Black women small business owners could be among those that could gain $5,000 in grants to help them become the next generation of entrepreneurs.
Applications for the Yummy Extensions x Yummie O. 2023 Women in Business Grant are now open to 10 women-owned businesses. Worth a combined $50,000, the grants are being provided by hair entrepreneur Yummie O., the owner and founder of Yummy Extensions and KOSA Professionals.
Criteria for the grants can be found here. Applications close on March 30, so potential applicants may do well to apply soon. The grants are too being offered to help celebrate March as Women’s History Month.
According to a news release and information provided to BLACK ENTERPRISE, Yummie O. is a former IT consultant who started the Dallas-based Yummy Extensions in 2013 with $2,000 and built it into a multi-million hair extensions brand. Its sister company, KOSA Professionals, is a hair-styling tool brand.
“The groundwork for everything I do is to be a catalyst for change and empowerment — especially among women. It’s not a secret that we are natural-born leaders and when we support one another the sky’s the limit,” Yummie O. stated. “Through this grant, I aim to pay it forward not only for the next generation of entrepreneurs but also the businesses grounded in excellence, innovation and diversity.”
The initiative is aimed to motivate and inspire women to achieve the goals they have for themselves and their businesses — no matter how big or small. Last year, the Women in Business grant awarded a total of $50,000 to 10 women-owned businesses, They included The Luxe Library, Holy Rollie Pastry Shop, Shea BODYWORKS, Ajilla Foundation, and others.
The fresh program could prove beneficial. Businesses owned by women of color — including Black women — remain on the nation’s fastest -growing group of entrepreneurs.
However, raising capital is still often a tough challenge for women entrepreneurs attempting to gain funding to launch new businesses or expand existing ones.
