Chichi Eburu is an entrepreneur who has established Juvia’s Place, a beauty company. She is giving out a grant of $50,000 to six black-owned businesses in the U.S through her business Juvia’s Palace. Women entrepreneurs are encouraged to apply for the grant. The grant is available for those who are in the US and had an annual gross income of less than $250,000 in 2019.
In an interview, Chichi Eburu shares the challenges that she faced when starting her business. She talks about how she had to do all of the marketing and sales for her business herself because she didn’t have any money to hire anyone else. Due to the challenges that she went through, Chichi Eburu vowed to empower other women by providing them with funds so that they can start their own businesses.
Almost 44% of black-owned small business use their own earned money to fund their business as compared to other small business owner in the same market. This is because they have no access or have limited access to financial resources.
Also, small start-ups businesses owned by black women have shown rapid growth rate than their counterparts. As of 2016, statistics have shown an average revenue of $24,000 yearly, while other business have a revenue of around $74,000.
To apply or qualify for the this grant, entrepreneurs must provide personal and business information as well as write a brief essay about the challenges they faced in their business and how they overcame them. The application form can be found on the Juvia’s Place website.