MEMPHIS, Tenn. (Tuesday, 12/13/22) – The Greater Memphis Chamber, in partnership with IKEA U.S. Community Foundation, today announced the winners of five competitive grants for Black-owned businesses in the Greater Memphis region at its 22nd Annual Chairman’s Luncheon.
With an audience of nearly 1,000 Memphis business leaders, the Chamber announced that the following small, local, Black-owned businesses were selected to receive five grants of $5,000 each as part of the national $3 million IKEA Black Business Initiative:
“The only sustainable growth is inclusive growth, and that’s especially true in Memphis, which has the fifth highest percentage of Black-owned businesses in the nation,” said Ted Townsend, president & CEO of the Greater Memphis Chamber. “Our hope is that these grants will be a catalyst for these small, Black-owned businesses to continue to make an oversized impact on the city they love.”
The companies were selected primarily based on the impact their growth plans would have on Memphis, which has the fifth highest percentage of Black-owned businesses in the nation. The application process began on Nov. 3 and closed Nov. 11, followed by a rigorous selection process by a panel that included members of the Memphis small business community, the Chamber, and IKEA.
“Challenges are a fact of life for small businesses, but especially for Black-owned businesses,” said Chamber Programming Project Manager Patricia McKinney. “These grants are just one of the ways the Chamber is working to expand access to prosperity for Black-owned businesses in Greater Memphis.”
The $25,000 in grants for Memphis are part of a $3 million national commitment by the IKEA U.S. Community Foundation.
“The IKEA U.S. Community Foundation’s Black Business Initiative is focused on making a tangible impact to support racial equity and inclusion in our workplace and society,” said Michael Mateson, IKEA Memphis Market Manager. “Through local relationships, our ambition is to build a connection with neighboring businesses, entrepreneurs and organizations that support economic empowerment and equity for the Black community. Together with our social justice partners, co-workers, customers, and communities, we can work to make meaningful and measurable change.”
About the Greater Memphis Chamber: One of Memphis’ oldest institutions, dating back to 1838, the Greater Memphis Chamber is a privately funded nonprofit that serves as the region’s lead economic development organization and the “Voice of Memphis Business” on local, state, and national issues. The Chamber’s mission is to relentlessly pursue prosperity for all — through economic and workforce development, pro-growth advocacy, and by providing support and resources to its investors, which include many of the region’s largest employers. For more information about the Chamber, visit memphischamber.com and memphismoves.com. Also, follow the Chamber on Twitter, Facebook, LinkedIn and Instagram, and sign up for its weekly newsletter, Memphis Fourword.
About IKEA: At IKEA, the vision is to create a better everyday life for the many people by offering well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment. Ingka Group (Ingka Holding B.V. and its controlled entities) is one of 12 different groups of companies that own and operate IKEA retail under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Ingka Group is a strategic partner in the IKEA franchise system, operating 389 IKEA stores in 32 countries – including 52 retail locations in the U.S. For more information on IKEA U.S., see IKEA-USA.com, @IKEAUSANews, @IKEAUSA or IKEAUSA on Facebook, YouTube, Instagram and Pinterest.BACK