Prospera, a nonprofit organization focusing on economic development, recently announced receiving its first grant from The Rockefeller Foundation. This grant will help Prosepera to offer procurement-focused training and technical assistance to entrepreneurs of small and Hispanic-owned businesses in Miami, Florida and Atlanta, Georgia. The grant's funded educational program will focus on procurement areas, including the bidding process, resources, minority certifications and access to capital for small business procurement-related requirements. However, the organization's focus remains to help more local entrepreneurs lay a strong foundation and increase readiness for contacting government agencies and corporations.
While the United States government is the largest purchaser of goods and services globally, Hispanic-owned small businesses received only 1.8% of federal agencies' total eligible contracting dollars in the fiscal year 2020. The Rockefeller Foundation is trying to help underserved workers build assets and economic stability. One approach would be to streamline the process by which businesses serving the underserved can secure contracts with the federal government.
Prospera's internal staff will also offer personal business consulting sessions and person-to-person support to review individual members' progress toward procurement readiness as a complement to education programs. In addition, Prospera will work with the ecosystem partners in South Florida and Metro Atlanta as and when the clients become ready for procurement to help them meet the right people and get the exposure, they need to pursue procurement opportunities.
Gregory Johnson, Managing Director of the Equity & Economic Opportunity Initiative at The Rockefeller Foundation, said, "Miami and Atlanta are among the fastest growing communities for Hispanic entrepreneurial activities in the U.S. The lack of access to procurement-focused resources and financial tools is a huge barrier for these growing businesses to receive opportunities with government and anchor institutions." He also said, "Prospera is helping entrepreneurs overcome the barriers routinely experienced by minority businesses and The Rockefeller Foundation is proud to support this vital work."
(Source: Cision PR Newswire)
About The Rockefeller Foundation
Based in New York, The Rockefeller Foundation, with its forward-thinking approach, has fostered innovative partnerships at the cutting edge of science, technology, and philanthropy to improve people's lives everywhere. The foundation's key focus is to promote humanity's well-being and make sustainable and universal opportunities. In addition, it also aims to ensure equitable access to health care and nutritious food. It is data-driven, collaborative, focused on improving people's lives, and grounded in scientific principles.