Supporting Black and Hispanic Entrepreneurs with Elevate Together Grants
On October 23rd, the South Florida Hispanic Chamber of Commerce (SFLHCC) held a momentous awards ceremony to honor the recipients of the 2024 Elevate Together grant. This initiative, a collaboration between the SFLHCC and the U.S. Hispanic Chamber of Commerce, with generous support from Office Depot, aims to empower Black and Hispanic small businesses by providing vital financial resources and mentorship.
At the ceremony, each selected business was awarded a grant of $5,000 to support its growth and sustainability. This year, several minority-owned businesses, specifically those with five or fewer employees, were recognized for their contributions to the local economy. Over the past five years, the Elevate Together initiative has made a substantial impact, contributing more than $210,000 to stimulate economic growth within minority communities. The funds not only provide immediate financial support but also foster long-term development and innovation among underrepresented entrepreneurs.
Mentorship and long-term growth
The Elevate Together program not only focuses on providing grants but also incorporates a mentorship component facilitated by SCORE, a nationwide organization dedicated to helping small businesses succeed. Recipients of the grant are required to participate in three mentorship sessions with SCORE, where they receive personalized guidance on business growth strategies and operational best practices. This dual support system aims to equip grant recipients with the knowledge and tools needed to maximize their potential, ensuring that the benefits of the program extend well beyond the financial assistance provided.
Many minority-owned businesses face unique challenges, including limited access to funding and resources. The Elevate Together grant serves to level the playing field for eligible businesses, enabling them to overcome these obstacles and pursue their entrepreneurial dreams. Alongside the cash grants, recipients also benefit from in-kind support, such as Office Depot supplies, to help their businesses operate more effectively.
A commitment to community and educational advancement
The SFLHCC’s Minority Business Program has been instrumental in providing technical assistance and financial support to hundreds of small businesses in the region. Over the years, the chamber has allocated more than $160,000 to various programs aimed at fostering the growth and success of local entrepreneurs. Monthly networking events and educational workshops further complement the SFLHCC’s mission by connecting business owners and offering valuable resources tailored to their needs.
In addition to supporting small businesses, the SFLHCC is dedicated to educational advancement within the community. The organization has awarded over $1 million in scholarships to Hispanic students in financial need who are pursuing degrees in business, healthcare, and tourism. Through programs like the Education Enrichment Fellowship Program, the chamber also provides scholarships that enable minority students to attend conferences and network with industry leaders, broadening their horizons and career opportunities.
The Elevate Together initiative and the SFLHCC’s broader mission exemplify the commitment to fostering economic resilience and growth within South Florida’s diverse communities. As Liliam M. Lopez noted, the chamber continues to build strong partnerships with local organizations and corporate sponsors, working collaboratively to create a vibrant ecosystem that supports the development of small businesses and the community.
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