Overview

At LISC LA, we know that small businesses have taken a significant hit from the COVID-19 crisis, with Black-owned businesses hit hardest compared to any other demographic—with more than half of Black business owners seeing their revenue cut by half, and Black business ownership dropping by 41%. Additionally, the personal care sector has also seen a 45% decrease in revenue in the last year, with experts predicting this industry will have one of the longest paths to recovery amidst COVID-19. 

In response to these alarming trends and to support Black small businesses in the personal care industry, LISC LA, with the support of Pacific Premier Bank and the James Irvine Foundation, is launching the Black Business Excellence Technical Assistance (BBET) Initiative: a new accelerator program that provides wrap- around business services to Black-owned businesses in the personal care industry – health, wellness, and beauty – that will take these businesses to the next level.   

Program Components

LISC LA will select a cohort of up to 30 businesses per year that will have access to the BBET program, which will include the following 5 components:

• Learning modules: Businesses will have access to 10 modules lead by industry experts in the field. Example modules include strategic business planning, marketing, accounting, raising capital, optimizing supply chain and disaster resilience. 
• One-on-one business advising:  Businesses will be paired with a Business Advisor with expertise in their industry. Businesses will have the ability to meet weekly with their advisor.
• Networking opportunities: Businesses will have access to 3-5 networking opportunities with fellow peers, industry experts, and/or brand partners in their relevant industry.
• Pitch presentations: Businesses will have the opportunity to pitch to funders to compete for small grants to seed the implementation of their growth plan. 
  

This program was made possible through the generosity of our partners. 

BBET is part of LISC LA's Black Economic Development Agenda, our 2021 initiative to close the racial wealth gap, support the local economies of historically Black neighborhoods, and empower Black-owned businesses in Los Angeles through LISC LA programs and resources.