Beyoncé’s Cécred and the BeyGOOD Foundation launched the second installment of the Cécred x BeyGOOD Fund. This year, the Fund is available nationwide, expanding reach, empowering stylists, fueling entrepreneurship, and honoring the vital role salons play in their communities. 

With a $500,000 commitment, the Fund will focus on two initiatives: providing capital and business development to salons and scholarships to cosmetology students.

Founded by Beyoncé Knowles-Carter, Cécred and BeyGOOD Foundation share the core values of education, entrepreneurship, and economic prosperity. 

Tina Knowles, Vice Chairwoman at Cécred and Chair of the Board of Directors at BeyGOOD Foundation, commented, 

“Since the brand’s launch over a year ago, Cécred’s partnership with BeyGOOD has honored the knowledge and influence professional stylists have on their clients… With the Cécred x BeyGOOD Fund, we strive to uplift the professional hair industry and grow the salon community, while giving students and salon owners the tools they need to progress it forward.”

Salon & Barbershop Grants

The Cécred x BeyGOOD Fund will offer $370,000 of the $500,000 commitment to award $10,000 business grants to 37 salon and barbershop business owners who have demonstrated financial hardship. 

In addition to financial assistance, these grants will provide access to critical business development tools, mentorship, and resources. These resources are provided by The National Minority Supplier Development Council (NMSDC). 

The top 40% of non-selected finalists will receive extended support, including group coaching and Minority Business Enterprise (MBE) certification resources. 

Applications for the salon business grants are officially open May 27 and close June 13.

Grace Ray, CEO at Cécred, said,

“At Cécred, our commitment has always been to uplift and invest in this vital community from the very beginning. Through education, access, and building meaningful relationships, we’re proud to support professional and aspiring stylists build thriving businesses, elevate their craft and continue doing what they do best.”

Cosmetology Student Scholarships

To directly support aspiring cosmetologists, $130,000 in student scholarships will be distributed across five selected cosmetology schools.

Participating schools include:

• Detroit Extravagant Academy in Detroit (MI)
• Cosmetology Institute of Las Vegas in Las Vegas (NV)
• Universal College of Beauty in Los Angeles (CA)
• Civella Beauty Academy in Goldsboro (NC)
• Bennett Career Institute in Washington, D.C. 

Cécred and BeyGOOD selected the five institutions and awarded funding based on financial need, community impact, curriculum inclusivity, student support system, academic performance, and more.

Furthering its ongoing commitment to professionals, Cécred launched its Pro Program this week.

This includes backbar-friendly Max Sizes of its award-winning Foundation Collection. 

With exclusive education and benefits, the Pro Program will continue to serve as the go-to destination for stylists looking to elevate their practice with Cécred through education, product support, and networking.

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