According to the U.S. Senate Committee on Small Business and Entrepreneurship, in the past two years, minority-owned businesses created 4.7 million jobs and generated more than 50% of all new businesses in the United States. However, 99.9% of these minority-owned businesses are small businesses, meaning that they do not get the recognition they truly deserve in many cases. To aid this problem, over the past decade, The Workshop at Macy's, an exclusive retail accelerator program, has guided high-potential, diverse, LGBTQ, veteran, and women-owned businesses towards success. “We created The Workshop in 2011 to foster growth among emerging diverse and women-owned brands. We believe that our commitment to diversity and inclusion must engage our customers, colleagues and the communities we serve. This program brings together all three as we continue to build the future of representation in retail,” says Michelle Wang, Macy’s Vice President, Retail Diversity Strategy.

The initiative allows selected applicants to participate in comprehensive retail mentoring and a curriculum program to provide the education, tools, and resources needed to progress and scale their enterprises. For the twelfth year in a row, the retailer has opened up applications for The Workshop Spring 2023, and is calling for all those who feel they'd make the cut to apply.

To be considered for participation, applicants must follow a set criteria, with their business owner being:

• A woman, veteran, LGBTQ, Black, Hispanic, Native American, Asian Indian, or Asian Pacific.
• Be at least 21 years old.
• Have a minimum of 51% ownership or control of an established US-based business.
• Produce goods that can be sold in a department store environment.
• Be a US citizen or have permanent legal resident alien status.
• Verify their business as a legal entity (corporation, limited liability company, partnership, or sole proprietorship).
• Have been in business for at least two consecutive years.

Successful entrants will then be invited to a monthlong program virtually and in-person in New York beginning April 24, 2023. Through a comprehensive program led by retail leaders from companies such as Google and Meta, as well as Macy's leaders, attendees will explore in-depth topics such as financial management and building brand identity. As well as an extensive breadth of knowledge, participants will receive a $5K grant for their business upon completion of the program. All who do so will also be given a chance to enter a vendor pitch competition, in which the winning brand receives a Macy's partnership and a $100K business grant.

In addition, as part of Macy's social purpose platform, Mission Every One, the company is increasing its investment in underrepresented designers, brands, products, and service providers. Investing $5B overall into the platform from now until 2025, Macy's will continue to support diverse-owned brands through retail programs such as The Workshop at Macy's, in which they will invest $250K in business grants annually. “We believe that when our business enables everyone to stand in their truth and have a seat at the table, they realize their full potential, which unlocks innovation and progress for all,” says Jeff Gennette, Chairman and Chief Executive Officer of Macy’s, Inc.

Since The Workshop began, Macy’s has been able to empower over 195 graduate brands, including clean skincare bra​​nd AbsoluteJOI, and haircare brand Curl Daddy. Business owners who fit the criteria are encouraged to apply now through Macy's website, with a deadline of November 30.