Miami-Dade Economic Advocacy Trust Launches Grant Program for Start-up Businesses
The county’s Black economic development agency is accepting applications until August 14
Miami-Dade Economic Advocacy Trust Grant Recipients
MIAMI-DADE – Black-owned businesses contend with historic and unique challenges that create barriers to survival. According to a CNBC analysis, eight out of 10 Black-owned businesses fail within the first 18 months. This reality inspired Miami-Dade Economic Advocacy Trust (MDEAT) to launch its MDEAT Business Resource and Educational Grant Program to give start-up entrepreneurs a $2,500 capital infusion and access to technical assistance and resources.
Miami-Dade Economic Advocacy Trust Grant Recipients
The agency is disseminating grants to 24 successful owners of registered for-profit or not-for-profit enterprises operating in Miami-Dade County.
Application Process
The program defines a start-up business as a legal entity operating for at least six months and no more than two years. The program accepts applications until Monday, August 14 at 5 p.m. Applications can be submitted electronically and in person at MDEAT’s main offices at 601 NW 1st Court, Suite 2132, near downtown Miami. Program qualifications and applications are available at www.miamidade.gov/EconomicAdvocacyTrust.
William “Bill” Diggs
“Historic and unique challenges demand historic and unique solutions. MDEAT’s Business Resource and Educational Grant Program created this program to give entrepreneurs cash at a critical time in their development and the needed technical assistance to help them build sustainable enterprises,” said Bill Diggs, MDEAT Executive Director.
Start-up grant brings agency’s investment in Black business to nearly $500,000
MDEAT’s latest developments reflect the organization’s aggressive implementation of its strategic plan to help decrease social-economic disparities in the County’s targeted urban areas. Last year, the agency distributed $5,000 in grants to 16 winners of its Small Minority Black Business Capitalization Grant Program.
Recently, the agency wrote 35 checks for $10,000 to this year’s winner of the Small Minority Black Business Capitalization Grant Program.
MDEAT’s Business Resource and Educational Grant Program brings the agency’s grant investment in Miami-Dade County’s Black business community to $490,000. Winners get a free one-year membership to the Miami-Dade Chamber of Commerce, South Dade Connections, or the Black Professionals Network.
Robert Parson
“There are not many programs that invest in start-up businesses. MDEAT and its Economic Development Action Committee created this grant opportunity to respond to the disparate challenges Black-owned businesses face as they try to access capital and other resources,” said Robert Parson, MDEAT Economic Development Manager. “This program offers emerging entrepreneurs a community of resources and support they can leverage to scale their businesses.”
