BLACK BUSINESS ACCELERATOR
program OVERVIEW
Applications are currently being accepted.
Central Virginia African American Foundation’s BBAP program is a commitment to six sessions on Wednesday evenings from 7:00PM – 8:30PM. Specific dates are provided in the application link.
The program ends with a culminating certificate awarding and networking session.
Click to Apply
Empowering Black Businesses in Central Virginia
The majority of African American entrepreneurs are first generation business owners. They do not have the legacy or relationships of a dad, uncle, or grandpa who started a business and passed business knowledge and clients along.
The Black Business Accelerator Program goal is to help propel African American businesses to a level in which they can compete and perform equally with majority businesses that have stronger roots and relationships.
To succeed in growing, entrepreneurs must have a business that shows stability and growth on a spreadsheet and is operationally fine-tuned.
The majority of African American entrepreneurs are first generation business owners. They do not have the legacy or relationships of a dad, uncle, or grandpa who started a business and passed business knowledge and clients along.
The Black Business Accelerator Program goal is to help propel African American businesses to a level in which they can compete and perform equally with majority businesses that have stronger roots and relationships.
To succeed in growing, entrepreneurs must have a business that shows stability and growth on a spreadsheet and is operationally fine-tuned.
WHO IS THE PROGRAM DESIGNED FOR?
Hold a business license from a city or county located in the Richmond Richmond Metropolitan Statistical Area (MSA)
Have been in business at least 2 years
Desire to increase the number of employees
Has a vision to grow the business
Agree to annually report the number of employees and gross revenues to a CPA for the purpose of tracking program results
WHAT WILL THE PROGRAM DO?
PROVIDE SOLUTIONS TO DEFICITS
Black businesses’ ability to win contracts and other non-competitive business is often a result of inadequate legal and financial preparation of its company’s records. The CVACC Black Business Accelerator Program will ensure that all participating businesses are set up and receive ongoing guidance in best business practices for their industry.
INCREASE PARTICIPANTS’ “C-SUITE” CONTACTS
It is well known that people do business with people they know and have a relationship. Most African American business owners do not regularly connect with white corporate executives in their social, church, or high school or college sports environment. Close relationships with key decision makers often do not exist. Therefore, they are not top of mind or in the favorites contact list to be called or emailed when business opportunities arise. The Accelerator Program will provide structured opportunities for interaction.
RELATIONSHIP BUILDING
- Industry specific
- Corporate executives
- Purchasing executives
- Industry leaders
- Banking
- Chamber/Association leaders
WHAT WILL YOU RECEIVE?
The Black Business Accelerator program is a $300 investment. Only serious business owners should apply as the tuition is completely covered by sponsorship, however, a time commitment is required to attend class sessions, complete assignments to progress in business, and receive an end of course accelerated certificate.
With registration tuition you will also receive:
- 6 class sessions over a 3 month period taught by industry leaders
- In person or virtual, small group courses centered around a key growth topic
- A BBAP Executive Tool Kit with strong business resources and hands-on tools ($450 value)
- Access to the BBAP private course webpage with “On Track” accountability assignments
- Business sources and connections for real world application
PROGRAM SCHEDULE
In-Person OR Virtual
Receive all the benefits of In-Person instruction OR participate via Video Conferencing
Completing the course study as a 3 month program will provide the maximum opportunity to build knowledge, relationships with corporate executives, and fellow African American business owners.
The course is offered as a full 3 month program.
2 Classes per month – Live and virtual instruction offered – Maximum 10 in-person and 10 virtual participants per class
- 2 Wednesdays each month – 7:00PM – 8:30PM
- Off weeks are designed for participants to implement learned strategies
Participants are screened and final selection confirmed after determining whether the business has significant growth potential.
PROGRAM TUITION
The Black Business Accelerator Program receives sponsorship from Henrico Economic Development, Chesterfield Economic Development, and the Virginia State University Center for Entrepreneurship, enabling us to offer a low tuition fee of $300 for the full course.
Participants in the program have the choice to pay the tuition in full or opt for a two-payment plan, with the full payment due before the course’s first day.
Upon the assessment and approval of applications, selected participants will be sent an email containing guidelines for submitting the course tuition. It’s important to be aware that our course has limited availability.
Please take note that the tuition fee is non-refundable, and a participant’s spot will only be confirmed upon the successful completion of full payment. Even if you have received an acceptance notification, payment must be made before the course reaches maximum capacity in order to secure your participation.
It’s important to emphasize that we are seeking applications only from dedicated and committed business owners.
Join Us in Making a Difference
Become a vital part of our mission to empower Black businesses in Central Virginia. Whether you choose to volunteer your time, attend our impactful events, or contribute financially, your support is crucial. Together, we can create a thriving economic community that uplifts and sustains our local entrepreneurs.