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Salute to Small Business Awards - Minority Business Award

COMMERCE LEXINGTON INC

Foundation Annual Small Business GrantsGrants for Minority-Owned Businesses
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Funding Amount

Varies

Deadline

Rolling / Open

Grant Type

foundation

Overview

Salute to Small Business Awards - Minority Business Award

Funder: Commerce Lexington Inc., Lexington, Kentucky

Program Overview:
Commerce Lexington Inc. has honored small business contributions to the economy since 1986. This is one of four award categories in the Salute to Small Business Awards program.

Award Category Focus:
The Minority Business Award recognizes an ethnically-owned member business that demonstrates business success and community impact.

Definition of Minority-Owned Business:
A business that is 51-percent owned, operated, and controlled by a person within the following racial and ethnic groups:

  • African American: Individual of Black race of African origin or parentage

  • Hispanic American: Latin American culture, origin or parentage

  • Asian American: Japanese, Korean, Chinese, Indonesian, Indochinese, Malaysian, Filipino, Native Hawaiian or other Pacific Island culture, origin or parentage

    • Eligibility Requirements:

  • Must meet the minority ownership definition above

  • Must be an active member of Commerce Lexington Inc.

  • Must have completed three (3) or more full years of operation in the local market

  • Must have fewer than 150 employees (full-time or combination of full- and part-time)

  • Small businesses can apply for ONE award category only

  • Past Category and overall Small Business of the Year award recipients are NOT eligible to reapply for 5 years from the date of their award presentation

    • Primary Evaluation Criteria:

  • Unique aspects of business (enhanced services, workplace flexibility, logistics adjustments, expansion efforts)

  • Business success and growth

  • Community impact

    • Geographic Scope:
    Lexington, Kentucky area (seven-county Lexington MSA)

    Application Confidentiality:
    Applications are kept confidential.

    Selection Process:

  • Applicants are judged by a selection committee

  • Winners are selected for each of the four categories

  • Category winners' names are released approximately one month prior to the Salute to Small Business Awards Luncheon

  • The Small Business of the Year is then selected from the category winners (excluding nonprofit of the year) and announced at the awards luncheon

    • Contact Information:
    Commerce Lexington Inc.
    330 East Main Street, Suite 100
    Lexington, Kentucky 40507
    Phone: (859) 254-4447

    How to Apply

    Application Process

    How to Apply:
    1. Visit the Commerce Lexington website to access the Salute to Small Business Awards application
    2. Complete the streamlined application form (Commerce Lexington has reduced redundancy in the application)
    3. Describe the success of your business, focusing on the Minority Business Award category criteria
    4. Submit by the deadline

    Required Information:

  • Business information and membership confirmation

  • Proof of minority ownership (51% owned, operated, and controlled)

  • Description of unique aspects of your business including:

    • - Enhanced services for customers
    - Workplace flexibility initiatives
    - Logistics adjustments
    - Expansion efforts
  • Business success and growth information

  • Community impact details

    • Submission Requirements:

  • Applications must be submitted through Commerce Lexington

  • Only ONE award category per business

  • Applications kept confidential

    • Note: Specific application details (narrative questions, submission format, exact deadline) were not provided in the available website content. Contact Commerce Lexington directly for complete application instructions.

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    Focus Areas & Funding Uses

    Fields of Work

    small-businessesminority-businesses

    Categories

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