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via YouTube/Beyoncé

Beyoncé launches a fund to provide grants for Black-owned businesses

The fund, set up through the singer’s BeyGood foundation, has been launched in collaboration with the NAACP

Beyoncé has launched a new fund via her BeyGood foundation, in collaboration with the NAACP, which aims to provide grants to Black business owners in several cities across the US.

A statement posted to the NAACP website points to “the pandemic and outpours for justice throughout the Black community and across the country” as reasons for the scheme, adding that their effects “(have) been felt in every imaginable area of our lives, including in how our local businesses continue to operate”.

“The challenges of Black business owners navigating in the climate cannot be understated,” the statement continues, “as the effects of uprisings across the nation have led to many businesses being placed in dire straits due to damages and other small business needs.”

The fund will offer $10,000 grants to Black-owned small businesses in Houston, Atlanta, New York, Los Angeles, and Minneapolis, as long as they can provide property damage or replacement estimates.

Previously, BeyGood has donated $6 million to help essential workers amid the coronavirus pandemic. Through the foundation, Beyoncé has also raised awareness of the campaigns to seek justice for George Floyd and Breonna Taylor.