Sage, the leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses, in partnership with The BOSS Network, an online community of professional and entrepreneurial women, announce the launch of the Sage Invest in Progress grant to support Black women entrepreneurs in their first five years of business.
The goal is to help remove barriers to capital that many entrepreneurs—especially women entrepreneurs in the Black community—disproportionally face when starting a business. The Sage Invest in Progress Grant will award $10,000 in funding to 25 Black women entrepreneurs to help them successfully grow their business.
Sage Invest in Progress will also include a 12-month program of entrepreneurial mentorship and education, helping grant awardees with coaching, connections, and removing capital barriers to address the disparity gap so that they can have the confidence to reach their full potential.
Each Sage Invest in Progress grant awardee will receive:
- $10,000 USD grant.
- Quarterly business training courses through BOSS University sponsored by Sage, including topics on marketing, finance, customer service, and business strategy.
- Access to The BOSS Network online community.
- Complimentary Sage Business Cloud Accounting software.
“It has been reported that the single greatest barrier to success for new businesses and startups is access to capital—and minorities make up less than 1% of founders that receive that investment. With The BOSS Impact fund, we are working with partners like Sage to address that disparity head on,” said Cameka Smith, founder, The BOSS Network. “The Sage Invest in Progress program will build on the work of The BOSS Network to not only empower Black women entrepreneurs but also arm them with the resources they need to lead successful businesses and increase their market share.”
The Sage Invest in Progress grant is a three-year commitment to support the newly announced BOSS Impact Fund, which is focused on investing in Black women-led businesses and preparing entrepreneurs to build scalable, growth aggressive companies. The goal of the BOSS Impact Fund is to raise investment funding for 500+ Black women entrepreneurs over the next three years.
“At Sage, we have committed to knocking down barriers that foster an advantage for some groups while creating obstacles for others. Capital investment is one area that we’ve recognized as a barrier, particularly for Black businesswomen,” said Aziz Benmalek, interim managing director, Sage North America. “Sage is dedicated to being a part of a cultural shift that will help bring about a business community that is more equitable and sustainable for all.”
To apply or for more information, visit BOSSImpactFund.com. The grant application process is powered by HelloAlice, a grant-funding platform designed for entrepreneurs and small businesses. The application window opens January 26, 9 a.m. ET, and closes February 25, 5 p.m. ET. Grant awardees will be announced in late March.
