This guide outlines 10 valuable small business grants that women entrepreneurs can obtain.
Women entrepreneurs are on the rise in almost every industry. And various organizations and associations are supporting them by offering small business grants, consultations, and other tools. With such funding resources, women business owners can take their research and development projects further.
10 small business grants
From governmental support to economic agencies, entrepreneur women can find grants to boost their productivity and bring them closer to achieving goals. Grants work differently from bank loans. Loans have to be paid back. But grants are free financing created to provide the one-time financial push entrepreneurs require. Here’s a list of 10 small business grants supporting entrepreneur women.
1) Grants.gov
A database of government-sponsored grants, Grants.gov also provides small business grants. In order to apply for this grant, you need a DUNS number which is a unique 9-digit number. Next, register to conduct business with the U.S. government through their System Award Management site. Then, create an account at Grants.gov. Make sure you filter the results appropriately to find the right grant for your situation.
2) The Girlboss Foundation Grant
The Girlboss Foundation Grant was launched by Sophia Amoruso, an entrepreneur who founded Nasty Gal, a multi-million-dollar vintage clothing store. She promoted the #Girlboss mentality inspiring entrepreneur women worldwide, which later resulted in a networking platform called GirlBoss.
Since 2014, the foundation has awarded more than $130,000 in financial grants to women business owners. These small business grants are bi-annual with each beneficiary receiving project funding for $15,000. This is a great platform for small businesses to propel themselves towards success through community and networking.
3) Small business innovation research and small business technology transfer (SBIR STTR) programs
The SBIR program is one of the highly competitive small business grants. It encourages small businesses to participate in Federal Research/Research and Development (R/R&D) that facilitates commercialization. The STTR program, like SBIR, focuses on opportunities in federal research, innovation, and development. There are several federal agencies and departments participating in offering funds to small businesses in a variety of fields. Some of these agencies are: Department of Defense, Department of Energy, National Science Foundation, Department of Health and Human Services, Department of Education, and more.
4) Small Business Development Centers
Small Business Administration (SBA) has hundreds of Small Business Development Centers located around the United States. These centers are a major resource on a local level for small businesses starting out, trying to make a name for themselves. They offer free, one-on-one consulting, and help you with market research and finding appropriate small business grants funding for your purposes.
5) Women’s Business Centers
In an initiative to provide business resources for entrepreneur women, the SBA also sponsors a hundred Women’s Business Centers. These are located across the nation and help women business owners with business development and funding. Some lend money directly while others assist in your search for small business grants.
6) Economic development administration
Every state in the United States has economic development resources for local small businesses. These are meant to promote and support local economies. For example, the Tampa Bay Regional Planning Council offers information about grants and foundations that business owners can apply to. On the other hand, the Southern Colorado Economic Development District offers the Pueblo’s Etsy Maker Cities Grant, specifically, to support makers, artists, and creatives.
7) Eileen Fisher Women-Owned Business Grant
If the name Eileen Fisher rings familiar, it is because it’s the name of a popular and successful women’s clothing retail store. But Eileen Fisher does more than that. It also offers up to 10 businesses run by women awards of a total of $100,000 each year in small business grants. For a business to be eligible for this award, at least 51% of the business’ ownership and leadership should be women. Additionally, the company should be in operation for at least 3 years, earning less than $1 million annually, and be focused on social or environmental change.
8) Amber Grant
One of the most popular small business grants is the Amber Grant which awards $4,000 to a new woman-owned business every month. This grant is available to small businesses in the United States and Canada. To apply, simply describe your business and what you plan to do with the grant money, and pay an application fee of $15. But the best part: every year-end, one of the 12 grant winners is awarded an additional $25,000.
9) National Association for the Self-Employed
The National Association for the Self-Employed (NASE) is a nonprofit trade association that provides educational resources and benefits. Through the NASE Growth Grants program, you could receive up to $4,000 for your small business. To apply here, you must be a member of the association for at least 3 months, provide an explanation of how you will use the small business grants money and how it can help your business. Additionally, provide a resume and business plan as supporting documents.
10) FedEx small business grant
These grants aside, FedEx also offers small business grants that award up to $25,000 to 10 small businesses every year. To apply, describe your business and how you’d use the grant money. You can also send a video explaining your business, although this is optional. Winners also receive money for FedEx Office print and business services.
Paving the way forward
These are some of the best resources for entrepreneur women as they support, guide, and assist talent and innovation. Resources like these propel women towards building and developing their business ideas. Small business grants like these are creating new paths for creative and innovative progress.
This article was written by United World Telecom, a virtual phone number provider offering communication solutions for more than 150 businesses across the world.
