Octane is one of 1.3 million Black owned businesses in the world and the 161,000 in America. As we built our company we also saw the lack of consistent success of fellow minority owned businesses. Octane took up a mission to help rewrite this narrative for minority-owned businesses. CTRL+ALT+Rebrand, a program spearheaded by Octane Design Studios, is directly confronting the sobering statistic that 70% of minority-owned businesses fail within their first 18 months.
Understanding the Challenges
The reasons for these early closures are multifaceted. Lack of capital, ineffective marketing, and insufficient market research all play a role. These hurdles are compounded for businesses owned by minorities, who often face systemic barriers to accessing resources and networks.
A Passionate Response
Recognizing these challenges, Octane has chosen to empower Kentucky’s aspiring entrepreneurs through strategic marketing support. CTRL+ALT+Rebrand is more than a program; it’s a commitment to fostering generational wealth and creating lasting impact for minorities and their families.
Key Statistics Underscoring the Need
- Minority-owned businesses contribute significantly to the U.S. economy: We generate over $1 trillion in revenue annually and employ millions of people.
- Despite our economic impact, we face disproportionate challenges: Access to capital remains a major hurdle, with minority entrepreneurs receiving less funding than their white counterparts.
- Kentucky’s diverse business landscape: The state is home to a growing number of minority-owned businesses, each with unique potential.
The CTRL+ALT+Rebrand Solution
Each business quarter, Octane selects eligible applicants to receive a comprehensive marketing package valued at $3,300. This package includes:
- Brand Voice workshop
- Brand style guide
- A website up to 3 pages
- Annual hosting and domain procurement
- Select brand collateral
This holistic approach equips businesses with the tools they need to establish a strong brand identity and connect effectively with their target audience.
Eligibility and Application Process
To qualify for consideration, applicants must meet the following criteria:
- Be located in Kentucky
- Be at least 50% minority-owned (Women, BIPOC, LGBTQIA)
- Can be a “coming soon” business or already established
- Agree to pay a $500 participation fee
- Submit a 30-second video sharing their goals and needs
The Receipts
We’ve had already two graduates from this program that include:
Everything and More Home Services
Apply Today
If you or someone you know is ready to take their Kentucky-based minority-owned business to the next level, the CTRL+ALT+Rebrand program is here to help. The Q4 application deadline is September 27, 2024. Apply today. and embark on a journey toward sustainable success.
CTRL+ALT+Rebrand is a testament to the power of strategic marketing and the unwavering belief in the potential of minority-owned businesses. Through this initiative, Octane is not only transforming individual businesses but also shaping a more equitable and prosperous future for Kentucky’s entrepreneurial community.
