Dive Brief: Massachusetts Governor Maura Healey opted not to utilize the Nationa …
SheaMoisture has unveiled a relief fund of $1 million
The COVID-19 global pandemic is having unprecedented effects on organizations. They are being forced to adapt to a fully remote work environment, and leaders are having to make unexpected changes. Organizations are now navigating through uncharted territory in managing their employees, leading to many challenges. Companies that rely on China for supplies are experiencing disruptions in their supply chain. The long-term impacts of the virus are still uncertain, but there are already noticeable trends such as a decrease in consumer spending. Both large and small businesses are being severely affected by COVID-19, with some CEOs giving up their salaries to avoid layoffs. While larger companies in the United States may receive financial assistance from the government, many small businesses are struggling to survive.
SheaMoisture recently unveiled a $1 million relief fund as a support system for women entrepreneurs and small business owners of color who are facing uncertainty during these times. Utilizing their long-standing Community Commerce program, SheaMoisture is determined to assist business owners who have been greatly affected by the COVID-19 pandemic. A portion of the proceeds from each purchase will go towards enhancing educational opportunities, accessibility, and financial aid for small business owners of color. In their announcement, SheaMoisture outlined how they plan to aid these business owners during this challenging period. The funds will be allocated to minority-owned businesses that have come up with innovative approaches to connect with their customers and communities. Furthermore, SheaMoisture will offer valuable learning resources through the Women of Color Businesses E-Lab, presenting online tools for education and growth.
SheaMoisture is actively encouraging business owners of color to submit their applications now and throughout the month of April. They plan to select ten business owners and grant each of them $10,000. Additionally, they will be offering support specifically for Black-owned businesses throughout April as part of their COVID-19 relief efforts. Unfortunately, the pandemic has added an extra burden for Black business owners who already face unique challenges in terms of access and funding. Historically, communities of color are the most affected during economic downturns.
The support provided by SheaMoisture can make a significant difference in saving these businesses from sinking. They will partner with We Buy Black to distribute the relief funds. The CEO of SheaMoisture’s parent company, Sundial, Cara Sabin, emphasized the importance of supporting small businesses during these unprecedented times. As a former small business themselves, SheaMoisture is committed to giving back to the communities that have contributed to their success. Sabin’s statement serves as a powerful example of how we can support one another during difficult and disastrous times. Although the negative effects of COVID-19 are widespread, the love and support we can offer each other are even greater.