Beyoncé plans to support entrepreneurs this year

by | Apr 25, 2023 | Resources | 0 comments

Beyoncé plans to support entrepreneurs this year

Beyoncé recently revealed an innovative twist to her upcoming tour – small business grants. Discover how Beyoncé plans to support entrepreneurs this year and other small business grant opportunities below.

BeyGOOD Foundation Grants

Beyoncé intends to provide small business grants during her forthcoming Renaissance World Tour. Her foundation, BeyGOOD, will host luncheons for entrepreneurs and students in cities visited throughout the tour. Entrepreneurs can apply for grants at these events, with a total of $1 million up for grabs. The tour is set to take place from May to September.

Beyoncé’s BeyGOOD Foundation will distribute $2 million to students and entrepreneurs during her Renaissance World Tour.

Since its establishment in 2013, the BeyGOOD initiative has carried out numerous philanthropic efforts in the U.S. and globally, including offering aid to communities impacted by natural disasters, promoting education, and supporting programs addressing housing shortages and mental health. The initiative has also granted funds to small, Black-owned businesses, especially since the onset of the COVID-19 pandemic.

Ivy McGregor, Executive Director of BeyGOOD Foundation, stated in a CBS Mornings interview that Beyoncé recognized the importance of small businesses. Beyoncé provided grants to over 900 small companies, each receiving over $10,000, and promoted them on social media.

Renaissance World Tour

Now, the BeyGOOD Foundation will organize luncheons in cities on the Renaissance World Tour, which commences in May and is scheduled to run through September. Entrepreneurs can win grants dedicated to small businesses totaling $1 million.

McGregor emphasized that it’s more than just a check; the foundation has listened and stayed in contact to understand small businesses’ needs, as they form the backbone of the economy.

Renaissance Scholarship Fund

An additional $1 million will be distributed among ten colleges and universities along the tour route through the Renaissance Scholarship Fund. Each institution will receive $100,000 to distribute to students.

In a news release, Beyoncé expressed her fulfillment in providing service, from scholarships to aiding families during Hurricane Harvey in her hometown, Houston. As a foundation, BeyGOOD will continue partnering with organizations through innovative programs to impact even more people.

Beyoncé’s foundation focuses on organizations serving marginalized communities, emphasizing economic equity and education.

“We believe everyone has the right to economic equity. And we are keenly aware of the barriers to access, opportunity, and resources that disproportionately impact BIPOC communities.” 

Ivy McGregor

The foundation’s work is rooted in the belief that education, employment pathways, and entrepreneurship support drive sustainable outcomes.

Further details about these grants and student scholarship opportunities will be announced soon.

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