iFood offers credit and consultancy to black entrepreneurs

Find out what the iFood Believe program will be like, created to empower black people who have restaurants on the app

On June 21, iFood launches iFood Believe, a program to accelerate entrepreneurship for black people. Its objective is to encourage the growth of black entrepreneurs throughout Brazil, strengthening diversity and boosting this audience mainly in areas related to iFood's operations.

This is one of iFood's actions — one genuinely Brazilian company— to reduce inequalities in the country. “iFood understands the importance of maintaining its social commitment to generating impact”, says Angel Vasconcelos, the company’s Equity Director.

To this end, iFood Believe opens a path to empower black entrepreneurs, starting with Salvador restaurant owners. One of the key points of the program is to give more visibility to restaurants owned by black entrepreneurs on the app.

“To improve performance on the platform, black entrepreneurs participating in the program will receive performance consultancy, in addition to management and operation training through Decola, iFood’s education platform aimed at partners”, says Angel.

The financial difficulties of black entrepreneurs will also be addressed by iFood Believe. This will be done with “guidance and access, when necessary, to a line of credit with reduced rates, financially supporting your business”, he adds.

In this first stage, only establishments already registered on the platform will have access to the program; Those who are not yet on the app will initially be able to register to participate.

How will iFood Crédito help these entrepreneurs?

The main objectives of the program are:

· Give more visibility in the iFood app

· Offer performance consultancy to entrepreneurs

· Provide management and operation training through Decola, iFood’s education platform aimed at partners

· Provide financial guidance and, when necessary, a line of credit with reduced rates.

The importance of black entrepreneurship

Black entrepreneurs in Brazil number 14 million people, according to research by Afroentrepreneurship Brasil. And they generate around R$ 2 million per year in the country's economy.

A contrast that draws attention in the data collected by Afroepreendedorismo is that, although 61.9% of these black entrepreneurs have higher education or higher, only 15.8% have an income greater than six minimum wages.

In this way, financial need drives the opening of businesses among black people in Brazil, one of the effects of the prejudice they suffer every day.

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