Across the epidemic, black-owned businesses in the United States have been significantly affected, with shutdowns and revenue rates much worse than non-minority entities in most regions.
According to Meter ‘State of Small Business Report’, More than half of minority-led businesses have reported sales declines during this period, which is 6 percentage points higher than other SMBs, while aNearly two-thirds of black-led businesses, in particular, reported a decline of more than 50% in sales.
With these staggering statistics in mind, Meta is working to provide more support to black-owned brands to increase their performance, and to eliminate ongoing social inequalities as a result of these changes.
Meter’s latest effort on this front is one New series of events To provide insights for black-owned businesses, it has announced participants in a new training and support program for affected SMBs.
Explained by Meta:
Throughout Black History Month, Meta Elevate will launch weekly events with industry experts, small business owners and influential people to inspire and educate black-owned small businesses with a new theme “Black 365”. To continue to support and provide new ways to improve their business beyond February. “
As mentioned, the latest developments in Meta’s efforts to provide more support and training for black-owned SMBs, with both Facebook and Instagram launching various initiatives over the past year to highlight and support these brands.
There is also meta Announcement A group of 10 black-owned businesses who have been selected to participate in a new training program nominated by singers and social workers Ciara.
This will be the business owners Participate in a 6-week marketing mentorship, facilitated by Meta Elevate, while Meta will also provide $ 100,000 advertising credit and creative support so that every business following the mentorship can implement their education.
This is a key area of focus for Meta, where it is most needed to allocate business support and reduce the complex effects of social inequality. Meta, through Facebook and Instagram, has made a strong commitment to provide more support for minority-owned businesses, and this latest initiative is another step in working to address growing concerns, empowering all business owners to maximize their opportunities equally.
Meter ‘Black 365’ events will be held throughout February.
