M&T Bank has joined with the county’s Office of Human Rights to offer a new business accelerator program to early-stage and minority entrepreneurs, officials announced.
The 10-week program will teach business planning, operations, credit building, digital communication and financial management, among other topics.
“Only about half of new businesses survive past five years and about eight out of 10 black owned businesses fail within their first 18 months,” said County Executive Marc Elrich in a press release. “In order to address these inequities and assist in building minority ownership and wealth throughout the county, we must do better. This program will help entrepreneurs, especially those who are traditionally underserved, reach new heights and access important resources.”
To be eligible for the program, businesses must be:
- Based in Montgomery County
- In business for at least two years
- Generating revenue, and
- In good standing with the county and state licensing departments.
Businesses that aren’t eligible can still apply, but must include “a compelling reason why they should be considered,” according to the release.
The deadline to apply is Nov. 19 and may be completed online. Enrollment is based on a competitive application process, and the program will begin Jan. 11.
Graphic from pxfuel.com published with permission