70 entrepreneurs from across the country selected to benefit from a business accelerator to help them grow their businesses and close long-standing disparities.
Ernst & Young LLP (EY US) today announced the 70 Black and Hispanic/Latino entrepreneurs from 20 states as well as Washington, D.C. selected for this year’s cohort of the EY Entrepreneur Access Network (EAN) . A nationwide business accelerator, EAN is a comprehensive 12-month executive program designed to support innovative Black, Hispanic, and Latino-owned businesses. The entrepreneurs were selected based on their leadership style, business acumen, corporate culture, level of innovation and potential for scalability. The program was first designed in 2019, after decades of working with diverse entrepreneurs and understanding their opportunities and challenges.
This year’s cohort includes 70 people leading businesses across more than ten industries. Many of these pioneering founders are focused on solving some of the most pressing problems facing society and consumers today. These entrepreneurs are tapping into new markets by creating efficiencies and connections – whether it’s a platform for organizations to gather feedback from diverse communities or bridging the gap between global consumers and rural producers .
“The contributions of Black and Hispanic/Latino entrepreneurs are nothing short of transformative, and we are thrilled to support this talented cohort as they take their businesses to the next level.” The societal, economic and cultural impact of their companies strengthens our communities on many levels – especially when these leaders access the resources needed for long-term success,” said Lee Henderson, EY Americas Private Leader and Executive Sponsor. from the EY Entrepreneur Access Network.
In today’s business environment, rising interest rates, inflation, ongoing geopolitical instability and recession fears create challenges for new and established businesses alike. An EY 2022 investigation of Black and Hispanic/Latino entrepreneurs found that more than two in five entrepreneurs surveyed (43%) view shortages and delays in the supply chain as a major threat, followed by business competition (39%) and access to capital (38%). As Black and Hispanic/Latino entrepreneurs face a challenging business landscape, EAN helps them access resources to help them raise capital, develop business alliances, and scale their businesses to create greater growth at long term.
“Black and Hispanic/Latino businesses have contributed billions of dollars to the economy and, even despite current macroeconomic challenges, such as inflation, and systemic barriers that continue to exist, they have remained resilient” , said Nit Reeder, EY U.S. markets communications and enablement leader. and program director of the EY Entrepreneur Access Network. “Many of these entrepreneurs bring innovative and game-changing ideas to tackle today’s most pressing issues, both within underserved communities and beyond. Now more than ever, it is crucial to support this group of entrepreneurs to help them access the right resources. We are excited to welcome the EAN 2023 cohort and provide them with the connections and guidance needed to support them in their professional and business growth.
By committing to the 12-month program, entrepreneurs gain access to a curriculum covering critical business topics, one-on-one coaching, connections to investors and capital sources, and cohort members who represent alliances , suppliers and potential customers. Members of the EAN 2023 cohort will also be recognized at the EY Strategic Growth Forum® in November, one of the most prestigious gatherings in the country bringing together leading companies in their high-growth markets.
For more information, please visit ey.com/EAN.
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