Small Business Grants: 10 Grants Every Entrepreneur Should Know About

Beginning an enterprise involves starting small and with a lot of ambitions, users come to grasp that a lot of money is usually needed to establish a new company. One of the emerging problems is that most business owners experience difficulties in sourcing capital to set up their businesses. Fortunately, there are a lot of grants that are available for small businesses alone. Here, you will get an insight into ten grants every entrepreneur must consider as we elaborate on some indispensable financial assistance that will help you in your business.

1. Small Business Innovation Research (SBIR) Program

The Small Business Innovation Research (SBIR) Program is an aggressive program aimed at encouraging small business organizations to undertake research in federal technology. The program provides funding in three phases: Feasibility is a process that precedes development and is followed by commercialization. Currently, this grant can be of interest to those companies that plan to create new technologies and may receive from $ 250,000 to $ 1,000,000.

2. Small Business Technology Transfer (STTR) Program

Like the SBIR program, the STTR Program also emphasizes technology transfer and the small businesses are awarded in conjunction with research institutions. The aim is to translate the concepts and creations to the market. Similar to SBIR, STTR also provides up to $1 Million of funding and maintains a healthy relationship between small businesses and research organizations.

3. Amber Grant

The Amber Grant on this website has a special focus as it offers $10,000 each month to a woman-owned venture. In addition to the monthly winning, any of the 12 winners can have an extra $25,000 that concludes the yearly winning. This grant is somewhat easy to apply and offers a lot of funding for women entrepreneurs.

4. FedEx Small Business Grant Contest

From my research on the company and the grant program, I discovered that FedEx indeed provides massive help to small businesses through the annual grant contest. Each winner gets cash and some type of FedEx business services, for a total; the grand-prize winner gets $50,000 plus $7,500 in FedEx Office print and business services. This contest offers not only basic capital funding but also services that are crucial for business.

5. NASE Growth Grants

The National Association for the Self-Employed (NASE) provides Grants of as much as $4,000 for growth-intentioned small businesses. These grants can be used for advertising products and services, recruiting employees, and increasing space for the business among others. NASE Growth Grants are quite versatile since they can fund almost every area related to business advancement.

6. Eileen Fisher Women-Owned Business Grant Program

Eileen Fisher funds women’s business ventures that impact social or environmental issues. Every year, $100,000 is then given to women business owners through the Eileen Fisher Women-Owned Business Grant Program to support organizations whose mission and visions focus on the welfare of others or the improvement of the environment.

7. Comcast RISE

It is elaborated that Comcast RISE provides $1,000 annual grants to African American, Hispanic/Latinx, Asian American, and other minority- and female-owned small businesses. Marketing services that include consultation and placement of media, as well as technological enhancement are offered by the program. This initiative is useful to various business owners since the provides both capital and other business support services.

8. Tory Burch Foundation Fellowship Program

The Tory Burch Foundation offers women, and entrepreneurs, $5,000 of initial funding, to begin with a minimum grant of $10,000, a year fellowship, and comprehensive education on business. This program is an integrated one where the women are offered capital with school and mentorship that will enable them to expand their businesses.

9. Nav’s Small Business Grant

Nav is a business financing platform sharing a small business grant that is awarded quarterly with a grand prize of $10,000. The funds can be used for any business need, giving leverage to the entrepreneurs in the sense that this is something that they can use for every need of their businesses. Unlike [some grants] which occur only once Nav’s Small Business Grant has Quarterly opportunities to offer every business.  

10. USDA Rural Business Development Grants

The USDA offers funds aimed at stimulating small business formation in rural territories with the help of USDA Rural Business Development Grants. Such grants may be used for training and technical assistance as well as other development needs in the business. As for general eligible use financed by the program, the program covers nearly all the needs of a rural business to spur economic activities in rural areas.

Conclusion

As such, make sure to spend some time to get as much knowledge as possible about the specific grants you stand the best chance of getting awarded to your business. Thus, you can learn about the grants you could apply for and obtain the finances required to make your entrepreneurial visions come true. Good luck!