Columbia, South Carolina – In a bid to tackle the economic inequalities that minority-owned businesses often face, the Midlands Minority Business Accelerator (MMBA) program is reminding those interested in its upcoming class to file applications. Under the direction of the Greenville Chamber, Charleston Metro Chamber, and the Columbia Chamber, this effort has great potential to influence the business environment in South Carolina.
Minority business owners who fit the program’s requirements can still apply to join the MMVA Class of 2025 since the deadline to submit applications is set for October 31, 2024, by 5:00 PM. This allows future participants enough time to be ready and guarantee they satisfy eligibility criteria.
The MMVA program is not only another corporate endeavor. Designed to give minority business owners a wealth of tools—including customized mentoring from industry leaders, networking possibilities, and possible access to capital—this 12-month program is comprehensive and makes sure to help attendees. The program’s ultimate objective is to increase participants’ market competitiveness, therefore supporting more general economic growth.
Businesses must be at least 51% owned, run, and controlled by persons from racial, cultural, or ethnic minority groups in order to qualify for the MMBA. This covers companies run by women and veterans as well. Apart from the owner, candidates also have to be small enterprises with minimum annual income of $200K and should have at least one full-time equivalent (FTE) employee. It is also essential that the businesses have been operational for at least three years as of the application date.
Bank of America has been very supportive of this project; it gave a seed grant to start the program. This money emphasizes the dedication of the public and private sectors to create an inclusive economy in which different companies may grow.
Entrepreneurs who would want to apply or want further information are advised to get in touch with Naomi Walton at the Columbia Chamber at 803.733.1113 or visit their website. The program representatives are ready to assist with any queries related to the application process or the program itself.
The MMBA represents a crucial step towards bridging the gap between minority-owned businesses and their potential. Empowering these business owners helps the program not only support individual companies but also significantly boosts the local and state economy. This project offers evidence of the ability of group actions to propel economic transformation and growth in South Carolina.
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