Today, eBay announced that it is extending its highly successful Up & Running grants program into another year, to help small businesses thrive online and secure their future.
The Up & Running Grants are focused on ensuring today’s small businesses are here tomorrow by committing more than $500,000 annually in funding and education resources to support the growth and success of existing small businesses on eBay. Now in its second year, the grants program builds on eBay’s long-standing commitment to small businesses and expands the company’s Up & Running initiative to another 50 US business sellers who will receive $10,000 grant packages.
“Small businesses power our economy, our communities and eBay’s marketplace. These businesses bring the rich and unique inventory that makes eBay one of the world’s most vibrant ecommerce destinations,” said Andrea Stairs, CMO & VP of Seller Community. “As the home of small business — with hundreds of thousands of small businesses, accounting for the majority of our annual gross merchandise sales — we feel a deep sense of responsibility to our eBay small business community. Continuing our Up & Running Grants program is part of eBay’s steadfast commitment in supporting and empowering our small business sellers through the relentless challenges brought on by the global pandemic.”
The eBay grants expansion announcement follows a recent survey by Small Business Majority that found 56% of all microbusinesses expect they can only survive three months or less without additional funding or market changes. The inaugural grants program awarded 50 deserving small businesses across the nation with the money, tools, education and resources they needed to not only survive, but thrive through the pandemic. Nearly 90% of grant recipients* said the grant was extremely helpful to their business staying up and running and growing online, particularly amidst COVID-19-related challenges, while 94% said the grant was extremely helpful in assisting their business to better manage and plan for the future.