IKEA Foundation Black Business Grants

The Greater Memphis Chamber and IKEA are committed to helping Black businesses grow in Memphis. That’s why the Memphis Chamber Foundation and the IKEA U.S. Community Foundation are teaming up to award five IKEA Foundation Black Business Initiative grants of $5,000 each — a total of $25,000 — to small, Black-owned businesses that are members of the Greater Memphis Chamber.

Keep reading to learn how to submit your application between now and 11:59 p.m. Friday, Nov. 11, 2022!

WHAT YOU NEED TO KNOW

Applications must satisfy the following criteria to be considered:

• Is a majority Black-owned, for-profit business, meaning over fifty-one percent (51%) equity is owned by a Black businessperson.
• Is legally registered and operating in the U.S. State or the District of Columbia (U.S. territories are excluded).
• Has between one (1) and fifty (50) employees.
• Plans to use the grant funds to scale business operations.
• Can promptly provide evidence requested by the IKEA U.S. Community Foundation and/or Memphis Chamber Foundation that the business is legal, valid and meets all application requirements.
• Has a business owner at least eighteen (18) years of age.
• Is not receiving a primary source of income from work as an independent contractor, contract firm worker, or temporary worker of another company where applicants are sole-member entities.
• Is not owned (in whole or in part) by and does not employ any individual who is an employee, contractor or personnel of IKEA or IKEA U.S. Community Foundation, the Memphis Chamber Foundation, or any person engaged in the administration, selection, or judging process for this program, or are an immediate family member of same.
• Is a member of the Greater Memphis Chamber.

Preference will be given to applications that demonstrate the following:

• In business for a minimum of one year.
• Annual revenue of less than $1 million.
• The grant will be used to scale operations through purchasing equipment, technology, software, or marketing that will lead to increased revenues.
• The IKEA U.S. Community Foundation grant can be leveraged to bring in additional funding to the business.
• The business is located within the Greater Memphis metropolitan statistical area.

READY TO APPLY?

1. Complete the application, which includes a clear explanation of how the grant funds will be used if awarded.
2. Provide verification documentation requested (see application.)
3. Submit your application by email to workforce@memphischamber.com or by mail to the Greater Memphis Chamber, 100 Peabody Place, Suite 1000, Memphis, TN 38103, Attn: Patricia McKinney by 11:59 p.m. on Nov. 11, 2022.

Having issues? Let us know by calling 901-543-3500.