Square has launched a business accelerator programme designed to provide Black and Latino retail entrepreneurs with funding, mentorship and coaching.
The payments firm is working with the Social Change Fund United and entrepreneurs including Dwyane Wade, Rosario Dawson, and Ayesha Curry on the Forward programme.
Square says that Black and Latino Americans are opening more businesses than any other group, yet they still face systemic barriers to achieving long-term success, which result in higher closure rates.
Forward will support 25 early-stage businesses who will be awarded $20,000 in funding along with exclusive access to trainings developed in partnership with 1863 Ventures. The training topics will range from leadership and customer development to scaling operations and managing financial growth.
Members of the inaugural cohort will receive Square checking and savings accounts, Square hardware, attend mentor masterclasses and work on an individual level with coaches to discuss their unique business needs.
To learn more about payments innovation, register for NextGen Nordics to take place on 25 April 2023.