Last week, the NAACP announced the next iteration of the Backing the B.A.R. (Business Accounts & Retailers) Acceleration Grant Program sponsored by Bacardi U.S.A. offering $100,000 in grants to the industry.
First launched to increase support of black-owned bars, restaurants, nightclubs, lounges, liquor stores and small businesses in the process of applying for a liquor license, the program aims to support the underrepresented in the hospitality industry, NAACP states. The program has evolved to expand its support to providing grants to a broader range of underrepresented minorities as a show of continued commitment to the industry.
Supporting Underrepresented Minority Businesses
Backing the B.A.R. will provide critical support to 10 businesses from underrepresented minorities in the hospitality sectors, with $10,000 grants along with access to valuable resources such as mentorship, tools and networks, according to NAACP.
“The NAACP is excited to open the third round of the Backing the B.A.R. program” said Yumeka Rushing, NAACP Chief Strategy Officer, in a news release. “By investing in diverse businesses, we not only drive economic growth but also foster a more inclusive and equitable business landscape.”
The grant application will remain open for six weeks and is available to any underrepresented minority business owners who possess or are currently seeking a liquor license, NAACP states. Ideal grant recipients include those who are looking for support in accelerating their business for the future.
The Backing the B.A.R. initiative will award more than $100,000 in acceleration grants, education, support and entrepreneurship solutions for minority-owned bars, restaurants, nightclubs, lounges, liquor stores and small businesses who need financial, educational or mentorship support.
Empowering the Industry
“Love for our brands is built in bars and restaurants and we are firmly committed to supporting the industry and the spaces that bring people together in moments that matter,” said Tony Latham, Regional President, Bacardi North America, in the release. “Through the Backing the B.A.R. program, Bacardi and the NAACP are committed to empowering underrepresented entrepreneurs and creating more opportunities for them to succeed in the industry.”
The program is designed to fuel the growth and resilience of minority-owned businesses, driving economic empowerment and creating lasting impact within the industry.
