Famous Amos begins national search to award three early-stage entrepreneurs with $150,000

In its fourth year, the Famous Amos Ingredients for Success Entrepreneurs Initiative helps Black small businesses excel long-term


WASHINGTON (July 1, 2024) – On June 24th, Ferrero North America, in partnership with the U.S. Black Chambers, Inc., announced its 2024 Famous Amos Ingredients for Success Entrepreneurs Initiative, an annual national program in its fourth year that provides a capital award, resources and mentorship services to Black early-stage businesses. The program invites eligible start-up businesses to apply for the opportunity to receive a $50,000 award on the website FamousAmosIngredientsForSuccess.com through August 4, 2024.


Eligible businesses must be at minimum 90% Black-owned, in business for five years or less, and headquartered in the United States.  The businesses must be owned by individuals 21 years or older. To be considered, applicants must submit a 90-120 second pitch video that explains why they should receive the $50,000 award for their business. This year’s winners and finalists will join an established network of entrepreneurs who have grown their businesses with the help of the program.

“Ferrero North America and Famous Amos continue to support the Ingredients for Success program in its fourth year to honor the legacy of Wally Amos,” said Rachna Patel, Vice President of Marketing for Famous Amos. “The purpose of Ingredients for Success is to help Black-owned businesses grow and ensure they are equipped with resources that lead to long-term success. We look forward to continuing to make an equitable impact on the Black business community with the help of our partner this year, the U.S. Black Chambers, Inc.”


The U.S. Black Chambers, Inc. will serve as the community partner of Famous Amos in the fourth year of the Ingredients for Success Entrepreneurs Initiative. The partner’s support for the program includes a range of services designed to assist entrepreneurs, including workshops, mentor pairing, educational resources and more.


“The U.S. Black Chambers is proud to bring our vast experience in supporting and uplifting Black business – from advocacy to mentorship – to the Famous Amos Ingredients for Success network,” said Ron Busby Sr., President and CEO of the U.S. Black Chambers, Inc. “Ingredients for Success has impacted nearly 10,000 entrepreneurs so far with its mission to reach and empower start-up Black businesses. As the National Voice of Black Business, we are committed to providing even more Black business owners with the benefits of the program and access to additional resources and support so that this strong community of leaders has everything they need to reach their potential.”


At the close of this fourth program cycle, three grand-prize winners will be selected by a panel of renowned Black entrepreneurs including Steve Canal, Grant Warner, and Kendra Bracken-Ferguson to receive an award of $50,000 in capital business funds, wrap-around business resources and services, as well as publicity. There have been three previous program cycles since 2021, so far awarding $450,000 to a total of nine winners. Each year, the program receives more than 2,000 applications for review and consideration.


For more information, please visit FamousAmosIngredientsForSuccess.com.

 
 

Learn About ByBlack Certification in Verizon's Small Business Digital Ready Program Contracting Module!

We are excited to announce that the Verizon Small Business Digital Ready program has updated its Contracting Module to include the ByBlack 'Black Owned' Certification, powered by U.S. Black Chambers, Inc. Small business owners can now learn about ByBlack and other national certifications to unlock new contracting opportunities. Special thanks to Verizon for being a longstanding partner of the USBC and a corporate supporter of the ByBlack initiative, using it as a tool for supplier sourcing and supply chain diversification.
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Boost your Black-owned business visibility with the ByBlack Platform, powered by U.S. Black Chambers, Inc. and presented by American Express. Enjoy a no-cost certification and get listed in the National Black Business Directory to connect with new customers & business opportunities.


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Grant Opportunity Opened April 22, 2024!
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    Running a small business can be challenging in the best of times, but the pandemic has brought unique challenges that many small businesses hadn’t planned for, further complicating matters.  It’s more important than ever before for small business owners to take advantage of all the opportunities and resources available to them.

    The US Small Business Administration (SBA), a federal agency, utilizes a resource partner network to deliver free one-on-one mentoring to small businesses across the country. SCORE, Counselors to America’s Small Business, is one of the SBA’s key resource partners offering personal assistance on a variety of business topics including: business planning, human resources, recordkeeping, financing, marketing and more. SCORE is an all-volunteer organization comprised of both retired and career-active individuals who give back to their communities by sharing their knowledge and expertise with local entrepreneurs. All counseling services are free and training sessions are either free or low-cost.

    Maryland is fortunate to have a talented and dedicated team of SCORE mentors serving all counties in the state. There are four regional SCORE Chapters in Maryland offering a combination of in-person, virtual and phone counseling. Chapters are based in Baltimore, Frederick, Annapolis and Chestertown.

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    For more information about starting or operating a small business and to find a mentor near you, visit sba.gov or score.org. To learn about COVID-19 relief options for small business, including the SBA’s Economic Injury Disaster Loan (EIDL), visit sba.gov/disaster.

     

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    The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more visit www.sba.gov.

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    Has Your Business Been Impacted by COVID-19?

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    Miles & Stockbridge Black Business and Startup Initiative (https://www.mslaw.com/black-business-start-up-initiative)

    • Miles & Stockbridge is offering a new initiative that will provide pro bono legal support to Black owned businesses in a range of areas, including review of corporate and other organization documents, review of commercial contracts, review of leases and lease negotiation support, assistance with web site policies, assistance with legal issues relating to loans and other financing.  
    • To qualify for assistance, businesses must meet the following criteria:
      • 50% of business owners are Black entrepreneurs
      • Fewer than 10 employees
      • Under $500,000 in annual revenue
      • Been in business for less than 5 years
    • To request assistance, businesses should email MilesBBI@mslaw.com to request an intake. And for more info visit:
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