Small-Business Grants for Women: 17 Best Options
Starting a small business can be a daunting task for anyone, but it can be even more challenging for women entrepreneurs. Women-owned businesses often face more obstacles, including difficulty accessing capital. Fortunately, there are numerous grants available specifically for women entrepreneurs. In this article, we’ll discuss 17 of the best small-business grants for women.
Introduction
Small businesses are the backbone of the American economy, and women entrepreneurs play a crucial role in their growth and success. However, starting and growing a business can be expensive, and access to capital is often a significant barrier for women-owned businesses. Small-business grants for women can be a valuable resource for women entrepreneurs, providing them with the financial assistance needed to start or grow their businesses.
What are small-business grants for women?
Small-business grants for women are financial awards provided by organizations, government agencies, and corporations to women-owned businesses. These grants do not need to be repaid, making them an excellent alternative to loans for women entrepreneurs who may not have the financial means to take on debt. Small-business grants for women are typically awarded based on merit and can be used for a variety of business expenses, including equipment, inventory, marketing, and hiring employees.
Why are grants important for women entrepreneurs?
Access to capital is critical for any small business, but it can be especially challenging for women entrepreneurs. Studies show that women-owned businesses receive only a fraction of the venture capital funding awarded to male-owned businesses. Small-business grants for women can help level the playing field, providing women-owned businesses with the financial support they need to start and grow their businesses.
What are the eligibility requirements for small-business grants for women?
Each small-business grant for women will have its own set of eligibility requirements, which may include factors such as the business’s size, industry, location, and revenue. Most grants will require that the business is at least 51% owned and operated by a woman. Some grants may also require the business to be in operation for a certain period, have a certain number of employees, or meet specific revenue thresholds. It is essential to carefully review the eligibility requirements for each grant before applying.
Best Small-Business Grants for Women
The Amber Grant
The Amber Grant is a $10,000 grant awarded to a woman-owned business each month. The grant is provided by WomensNet, an organization that helps women entrepreneurs start and grow their businesses. The grant winner is selected based on the applicant’s business description and future plans.
Cartier Women’s Initiative Awards
The Cartier Women’s Initiative Awards are a global competition for women entrepreneurs who are leading for-profit businesses
Tory Burch Foundation Fellows Program
The Tory Burch Foundation Fellows Program provides 50 women entrepreneurs with a year-long fellowship that includes business education, mentorship, and networking opportunities. Each fellow also receives a $5,000 grant to invest in their business.
The Eileen Fisher Women-Owned Business Grant Program
The Eileen Fisher Women-Owned Business Grant Program awards a total of $200,000 in grants annually to up to ten women-owned businesses. Grant recipients also receive access to networking opportunities and business development support.
Small Business Innovation Research Program (SBIR) and Small Business Technology Transfer Program (STTR)
The Small Business Innovation Research Program (SBIR) and Small Business Technology Transfer Program (STTR) are federal grant programs that provide funding to small businesses that are engaged in scientific research and development. Both programs set aside a portion of their funds for women-owned businesses.
Grants.gov
Grants.gov is a central location for finding and applying for federal grants. The website features a searchable database of grant opportunities, including grants specifically for women entrepreneurs.
National Association for the Self-Employed (NASE) Growth Grants
The National Association for the Self-Employed (NASE) Growth Grants provide up to $4,000 in funding to small businesses owned by NASE members. Women entrepreneurs are eligible to apply for these grants.
InnovateHER Challenge
The InnovateHER Challenge is a competition hosted by the Small Business Administration (SBA) that awards cash prizes to entrepreneurs who create innovative products and services that have a positive impact on women and families.
FedEx Small Business Grant Contest
The FedEx Small Business Grant Contest awards 10 grants, ranging from $15,000 to $50,000, to small businesses each year. Women entrepreneurs are encouraged to apply for these grants.
Zions Bank Smart Women Smart Money Grant Program
The Zions Bank Smart Women Smart Money Grant Program provides funding and business resources to women entrepreneurs in Utah and Idaho. The program awards a total of $5,000 in grants annually.
The Girlboss Foundation Grant
The Girlboss Foundation Grant awards biannual grants of $15,000 to women entrepreneurs who are working in the fields of design, fashion, music, and the arts.
Halstead Grant
The Halstead Grant is an annual grant awarded to a jewelry artist who is in the early stages of their career. The grant provides $7,500 in cash and $1,000 in jewelry supplies.
The National Association of Women Business Owners (NAWBO) Education & Development Foundation
The National Association of Women Business Owners (NAWBO) Education & Development Foundation provides scholarships and grants to women entrepreneurs who are members of NAWBO.
Women’s Business Centers
Women’s Business Centers are a network of centers across the country that provide business training, counseling, and resources to women entrepreneurs. Some centers also offer small-business grants for women.
Small Business Administration (SBA) Grant Programs
The Small Business Administration (SBA) offers several grant programs for small businesses, including the Small Business Innovation Research Program (SBIR) and the Small Business Technology Transfer Program (STTR). The SBA also provides grants through its Office of Women’s Business Ownership.
The Open Meadows Foundation Grants for Women and Girls
The Open Meadows Foundation provides grants of up to $2,000 to women and girls who are working on projects that promote gender, racial, and economic justice.
Women’s Net Amber Grant
Women’s Net Amber Grant is a monthly grant awarded to women entrepreneurs who are working to launch or grow their businesses. The grant amount is $4,000.
Conclusion
Small-business grants for women can be a valuable resource for women entrepreneurs who are looking to start or grow their businesses. With so many
options available, it’s important to do your research and find the grant program that best fits your business needs. Be sure to read the eligibility requirements and application instructions carefully before applying for any grants.
In addition to grants, there are also other resources available to women entrepreneurs, such as business development programs, mentorship opportunities, and networking events. By taking advantage of these resources, women entrepreneurs can gain the knowledge, skills, and support they need to succeed in the business world.
If you’re a woman entrepreneur looking for funding and support for your business, consider exploring some of the grant programs and resources mentioned in this article. With dedication and hard work, you can turn your business dreams into a reality.
FAQs
- Who is eligible for small-business grants for women?
- Eligibility requirements vary depending on the grant program. Some grants may be open to all women entrepreneurs, while others may have specific requirements such as location, industry, or business size.
- How can I apply for small-business grants for women?
- You can apply for small-business grants for women by visiting the grant program’s website and following the application instructions.
- Are small-business grants for women free money?
- Small-business grants for women are not free money. They are competitive programs that provide funding and resources to women entrepreneurs who demonstrate a strong business plan and potential for success.
- How can I increase my chances of getting a small-business grant for women?
- To increase your chances of getting a small-business grant for women, make sure you have a solid business plan, meet all eligibility requirements, and provide all necessary documentation. You may also want to consider seeking out mentorship and networking opportunities to help strengthen your business.
- What other resources are available to women entrepreneurs besides grants?
- Other resources available to women entrepreneurs include business development programs, mentorship opportunities, and networking events. Women’s business centers and organizations such as NAWBO can also provide valuable resources and support.
