In a significant move to support Black-owned businesses, eBay has awarded $10,000 grants to several entrepreneurs as part of its Up & Running Grants program. This initiative, now in its fifth year, aims to empower small business owners by providing them with the necessary resources to grow and thrive in a competitive marketplace.
Overview of the grant program
In late September, eBay announced the recipients of its latest grant cycle, selecting 50 sellers from a staggering 18,000 applications submitted across 28 states. This year marked the largest and most diverse pool of applicants to date, highlighting the growing entrepreneurial spirit within the Black community and beyond.
The total funding awarded this year reached $500,000, with each selected business receiving not only financial support but also training and mentorship to help them navigate the complexities of running a business. Additionally, finalists were given a $500 stipend to invest in essential business technology and tools from eBay Refurbished, further enhancing their operational capabilities.
eBay’s commitment to small businesses
Since its inception in 1995, eBay has been a staunch advocate for small businesses, boasting 132 million active buyers and operating in over 190 markets worldwide. In the previous year alone, the platform facilitated a gross merchandise volume of $73 billion. Dawn Block, eBay’s VP and U.S. General Manager, emphasized the company’s dedication to empowering small business owners. This year, the program saw a 19% increase in early-stage entrepreneurs compared to the previous year, showcasing a vibrant and dynamic entrepreneurial landscape.
Impact on Black entrepreneurs
While eBay did not disclose the exact number of Black businesses that received grants, several entrepreneurs shared their plans for utilizing the funds. Walter Roberts, owner of The Buying Spot, which specializes in consumer electronics and sporting goods, expressed his gratitude for the opportunity. He plans to invest in new equipment, make bulk purchases and attend the eBay conference for resellers.
Rickie Miller, the founder of Kris Kross Wigs, highlighted the social impact of the grant. Her business focuses on providing wigs for a diverse clientele, and she intends to use the funding to employ women from homeless shelters, train them and invest in wholesale materials to make her products more affordable.
Jonathan Copeland of Vino Club Village, which sells a variety of products including sports memorabilia and clothing, also shared his vision for growth. He plans to use the grant to invest in high-quality products and enhance the customer experience.
The eBay Up & Running Grants program is a testament to the platform’s commitment to fostering entrepreneurship among Black business owners. By providing financial support and resources, eBay is playing a crucial role in helping these entrepreneurs not only survive but thrive in a competitive marketplace. As more Black-owned businesses gain access to such opportunities, the potential for economic empowerment and community development continues to grow.
For more details about eBay and the grant recipients, you can click here.
