Buy 1, give 5 - Program Overview
The Buy 1, Give 5 program is our effort to support female entrepreneurship both domestically (in the US) and in emerging economies.
Anyone who has ever started a business or attempted to start one, especially one that is capital and cost intensive, understands that not having startup capital can be extremely limiting. For women, and especially those that are a part of underrepresented minority groups, these startup costs can be even steeper. Economic and income inequalities can create a lack of access to funding sources, manufacturing contacts and other barriers to entry that make it difficult or impossible to navigate for most to afford to start or scale a business. The Buy 1, Give 5 program is our attempt to help some women entrepreneurs start, grow and scale their businesses.
Here’s how it works:
A full 5% would be deducted from the total amount of total sales (less tax, shipping and processing fees). That is, if an item nets $200 after taxes, shipping and processing fees, $10 will go towards the fund.
At the end of each quarter, the total amount in the Buy 1, Give 5 bucket will be tallied and divided as follows:
- 50% will go towards a domestic fund that sponsors female entrepreneurs here in the USA (Silver & Riley Female Entrepreneurship Grant). Grants will be given out in $1000 increments and will increase as sales increase
- The remainder 50% will be granted to a partner organization that supports female entrepreneurship in developing economies.
Women are the pillars of our communities and when we invest in women, we build a better world together.
MARCH 2020 FEMALE ENTREPRENEURSHIP GRANT WINNERS
New York, NY – March 2020 / Newsmaker Alert / Nearly 150 applicants vied for a SILVER & RILEY grant. Applications were narrowed down to five applicants by nine judges which included the Silver & Riley team and advisors. The five finalists were then interviewed via phone, after which three winners were chosen. Two $1,000 grant winners and an additional $500 grant was awarded thanks to additional grant funding received.
Read the rest of the press release here.