Synchrony Financial announced the launch of a new competition titled Working Forward Small Business Awards which is designed to assist small businesses and improve the local communities. This contest will award the five chosen winners with $20,000 each. Each award will be split up, one half going to support the business' growth and the other going to fund the local community.
Synchrony created this program with the intent to lessen the struggles that small businesses endure when trying to grow their companies. While small businesses often support their local community through volunteering, donations and sponsorships, this can be a burden if they lack sufficient resources. So with the Working Forward Small Business Awards, both the business and the community will receive investment for growth.
According to Glenn Marino, the executive vice president and CEO, Payment Solutions, Synchrony Financial states that “We want to support these businesses in working forward on many fronts to help them stay strong, be relevant and make a difference in their communities.” The goal is creating a strong relationship between the community and businesses, so that both can benefit each other.
The Working Forward contest is open to the partners of Synchrony Financial Payment Solutions with the requirement that the business have less than 30 full-time, year-round employees. The application can be submitted online due by October 20, 2016. Full information regarding application questions and other requirements for the competition can be found on the website.