Building opportunities with Amazon’s Black Business Accelerator
July 22, 2021
Amazon is actively working to help build sustainable equity and growth for Black-owned businesses by targeting the barriers to access, opportunity, and advancement created by systematic racism across America. Amazon’s Black Business Accelerator (BBA) provides dedicated resources to support the growth, success, and prosperity of Black business owners and entrepreneurs through financial assistance, business education and mentorship, and marketing and promotional support.
Kanda Chocolates is a brand of Sage & Alms, which is a Black-owned, woman-owned benefit corporation, and a BBA participant.
Balancing an imbalance
According to the US Census Bureau, only 6 percent of US retail businesses are Black owned, despite the fact that Black Americans represent 14 percent of the US adult population. In addition to being heavily underrepresented in retail, Black-owned businesses have also been disproportionately affected by the COVID-19 pandemic. The BBA program aims to combat these societal barriers.
What does this mean for you as an Amazon Advertising client and Black business owner?
- To start, all selling partners enrolled in BBA are eligible for at least one year of free strategic advisory services from Amazon’s skilled account management team. This one-on-one strategic support includes coaching, training, and insights to help bring your business to the next level. Account managers can help with in-depth conversations on topics like product listings, sponsored ads, and Fulfillment By Amazon.
- The BBA program also connects participants together with a network of business mentors, from Amazon experts to small-business thought leaders, to continue accelerating business growth.
- Lack of access to capital is also a prevalent issue for Black business owners. BBA participants can access services and grants to help jump-start business growth and customer acquisition. Opportunities include Amazon credits and services valued at $3,900 that include free product imaging services and advertising credits. We’ve also collaborated with Hello Alice to launch an initial round of $10,000 cash grants to help stabilize and support Black-owned businesses. Applications are open, and details can be found at hialice.co/amazon.
In addition to the advertising credits, BBA participants receive individualized attention on how to choose advertising products and how to optimize targeting, bids, and budgets. Our team of advertising experts reach out to participants through monthly emails or phone calls to work through strategic planning.