Facebook to Expand Upskilling Program for Black, Latino Small Businesses

By D. Cruz First Posted: Oct 29, 2020 05:44 AM EDT

Facebook Exhibits Technologies At Innovation Hub

(Photo : Sean Gallup/Getty Images)
The Facebook logo is displayed at the Facebook Innovation Hub on February 24, 2016 in Berlin, Germany.

Facebook announced Wednesday that it is expanding its upskilling program aimed in helping owners of Black and Latino small businesses.

The expansion of the said upskilling project was part of Facebook's $1.1 billion commitment to reduce racial inequality in the U.S.

The program has been part of Facebook's many projects since 2018, specifically aimed for Black and Latino small businesses.

The tech giant said that it seeks to help about one million Black and one million Latino small businesses through upskilling with the expansion.

Its expansion comes in handy with the pandemic that has shuttered many small businesses in adherence to public health safety protocols.

Specifically, they want to help teach these businesses about digital marketing to reach customers online, a medium that has been heavily used during the pandemic.

The program, called Elevate, was also created by Black and Latino employees of Facebook. It started as an initiative to help small business owners of color to expand their online reach.

It not only supports businesses, but also nonprofits, community leaders, creators, students and job seekers. More information about the program can be seen on Facebook.

Black, Latino Small Businesses Hit Hard by Pandemic

The company recognized that the COVID-19 pandemic left many small businesses struggling to keep afloat. Many have also been forced to close down due to months of closure.

Facebook's chief operating officer Sheryl Sandberg told Business Insider that as more businesses move online, their program will become useful to minority business owners.

"Helping people learn digital skills is more important than ever," she said.

According to a New York Federal Reserve report, over 40 percent of Black-owned businesses shut down all over the U.S. between February and April.

Meanwhile, 32 percent of Latino-owned businesses shut down in the country. These rates are way higher than the 17 percent of white-owned businesses that closed down all over the country.

Facebook Elevate to Help Hidden Figures Shine

Elevate will offer a variety of offers for Black and brown small business owners.

It can give a series of info sessions on digital marketing. There is also a six-week mentorship program to expand a business' online reach.

"There are hidden figures in these communities," said Elevate program director Irene Walker. "And if we can just give them some of these digital marketing tips, it could really change their lives."

"We're here to change lives and change generations," Walker continued.

Facebook is not the only company that launched a major upskilling program to retrain the U.S. workforce.

Companies like Verizon, Amazon, PwC and AT&T also launched similar projects in recent years. They not only sought to upskill workers but also attract new talent.

For Elevate, Facebook chose to partner with Historically Black Colleges and Universities (HBCUs) and other educational institutions. They will pair small businesses with students looking for digital marketing jobs and internships.

The tech giant vowed funding for about 100,000 scholarships for small businesses looking to learn digital marketing.

According to the Bureau of Labor Statistics, there has been a demand increase of six percent for jobs in the field of marketing. This is slightly higher than most jobs, which is four percent.