Since the onset of COVID-19, small businesses – especially minority and women owned businesses have been hardest hit by this Pandemic. Nationwide, it is estimated that 44% of minority and women owned businesses will shut their doors; while, according to the County’s Economic Development Corporation, 1/3 of these businesses may be forced to close.
While the pandemic is wreaking havoc, these potential closures highlight the historic struggle that small businesses have had to remain competitive.
Many of these businesses have long been locked out of public and private procurement, equity participation in land use development & investment/capital access. The inability to access capital, makes it difficult to remain afloat even when obtaining small contracts.
In keeping with its purpose to be the Voice of Wealth Creation, the Prince George’s Chamber of Commerce in collaboration with the Small Business Development Council (SBDC), and generous support from the United Way of the National Capital Area, City First Bank, Bank of America, the Prince George’s Community Federal Credit Union & Trust – is pleased to announce the Capital Accelerator Program.