Earlier this year, a total of 29 Black, Indigenous and people of color micro-manufacturers received up to $25,000 in grant funds they can use to help them grow their businesses. Micro-manufacturing is the creation of products in small quantities, often using smaller manufacturing facilities. According to the U.S. Small Business Administration, about 11% of Arizona small businesses are minority owned.
Entrepreneurship is one way that people can create financial prosperity for themselves and their families. Recognizing that gap, the City of Tempe set aside $300,000 and partnered with Rep. Greg Stanton to secure $500,000 in federal funding. This $800,000 fund is providing up to $25,000 stipends to BIPOC-owned businesses that they can use for rent, supplies, tools, anything they need to succeed.
The funding was dispersed by six organizations: FABRIC Tempe, the Tempe Chamber of Commerce, Hustle PHX, Pacific Southwest Minority Supplier Development Council, Rail CDC and State of Black Arizona. Grant recipients received a Tempe Chamber of Commerce membership and assistance with Minority Business Enterprise (MBE) certification.
