Partnering with Aprio, UPS, and Truist Small Business Banking to Enhance Accessibility to Small Business Resources and Capital.
Small businesses are the backbone of our economy, yet many struggle to survive in their early years. Industry data shows that 20% of small businesses fail within the first year, 30% by the second year, 50% by the fifth year, and a staggering 70% by the tenth year. These statistics are even more concerning for BIPOC (Black, Indigenous, and People of Color) and women-owned businesses, which, on average, have a truncated lifespan of just 3.5 years.
This is a statistic that United Way of Greater Atlanta, in partnership with Aprio, The UPS Foundation, and Truist Small Business Banking, is committed to changing. After several months of collaboration, we are proud to announce the launch of the Building Resilient Entrepreneurs (BRE) pilot program. This innovative program aims to bridge the gaps underrepresented small businesses face in establishing, growing, and scaling their enterprises.
Patrick Smith, Community Relations Regional Manager at UPS Foundation, states, “UPS and The UPS Foundation are committed to empowering diverse entrepreneurs. The Building Resilient Entrepreneurs program aligns perfectly with our mission to support small businesses and foster economic growth.”
The BRE program is designed to provide underrepresented small business owners with access to best practices that can be directly implemented in their businesses. In addition, participants will receive access to capital through an emergency savings match and other incentives. Michele Blondheim, VP of Corporate Social Responsibility and Executive Director of the Aprio Foundation, shares, “We are honored to join forces with United Way of Greater Atlanta on the Building Resilient Entrepreneurs program. Drawing on our deep industry knowledge and strategic solutions, we are committed to fostering meaningful change by empowering underrepresented small businesses. This initiative reflects our dedication to advancing diversity, equity, inclusion, and belonging, and aligns with our broader mission to drive sustainable and inclusive growth within the community.”
Participants will also have the chance to connect and build relationships with United Way of Greater Atlanta partners and stakeholders who are experts in finance, technology, marketing, sales, product development, and more.
The inaugural cohort of Building Resilient Entrepreneurs launched this September and features 15 small businesses and entrepreneurs from across the Greater Atlanta region. Throughout the six-month program, participants will contribute to their emergency savings and be eligible for a 1:1 savings match up to $1,500, potentially increasing their emergency savings fund to $3,000. At the end of the program, BRE members will have the opportunity to access additional capital through the Spark Prize Pitch Competition, which will provide awards up to $7,500.
Over the next six months, United Way of Greater Atlanta and our partners will be spotlighting the businesses participating in Building Resilient Entrepreneurs. These spotlights will include more information about each business, ways we as a Greater Atlanta community can support their growth, and the impact that the BRE program has had on their development.
