Recently, Amazon launched a black business accelerator to supports enterprises and small businesses run by black. Pandemic has affected many businesses and firms. Most of them are not able to thrive after the pandemic. The tech giants promise to invest $150 million into small businesses to help them become successful amazon sellers. Similarly, they have also agreed to help new sellers as well. This amount will be on Business Education, Financial support, brand promotion, and marketing.
Lorenzo Patton is also a vice president at Amazon Finance. He said that “I am happy to be a member and advisor of Black Employee network who works to support black workers to promote equity, diversity, and inclusion as assets to strengthen bonds and capabilities of Amazon.”
What is Black Business Accelerator (BBA)?
Amazon’s black business accelerator (BBA) was inspired by BEN leader who works with black sellers every. He saw an opportunity to spur growth and to drive success among black sellers. Amazon has said that after the pandemic many businesses and firms are affected and are struggling to thrive. This initiative is mainly targeted to black sellers who were affected by the pandemic. Besides this, it is also targeting barriers which are not letting seller enter in their platform.
Earlier in 2020 amazon posted a new reported that many sellers were able to sell 60% of products from their stores. This is the main goal company is to help black-owned business to enjoy some kinds of success within their platform. There are lots of black entrepreneurs who don’t have the proper knowledge to list their products on Amazon. They have very little access to capital, mentorship, and growth opportunities. So, this initiative can help lots of black-owned businesses to generate high sales and high revenue.
As per the BBA initiatives, Sellers will get $3900 worth of services from Amazon. This includes Amazon credits, services, access to the mentorship program, and amazon advertising credits. Similarly, they are also doing partnerships with Hello. Hello, Alice is an organization dedicated to help entrepreneur grow and lunch the businesses. The application for this grant will start on September 2, 2021.
In April Amazon released the data of race and gender-based workforce on Amazon. It was found that there was an increase in the number of black directors and vice presidents. It was doubled as compared to the previous year. The company is also welcoming many black workers in different positions. In 2020, there was 5.4 grew of a black worker on their company.