Exclusive: Tarte Cosmetics Is Helping Black, Women-Led Businesses Shape Their Future

Whereas Tarte Cosmetics could also be recognized for his or her bigger than life #trippinwithtarte influencer journeys, the model has all the time centered on giving again—whether or not it’s honoring well being care staff by inviting them to Tarte workplaces for a gifting suite or ‘Tarte Loves Teachers’ the place the clears lecturers’ want lists for his or her lecture rooms and college students. Nonetheless, founder and CEO Maureen Kelly has all the time cherished serving to fellow entrepreneurs. “I started Tarte out of my 1-bedroom apartment in NYC and I understand the hustle of getting a business off the ground,” shares Kelly. In 2022, she based ‘Shape Your Future Small Business Awards,’ to assist small companies attain their goals through a $150,000 money injection. For 2023, the model is pondering even larger.

For the second annual Form Your Future Small Enterprise Awards, Tarte is launching their software cycle on August 1st, which additionally kicks off Nationwide Black Enterprise Month. This yr, the model is specializing in Black ladies entrepreneurs and offering $300,000 in grants to assist speed up the development of their companies. “Tarte’s mission has always been to celebrate and empower women, from funding all-female cooperatives in the Amazon to mentoring future leaders. Our Second Annual Shape Your Future Awards provide financial and business support for Black entrepreneurial women and is part of our ongoing commitment to inclusivity and equity,” Kelly completely shares with ELLE.com. Tarte will probably be offering $150,000 and Kelly will match her firm with $150,000 from her funds. It is a collaborative brainchild between Tarte and their DE&I company accomplice, Black Magnificence Roster (BBR), which is able to provide two tiers of funding alternatives for candidates primarily based on the dimensions and wishes of the corporate: 6 awards of $25,000 every and 15 awards of $10,000 every.

In response to a 2021 report from the Harvard Enterprise Evaluation, 61% of Black ladies self-fund their companies. The reasoning could also be on account of a scarcity of entry to capital, as women-led firms solely obtain 2% of enterprise capital funding. For Black ladies, these numbers are much more dire. Digital Divided, a non-profit with a mission to make use of knowledge, analysis, and packages as a driver to help the financial progress of Latinas and Black ladies entrepreneurs, launched a report revealing that as of 2020, lower than 100 Black ladies had raised greater than 1M {dollars} in funding. 15M {dollars} was the typical Sequence A funding in 2022. “At BBR, our mission is to create meaningful and lasting diversity in the industry. We are committed to driving change through education, transparent accountability and action. We recognize the need for more inclusivity and representation and are working with companies to ensure their commitment and action has meaningful impact,” states Maude Okrah, President, Black Magnificence Roster.

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As soon as a “small business owner” herself, Kelly is conscious that the facility of data coupled with financing can gasoline the success of a enterprise. “Creating a business takes so much more than money, so I’m excited to launch Tarte Labs, which will offer mentorship and resources like business templates, marketing, operational guidance, legal advice, and other things to help you succeed,” she shares with ELLE.com. Taking the blueprint from the tech business, Tarte Labs will present an accelerator of kinds; entrepreneurs, creators, and innovators could have entry to instruments to develop their endeavors, together with, studio and content material creation house, and can function out of Tarte Headquarters in New York Metropolis. The second annual Form Your Future Small Enterprise Awards winners would be the first cohort to pilot this system.

In case you are a Black lady small enterprise proprietor concerned about funding and mentorship. This program could possibly be an ideal match for you. Functions will open on Tuesday, August 1st, 2023 and Tarte will launch it and additional particulars through their social media accounts.

Headshot of Danielle James

Magnificence Director

Danielle James is the Digital Magnificence Director of ELLE.com. Beforehand, she was the Vogue and Magnificence Director of HelloBeautiful.com and MadameNoire.com. She’s bylined for The Minimize, InStyle, Attract, Enterprise of Vogue, Nylon, Essence, Good Housekeeping, The Grio, and Huffington Put up. Danielle enjoys crusing, thrifting, Japanese whiskey, Naomi Campbell’s runway stroll, and Rihanna within the remark part.

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