In a continuing effort to give back to the community, on Wednesday Beyoncé announced that her BeyGOOD foundation is donating $1 million in additional funds from her own pocket to help support small Black-owned businesses in conjunction with the NAACP’s initiative to launch the Black-Owned Small Business Impact Fund.
According to an Instagram post by BeyGOOD, the ultimate goal is “to help strengthen small businesses and ensure economic empowerment for Black businesses.” The need for funds has increased exponentially after many a black-owned endeavor struggles through months of lockdowns, only to be hard hit again during the nation-wide protests and riots following the police shootings.
The 24-time Grammy award winner addressed the impact COVID-19 has had on Black Americans during her appearance on theOne World: Together at Home virtual concert in April. “This virus is killing Black people at an alarmingly high rate here in America,” she told viewers, pointing out that Black Americans “disproportionately belong” to essential worker force.
The first 20 grant recipients were announced August 18th with sums of $10,000 were offered to the businesses and the organization will begin accepting applications for round two later this month. For more information on how to apply or donate to the fund, visit the NAACP’s website.