Square has introduced a business accelerator program aimed at providing Black and Latino retail entrepreneurs with funding, mentorship, and coaching.
The payments firm is collaborating with the Social Change Fund United and notable entrepreneurs such as Dwyane Wade, Rosario Dawson, and Ayesha Curry for the Forward program. Square highlights that Black and Latino Americans are starting more businesses than any other demographic, yet they encounter systemic challenges that hinder their long-term success, leading to higher closure rates.
Forward will support 25 early-stage businesses by granting each $20,000 in funding and offering exclusive training developed in partnership with 1863 Ventures. Training topics will cover areas such as leadership, customer development, scaling operations, and managing financial growth.
Participants of the inaugural cohort will receive Square checking and savings accounts, access to Square hardware, attend mentor masterclasses, and engage with coaches to address their specific business needs.
To learn more about payments innovation, register for NextGen Nordics taking place on 25 April 2023.