The month-long #yesphx Summer Social for Good fundraiser, hosted by Local First Arizona, StartupAZ Foundation, ThrivePHX, and #yesphx, raised a total of $24,690 for struggling small businesses in Arizona.
The local entrepreneurial community usually comes together every July for the Summer Social, but due to Covid-19 and the financial hardships many businesses are facing, this year it was replaced by a one-month fundraiser.
“In a time of such uncertainty, it is so encouraging to see local partnerships and our generous mindset come together to provide for our fellow entrepreneurs and small business owners in need,” said Kate Rogers, executive director of ThrivePHX.
A total of $12,345 was donated by locals from the startup and entrepreneurial community, which was matched by the Arizona Lottery. All of the money raised was given to Local First Arizona’s Small Business Relief Fund.
With Covid-19 and the subsequent shutdowns forcing many small businesses to close, the Small Business Relief Fund aims to help the most vulnerable businesses in Arizona survive. The businesses it targets are family-owned and have fewer than four employees and less than $250,000 in annual revenue.
The Small Business Relief Fund has already helped more than 600 of Arizona’s smallest businesses, including local, family-owned restaurants, daycares and barbershops. With the additional $24, 690 raised in July, more Arizona small businesses will receive the help they desperately need to weather the current storm.
“Small businesses are vital to our local ecosystems, and through no fault of their own, they are hurting right now. I’m very proud to see our local business community rally together and give them the boost they need,” said Brandon Clarke, CEO of StartupAZ Foundation.
While the end of July brought an end to the #yesphx Summer Social for Good fundraising event, the Small Business Relief Fund is still accepting donations to continue to support Arizona small businesses.
“We’ve had an overwhelmingly positive response to the Small Business Relief Fund, both in terms of the generosity of donors and the locally-owned businesses that received grants across Arizona,” said Thomas Barr, executive director for Local First Arizona. “The #yesphx community understands the challenges in gaining access to critical capital as an entrepreneur. And during a pandemic, you can bet it’s twice as hard. With their help, they’ve not only helped support our local economy but invested in the dreams of small business owners like them who had no other avenue for relief.”
To donate to the SBRF, visit https://www.localfirstaz.com/yesphx.
