FedEx allocates $300,000 to U.S. small businesses
The resources are part of a grant program for business owners with disabilities or military veterans.
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FedEx Entrepreneur Fund, the philanthropic arm of the global shipping and e-commerce company, in partnership with Hello Alice and the Global Entrepreneurship Network, recently announced the 30 grantees of its new initiative to offer small businesses owned by people with disabilities or veterans resources and networks so they can grow their businesses.
$10,000 will be given to each of the lucky companies that were selected from more than 12,500 applicants, where 57% are part of firms related to the army and 40% represent businessmen with disabilities.
Jenny Robertson, senior vice president of Integrated Marketing and Communications at FedEx Services, stated:
We are excited and honored to offer this opportunity to veteran entrepreneurs and small business owners with disabilities.
Thus, the percentages were established among other diverse communities that applied:
- Women-owned businesses 62%
- African-American businesses 65%
- Multiracial Businesses 10.6%
- Hispanic/Latino Businesses 5.5%
In addition to identifying as a military-related business owner or entrepreneur with disabilities, all 30 recipients have fewer than 25 employees, earned no more than $7 million in annual gross receipts in 2021, and clearly demonstrated how the resources will help support their businesses and clients.
“As an enthusiastic advocate for small businesses, FedEx is always looking for new ways to support entrepreneurs in different industries with a range of missions and backgrounds. Collaborations with Hello Alice and GEN allow us to continue to help these small businesses grow and succeed,” added Robertson.
For her part, Carolyn Rodz, CEO of Hello Alice, pointed out: “As there is continued strain on small businesses from diverse backgrounds to access capital and resources, we are pleased to play a role in bringing them one step closer to their goals and to overcome these barriers.”
Grant recipients will be honored November 14-20 as part of Global Entrepreneurship Week, a movement led by GEN with the support of FedEx.
All grant applicants receive free access to Hello Alice's platform full of tools and resources, events for small business owners, workshops, Q&As, and fireside chats. To see the full list of recipients and their companies, click here.