North Raleigh Today

Raleigh Parks and Five One Labs, with support from the Truist Foundation, have announced the launch of “Business Bloom,” a program aimed at fostering innovative refugee- and immigrant-led businesses in Raleigh. The initiative is designed to help these entrepreneurs formalize and grow their small businesses within Wake County.

Alice Bosley, Co-Founder of Five One Labs, expressed enthusiasm about the partnership: “We are thrilled to partner with the Truist Foundation and the City of Raleigh to support refugee and immigrant entrepreneurs in creating impactful businesses, creating jobs and catalyzing opportunity in their communities. We look forward to seeing new innovative businesses come to life through this program.”

According to the 2022 Wake County census, 13.5% of residents were born outside of the United States. In North Carolina, over 20% of Main Street business owners are immigrants, contributing significantly to local economies by creating jobs.

Tierney Sneeringer, Cultural Outreach and Enrichment Program Manager for Raleigh Parks, highlighted the city's commitment: “The City of Raleigh is dedicated to fostering a sense of belonging in our community. Raleigh Parks offers various programs to support refugees and immigrants so we are excited to partner with Five One Labs to connect community members with resources that enhance their growth and economic success.”

The six-week Business Bloom program will commence in September 2024. It aims to provide practical training, advisory support, mentoring, experiential learning opportunities, peer collaboration, and connections with the local entrepreneurial community.

Chris Bell, Truist North Carolina East Regional President stated: “Our purpose at Truist is to inspire and build better lives and communities. Small businesses are crucial to the economy and we look forward to seeing the impact of the new Business Bloom program.”

Five One Labs is a startup incubator that supports refugee entrepreneurs through a three-month incubation program offering training, mentorship, an inclusive community environment, and seed funding opportunities.

Raleigh Parks manages over 200 parks featuring various recreational facilities while promoting an equitable community.

Truist Foundation focuses on building career pathways for economic mobility and strengthening small businesses through strategic investments in nonprofit organizations.

Applications for Business Bloom must be submitted by Sunday, Sept. 8. The program is free for adults.