Shining a Light on the Future: D. Foster Marketing Launches Salt + Light Scholarship Program
Did you know that ~23% of U.S. businesses are minority-owned? According to the 2023 Annual Business Survey (ABS) for 2022, there were approximately 5.9 million U.S. employer firms, of which 1.3 million (22.6%) were minority-owned; 273,542 (4.7%) were veteran-owned; and around 1.3 million (22.3%) were owned by women. At D. Foster Marketing, we believe every business, regardless of size or background, deserves the opportunity to thrive. That’s one reason why we are incredibly excited to announce the launch of the Salt + Light Program, a groundbreaking initiative dedicated to supporting purpose-driven minority business owners.
A Time for Action
The past few years have presented significant challenges for small businesses, particularly for minority-owned businesses. Inflation has risen, making it more difficult to cover operational costs. Almost half (46%) of small business owners reported they’ve had to cut back on expenses this year to mitigate the impact of inflation, according to recent research from Constant Contact and Ascend2.
Black business ownership is growing at the fastest pace in 30 years, and the share of Black households owning a business has doubled between 2019 and 2022. According to the U.S. Small Business Administration in 2024, black business owners own 3.5 million businesses and employ more than 1.2 million people. This represents an annual increase of over 7 percent in people employed by Black entrepreneurs.
Furthermore, the Small Business Administration (SBA) backed more than 4,300 SBA loans to Black-owned businesses in 2023. Total loan dollars ($1.3 billion) and overall share of SBA-approved loans (7.5%) to Black-Owned businesses have also more than doubled since 2020, underscoring the need that minority entrepreneurs have to access capital and resources.
The Salt + Light Program: A Beacon of Hope
Inspired by the biblical call to be “salt of the earth” and “light of the world” (Matthew 5:13-16), the Salt + Light Program is our way of giving back to the community and supporting the next generation of business leaders.
Here’s how the Salt + Light Program can help purpose-driven, minority-owned businesses:
- Pro Bono Branding and Marketing Services: The Salt + Light Program offers a comprehensive suite of services, including one-on-one consulting, long-term branding and marketing strategies, and complete brand launches or rebrands, at little to no cost for qualifying purpose-driven businesses.
- Expert Guidance: Businesses selected for the program will benefit from the expertise of D. Foster Marketing’s experienced branding and marketing professionals.
- Tailored Solutions: Each participant will work with strategists and creatives to receive customized strategies that align perfectly with their unique business needs and goals.
The program includes a mix of services including one-on-one hourly consulting sessions, long-term branding and marketing strategies, and “Brands Launched” services (e.g. website, branding and logo, social media). The Salt + Light Program is offered with a small fee to participating businesses. Our work is offered at no cost, but the donated services offered involve a small upfront payment to secure your spot and ensure your commitment to the program (and this fee is always donated to a nonprofit organization).
How to Apply for the Salt + Light Scholarship Program
Applications for the Salt + Light Program will be accepted beginning January 15th, 2025, at 9:00 AM EST. A team of advisors will carefully review applications and select recipients based on pre-defined criteria. Once chosen, program participants will collaborate with D. Foster Marketing professionals to develop and implement customized branding and marketing strategies. The Salt + Light Program has a limited number of openings each quarter. Qualifying purpose-driven, minority-owned businesses and organizations are encouraged to apply online at DFosterMarketing.com/salt-light by March 31st, 2025, to be considered for a Q1 scholarship recipient.
Our Mission
At D. Foster Marketing, we believe in empowering purpose-driven businesses to achieve their full potential. Through the Salt + Light Program, we aim to:
- Illuminate the path to success for minority entrepreneurs.
- Bridge the gap in access to essential branding and marketing resources.
- Create a more equitable and supportive business ecosystem.
We invite all eligible minority business owners to apply for the Salt + Light Program, so please share this news with your friends and family! Let’s work together to build a brighter future for our communities.
Dawn Foster is an unapologetic branding and marketing nerd who is passionate about research, analytics, and great storytelling through words and images. She is focused on helping business owners build and evolve their businesses with the right branding and marketing strategies and tactics. She has helped transform business owners into powerhouses through research, strategic planning, content development, education, and empowerment so that they can achieve success and reach their goals. As a business owner, her goal is to see others win, support her community, and do what she loves.
*Forbes Advisor. June 2024. https://www.forbes.com/advisor/business/software/website-statistics/
