Statistics show that women need business grants because they are still underserved and disadvantaged facing issues of unequal pay, discrimination and unfair labor practices. Business grants for women allow women to overcome these obstacles in order to achieve success and excel in business. Business grants for women can be used to start a business or expand an existing business and gives them the tools they need to succeed in the business world locally, nationally and globally. The government and private companies and organizations recognize the importance of helping women by providing grant opportunities for women and minorities to start their own businesses.
Finding Business Grants for Women
Finding grants can be challenging. The best places to search for women business grants are the government’s website at www.grants.gov and by exploring your local state resources and grant opportunities at your state’s website.
Government Research & Development Grants
Business grants for women that are planning on doing research & development are available through government programs such as Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR). There are also grants available for education, energy, transportation, security, job training and housing. By visiting the SBIR.gov website, you can find funding opportunities for starting a small research and development business. Minority Business Development Agency (MBDA) website page at www.mbda.gov also lists business grants for women.
Tips to Secure Grants
Women should also look for other financing from friends, family, traditional sources such as banks and venture capitalists because grants are not guaranteed. Also, women are encouraged to apply to many different grant opportunities at the same time to increase the chances of receiving a grant to start their own business.
When applying for busness grants for women, applicants should read the funder’s guidelines carefully making sure they are eligible and attach all requested supporting documentation. Most grant programs require that the grantee submit a business plan. It is a good idea to have a business plan prepared by a professional such as a CPA, accountant or attorney. Hiring a team of experts makes you look more credible as well. Be sure to stress your expertise and understanding of the nature of your business and how it can help the community. Corporate funders and organizations provide women business grants as well. Private grants can be located by visiting the donor’s website and downloading their applications. Be sure to submit grants early in case the donor requires additional information. It is also a good idea to register at the donor’s website so you can receive email updates about upcoming grant opportunities.
Free grants, small business loans, matched funding are all ways that women can receive funds to start or expand their business and develop new ideas and technologies. Women are encouraged to become entrepreneurs and grants help them achieve their goals.