Montgomery County announced that it has collaborated with M&T Bank to establish a Small Business Accelerator Program to aid minority business owners.
The Montgomery County Office of Human Rights and M&T Bank announced this week that they will partner to host a new 10-week business accelerator program to small businesses based in the county.
The program, set to begin January 11, 2022, will be free for participants and will feature business mentors, coaches and subject matter experts.
According to a Montgomery County press release:
The program will teach early-stage and minority entrepreneurs the essentials of business planning, operations, credit building, digital communication, financial management and more.
“Only about half of new businesses survive past five years and about eight out of 10 black owned businesses fail within their first 18 months,” said County Executive Marc Elrich. “In order to address these inequities and assist in building minority ownership and wealth throughout the County, we must do better. We are thankful to M&T Bank for this partnership with our Office of Human Rights. This program will help entrepreneurs, especially those who are traditionally underserved, reach new heights and access important resources. I encourage small business owners to apply for this exciting opportunity.”
To be eligible businesses must be:
- Based in Montgomery County;
- In business for at least two years;
- Generating revenue; and
- In good standing with the County and state licensing departments.
- Note that businesses that don’t meet eligibility requirements may apply but must include a compelling reason why they should be considered.
Business owners interested in participating in the Small Business Accelerator Program can apply on M&T Bank’s website. The deadline to apply is November 19.