ImpactAZ 2025 Inducts 30 Small Business Owners, Awards $75,000 in Scholarships to Close Racial Wealth Gap

The Black Chamber of Arizona is making strides in advancing economic growth with its ImpactAZ 2025 program. This multi-year initiative focuses on contracting readiness and aims to create more access and equity in purchasing and procurement for small businesses. The recent induction of 30 diverse small business owners into the program marks the beginning of the 2nd cohort, with a total of $75,000 in scholarships awarded to participants.

Over the next nine months, program participants will receive mentorship, networking opportunities, and support to enhance operational excellence and revenue growth. The program is a collaborative effort involving key partnerships with corporations and organizations such as JPMorgan Chase, Bank of America, and the Arizona Chamber of Commerce.

The ImpactAZ 2025 program has already shown success in its first year, helping participants secure contracts, expand business operations, and allocate capital funding. With a focus on closing the racial wealth gap, the program aims to empower minority entrepreneurs and drive meaningful change in communities.

Arizona Governor Katie Hobbs has recognized the program’s impact by declaring “ImpactAZ Day,” highlighting its role in advancing economic growth. The success of the program demonstrates the positive impact of supplier diversity initiatives, with benefits extending to communities and job creation.

For more information on ImpactAZ 2025 and how it is empowering entrepreneurs and fostering economic growth in Arizona, visit their website at https://impactaz2025.com/.