Over the past months, a number of Fortune500 companies have announced financial support to minority small businesses which have suffered the hardest impact from the pandemic and social unrest. Some of this support has been targeted at specific communities – such as Black small businesses. Others have taken a broader approach to include all minority small businesses in need.
As the U.S. economy struggles to get back on track, we have heard from many minority-owned businesses that there are still numerous unmet needs and few sources of assistance.
Project Rebuild – Join Us to Make a Bigger Impact
We believe that corporate initiatives are a critical part of long-term, collective solutions needed to help small businesses in minority communities. Many small businesses are the bedrock of America’s economy, and are in dire need not just for funds but technical support Non-financial support is a win-win-win: large corporations can not just donate funds but also the time and skill of their workforce; employees can be directly involved in providing solutions; and small businesses can access high-value services and counsel that would normally be out of their reach.
AABDC plans to focus on delivering the following
Identify Financing – banks, SBA, CDFI (Community Development Financial Institutions), non-profit business lenders.
Marketing expertise, including communications and advertising firms to develop marketing strategies, as well as providers with the skills to implement them.
Technology providers and expertise to upgrade and to digitize, especially in view of the necessity to migrate marketing and operations to be fully online.
Professional advisory services – legal, accounting, management consulting, human resources and training, real estate, etc.