You can learn more about the program and how to get started by clicking here.