Establishing Cooperative Business Models in Local Economies

GrantID: 63195

Grant Funding Amount Low: $5,000

Deadline: March 13, 2024

Grant Amount High: $5,000

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Summary

If you are located in and working in the area of Financial Assistance, this funding opportunity may be a good fit. For more relevant grant options that support your work and priorities, visit The Grant Portal and use the Search Grant tool to find opportunities.

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Black, Indigenous, People of Color grants, Community Development & Services grants, Community/Economic Development grants, Financial Assistance grants, Non-Profit Support Services grants, Other grants.

Grant Overview

Cooperative Business Models for Local Economies

The emergence of cooperative business models as a sustainable economic strategy for economically distressed Black communities is gaining traction, driven by funding initiatives aimed at addressing systemic inequities. This funding encompasses the development of community-owned enterprises, focusing on cooperative organizational structures that foster local investment and economic resilience. Importantly, it excludes funding for traditional profit-driven enterprises that do not emphasize local ownership and reinvestment in the community.

Consider a case where a community creates a cooperative grocery store, owned and operated by local residents. This initiative not only fills a food desert but ensures profits remain within the community, enhancing overall economic stability. The training provided to residents on business management and cooperative principles further empowers them to create sustainable employment opportunities, demonstrating the dual impact of such funding.

Eligible applicants include not-for-profit organizations, community groups, and development agencies focused on cooperative models that actively engage with local residents in the establishment of these businesses. Conversely, initiatives that do not prioritize community ownership or fail to demonstrate a sustainable reinvestment strategy may be viewed as ineligible. This funding specifically targets economic strategies that empower Black communities, rather than traditional business development approaches that lack community involvement.

Resource requirements are significant; successful cooperatives often require funding for startup capital, workforce training, and ongoing operational support. Organizations may face obstacles in securing adequate training resources or navigating regulatory frameworks, which can impede the implementation of cooperative business strategies and lead to disqualification from future funding opportunities.

Eligible Regions

Interests

Eligible Requirements

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