Are you, or someone that you know, a Black owner of a product-based business or interested in becoming one? If so, would you like to have sales generated by the second largest online retailer?
For those who answered “yes,” Amazon has launched the Black Business Accelerator (BBA) program. This initiative formed out of a collaboration with Amazon’s Black Employee Network. Alongside the Network, the Minority Business Development Agency and U.S. Black Chambers Inc. are the strategic partners who will provide training, resources, and advice. Though millions of sellers on Amazon list their products for purchase, this program has been fashioned solely for the benefit of Black-owned businesses. With a $150 million investment over the next four years, BBA plans to educate, promote, and support the brands and products of the participating third-party sellers on Amazon.com. Amazon has also enhanced minority-owned business visibility, in relation to search engine capabilities, allowing customers to easily identify and purchase from certified businesses. Even as a new company, there is an irrefutable opportunity for business growth and product exposure.
Through this initiative, Amazon provides capital to market your products and strengthen your chances of sustainability. Upon acceptance into BBA, you will receive a $500 credit towards operational and start-up costs, $400 in advertising credits for Sponsored Products, and select sellers are eligible for Hello Alice grants in excess of $10,000. In addition, all participants will receive Amazon’s free in-house, product imaging services. With this, participants may elect to send up to 50 products to Amazon’s image studio where skillfully captured images can be utilized for advertisements.
While these financial benefits are significant, funding is not all that BBA affords. Since establishing a new business and creating an online presence can be overwhelming, Amazon will also educate Black business owners by way of mentorship. Each participant will receive an Account Manager for at least one (1) year. Coaching is critical to the development and viability of a business, particularly if you are a new business owner. Bearing that in mind, participants will also have access to Amazon experts and thought leaders who champion small business success.
In light of this, whether you are a Black business owner, interested in selling a product, contemplating a product idea, eager to start a business today, or prepared to apply for Amazon’s BBA, seek legal advice. As a Business and Corporate Law attorney at CGA Law Firm, Jasmine Butler is happy to assist you in determining a suitable entity structure and effectuating its proper formation. She will efficiently and effectively guide you through the certification and BBA application processes.