Visa Partners with Black Girl Ventures to Digitally Enable Black and Women-Owned Small Businesses across the United States

As Black History Month (February) leads into Women’s History Month (March), Visa (NYSE:V) today announced a new locally-focused program to help digitally enable Black-owned small businesses, with an emphasis on those owned by Black women. Addressing the needs of local entrepreneurs in cities with the highest concentration of Black-owned businesses in the U.S.¹ – Atlanta, Chicago, Detroit, Los Angeles, Miami and Washington, D.C.—the programming will consist of grants and mentorship, new educational and technology resources plus direct community relationships in partnership with Black Girl Ventures.

“The pandemic has impacted all small businesses – but those run by women and people of color have been disproportionately affected,” said Kimberly Lawrence, head of U.S., Visa. “With this hyperlocal focus on some of the hardest hit cities, Visa aims to make a meaningful difference, quickly, for the communities and their business owners who need it most.”

Black-owned businesses play a critical role in communities across the country, with more than a third headed by women – the highest share of any racial or ethnic group. According to Visa’s Black Women-Owned Business Report², nearly three quarters (71%) of Black-women owned businesses surveyed across the U.S. estimate they cannot survive another year under current pandemic conditions. Building on the support Visa provides women-owned small businesses through its She’s Next program, this new effort brings resources and expertise to provide entrepreneurs with tailored solutions for each city. Specifics of the program include:

• The Visa She’s Next Grant Program: Visa is committing an additional $1 million to extend its grant contest and mentorship program to Black women entrepreneurs in six U.S. cities, with grant applications opening today, ahead of International Women’s Day on March 8.
• Mainstream Marketing and Awareness: Through a multi-million dollar marketing campaign, Visa will encourage consumers to support Black and women entrepreneurs, in an effort to help drive business to small businesses. The six-city social, digital, OOH, mass transit and radio campaigns will run throughout 2021.
• Local Experts and Resources: Through a new partnership with Black Girl Ventures, Visa will work with local organizations and influencers to reach small businesses, identify their most pressing technological needs and provide them with access to the products and education they need to help them thrive.

“Black Girl Ventures is proud to partner with Visa to assist these entrepreneurs and provide a megaphone to each community’s most pressing needs,” said Shelly Bell, founder, Black Girl Ventures. “While the Black Lives Matter movement elevated consumer support of these businesses, the movement must continue to lift up these neighborhoods financially and spiritually.”