Dwyane Wade, Rosario Dawson, Ayesha Curry, and Earn Your Leisure Partner with Square to Launch Forward
16 Marzo 2023 - 2:00PM
Business Wire
Square teams up with the Social Change Fund
United and multi-faceted entrepreneurs including Dwyane Wade,
Rosario Dawson, and Ayesha Curry to launch Forward, a new
accelerator program providing funding, mentorship, and coaching for
Black and Latino entrepreneurs
Today, Square announced the launch of Forward, a business
accelerator program designed to help Black and Latino retail
entrepreneurs obtain the capital, coaching, and products they need
to succeed.
Business owners of color are leading America’s entrepreneurship
boom. More than 5 million new business applications were filed in
2022, and Black and Latino Americans are opening more businesses
than any other group. Despite these successes, Black and Latino
business owners still face systemic barriers to achieving long-term
success, which result in higher closure rates. According to a
recent Square report, the most common challenges faced by Hispanic
businesses is raising capital.
To provide more access to resources and address these barriers,
Forward will support 25 early-stage businesses who will be awarded
$20,000 in funding along with exclusive access to trainings
developed in partnership with 1863 Ventures, a
recognized leader in providing culturally competent business
curricula. The training topics will range from leadership and
customer development to scaling operations and managing financial
growth.
Members of the inaugural cohort will receive Square checking and
savings accounts, Square hardware, attend intimate mentor
masterclasses and work on an individual level with coaches to
discuss their unique business needs. Program mentors include
actress, activist, designer, and businesswoman Rosario
Dawson, bestselling author and CEO of Sweet July Ayesha
Curry, financial advisors and podcasters Rashad Bilal and
Troy Millings of Earn Your Leisure, and NBA Champion,
entrepreneur and Social Change Fund United (SCFU) co-founder
Dwyane Wade.
“We launched the Social Change Fund United with the goal of
creating a more fair and equitable society in part through economic
investment and efforts to support minority-owned businesses,”
said NBA Champion, entrepreneur and SCFU co-founder Dwyane
Wade. “By partnering with Square today to launch
Forward, we’re meeting those goals and helping to ensure that
entrepreneurs of color have the opportunity to make their business
ideas come to life in a lasting way. As a business owner myself, I
understand how critical it is to have the right tools and
mentorship when getting started.”
“Because Square succeeds when our sellers succeed, we’re fully
invested in providing entrepreneurs of color with the tools they
need to thrive,” said Naomi Wheeless, Global Head of Customer
Success for Square. “At a time when Black and Brown
entrepreneurs are opening more businesses than anyone else, Square
is helping to create a space where great ideas and hard working
sellers can get the support and coaching required to reach the next
level. Forward is the result of a lot of hard work and dedication
from talented employees across the Square organization who are
committed to seeing minority-owned businesses make it past the
start up stage and go on to thrive.”
Square’s recent Future of Commerce Report revealed that revenue
diversification and tech automation are top of mind for businesses
around the country. Square’s ecosystem gives sellers a single,
easy-to-understand home for their entire business, unlocking a
variety of capabilities like accessing loans through Square
Banking, connecting with and staying in touch with customers
through Square Marketing, and managing staff through Team
Management and Square Payroll.
“I’m thankful to have access to Square’s tools to help
streamline operations in my own business, allowing me to focus on
growing the company and evolving the projects I care deeply about,”
said Founder & CEO of Sweet July, Ayesha Curry.
“I’m honored to have the opportunity to work with Square to launch
Forward, and be able to assist deserving entrepreneurs from
underrepresented communities to provide the resources and
mentorship they need to build their businesses and pursue their
passions.”
“Latinos open businesses at a rate about 55% higher than their
white counterparts, and still have a harder time staying in
business and getting the support they need to grow,” said
actress and entrepreneur Rosario Dawson. “By launching Forward
today, we’re eager to help entrepreneurs of color in the retail
sector overcome systemic barriers and make their budding businesses
grow.”
American Express will also support the Forward initiative
through funding and coaching opportunities for program
participants.
Applications for Forward are open now through April 1, 2023. In
order to qualify, retail businesses must be a part of the clothing
& accessories, health & beauty, home goods & furniture,
or food & beverage sectors, based in the U.S., be within the
first three years of operation, and founded by or have a current
CEO who identifies as Black/African American or Latino, among other
requirements. Interested applicants can review the full list of
parameters and submit an application at
www.squareup.com/forward.
In early June, Forward participants will be invited to attend a
capstone event in Miami where they will have the opportunity to
meet like-minded business owners, receive additional support and
celebrate the completion of the Forward program. This event will be
open to the press.
About Square
Square helps sellers more easily run and grow their businesses
with its integrated ecosystem of commerce solutions. Square offers
purpose-built software to run complex restaurant, retail, and
professional services operations, versatile e-commerce tools,
embedded financial services and banking products, buy now, pay
later functionality through Afterpay, staff management and payroll
capabilities, and much more – all of which work together to save
sellers time and effort. Millions of sellers across the globe trust
Square to power their business and help them thrive in the economy.
Square is part of Block, Inc. (NYSE: SQ), a global technology
company with a focus on financial services. For more information,
visit www.squareup.com.
About Social Change Fund United
Social Change Fund United, founded by Carmelo Anthony, Chris
Paul, and Dwyane Wade, was established to invest in and support
organizations focused on empowering communities of color and
advocating for the human rights of all Black lives through the lens
of policy solutions, community representation and narrative change.
Since launch, Social Change Fund United has supported critical and
timely issues impacting the Black community including ending police
brutality and championing criminal justice reform, economic equity,
and voting and civic engagement. All donations are tax-deductible
through Social Change Fund United’s 501(c)(3) fiscal sponsor, the
Entertainment Industry Foundation (EIF). EIF is a Charity Navigator
Four-Star Charity that meets all 20 Better Business Bureau charity
standards and carries the GuideStar Platinum Seal of Transparency.
To learn more about Social Change Fund United, visit
https://www.thesocialchangefund.org/.
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