Business

Topic: New Visa Program Offers $10,000 Grants To Black Women Entrepreneurs

Keywords:

Visa program offering $10,000 grants

Black women entrepreneurs

New visa program

$10,000 grants

Visa offers

IFundWomen

Meta Description: Are you one of the black women entrepreneurs and looking for funding to start your own small business? Then, you shouldn’t be wasting any time and avail the new Visa program offering $10,000 grants to black women entrepreneurs.

New Visa Program Offers $10,000 Grants To Black Women Entrepreneurs

The new Visa program of 2020 is offering $10,00 grants to black women who own a business and are based in the U.S. This is the first step of series to assist small businesses by Visa. The process of submitting your application is open and will be extending till July 31st, 2020. You can apply today for your application at IFundWomen.

Let us discuss this topic briefly about the visa program offering $10,000 grants.

1. The Benefit

The person who gets enlisted as a winner will get the benefit of receiving educational resources, access to a network having female business owners, the assistance of private coaches, and an annually based membership in IFundWomen which is a leading platform, providing coaching and funding to businesses owned by women. This is the platform offering $10,00 grants to black women entrepreneurs.

2. Applying Procedure

IFundWomen is aiding black women by introducing a  Visa program offering $10,000 grants to 10 winners. Their main aim of serving is to fill the funding gap for black women entrepreneurs. The one in luck will receive it. To qualify for this visa offer, your business doesn’t even need to have workers on salary.

3. Is it Worth It?

Suzan Kereere is Visa’s global head of retailer sales and acquiring. According to her $10,000 grant is a handsome amount. Many entrepreneurs are looking for a range and estimate of fundings when they are about to turn their concept into a project based on earning and $10,000 is considered a nice amount. The amount required to start your own ordinary business is from $8,000 to $14,000. The main reason why so few businesses make it to the initial investment stage is because they need many resources to take a step. People who cannot afford such capital support and flexibility will be needing this new visa program.

4. Black Women As An Entrepreneur

It is noticed that a higher rate of businesses was introduced to the market by black women entrepreneurs than the remaining population. Yet, the businesses suffered most of the loss due to COVID 19 pandemic were black-owned businesses. According to the analysis from Stanford Institute for Economic Policy Research, from February to April there was a drop of 41% business owners and 22% decline drop for all owners of small businesses. A turndown was faced by a number of black-owned businesses, based on the Current Population Surveys’ monthly data the number declines was from 1.1 million in February to 640,000 in April.

5. Affects Of COVID 19

The businesses owned by youth entrepreneurs, immigrants, women were more intensively impacted by the COVID 19 pandemics in industries. But lack of resources was also a factor of the COVID 19 after-affects. It was officially announced by Visa globally and made a promise that they will be going to support 50 million small business owners to recover from the influences of the pandemic by allowing every user digital payments, incentivizing community support, and, aid in building an online business. They come up with a Visa offer every once in a while.

6. Envolment Of Digital Techonolgy

Visa came up with the sum of money spent online by users around the world. They noticed a 25% rise between four months period from January to April per cardholder.   Small businesses online have made most of their service dependent on digital technology and most of the users are not very tech-savvy. Kereere said.” She wanted to ensure that the small business owners were left underdevelopment because of everything moving to digital platforms. This is why they are providing a visa program offering $10,000 grants.

7. Visas’ Assitance

In over 20 countries visa has launched a localized online resource center. They offer newbies support to begin a small business. Visa is investing in online payment acceptance methods and devices in European markets. A project known as Back To Business was originated by Visa to assist customers to identify the businesses that are open again nearby in New Zealand, Australia, and the U.S. They are helping black women entrepreneurs too where possible.

8. Main Focus

The Visa Economic Empowerment Institute was created by payments company, which was focused on both social and economic issues, such as the challenging effects of a pandemic on small businesses and the gender and racial opportunity gaps. Their purpose is to encourage governments and NGOs concerned in allowing funding and reach more funding providers by an activity compelled by data. Black women entrepreneurs are can help in such activity.

Conclusion

This Visa program offering $10,000 grants is being carried out by Visa who is committed to offering black women entrepreneurs resources, connections, and coaching that they might need to make their business successful and more expandable. They will be going to select the top 10 qualified winners and they will award each with $10,000 grants and plus a 1-year full  IFundWomen Annual membership.

They also made a commitment globally to help small businesses over 50 million to recover from the loss caused by COVID 19 by allowing every user digital payments, incentivizing community support, and, aid in building an online business. Kereere said.” She wanted to ensure that the small business owners were left underdevelopment because of everything moving to digital platforms. In over 20 countries Visa has launched a localized online resource center. They offer newbies support to begin a small business. Make sure that you apply for the new Visa program. If we forgot to mention any details related to this topic make sure you let us know by leaving a comment.

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