Top 5 Startup Business Grants to Help You Grow Your Business
Starting a business from scratch is never easy, but with the right funding, it becomes a little less daunting. Funding is an essential aspect of startup success, and for entrepreneurs seeking to establish their ventures, accessing grants becomes crucial. In this article, we will explore the top 5 Startup Business Grants to help you grow your business.
1. Small Business Administration (SBA) Grants
The SBA is a government agency that provides various resources to businesses, including funding. They offer grants through partnerships with several government bodies, and their grants are based on a thematic approach, such as innovation and research.
For instance, the Small Business Innovation Research program provides grants to small businesses that conduct innovative research projects. The Small Business Technology Transfer program, on the other hand, promotes scientific and technological innovation among small companies by providing funding to advance research and development.
2. National Association for the Self-Employed (NASE) Growth Grants
NASE is a nonprofit organization that supports small businesses and self-employed professionals with resources and advocacy. The NASE Growth Grants offer financial assistance to small business owners to fund their business needs, such as purchasing equipment, hiring staff, or marketing campaigns.
3. FedEx Small Business Grant Contest
FedEx Corporation offers grants worth up to $50,000 to small business owners through their Small Business Grant Contest. The grant aims to help entrepreneurs expand their existing businesses or launch new ventures.
To qualify, businesses must have been in operation for six months or longer, have fewer than 99 employees, and demonstrate a strong need for funding in areas, such as technology, marketing, and shipping.
4. Amber Grant Foundation
The Amber Grant Foundation is a nonprofit organization that provides $10,000 grant awards to women-led businesses every month. Applicants are required to submit their business story and goals for the grant.
The grant is intended to support female entrepreneurs who face unique challenges in accessing business funding and empower them to grow their businesses.
5. Minority Business Development Agency (MBDA) Grants
The MBDA is a government agency that helps minority-owned businesses to grow and succeed. The MBDA provides several grants geared towards minority-owned businesses, such as the Federal and State Technology Partnership Program and the Minority Business Enterprise (MBE) Inner City Innovation Hub.
The program aims to help minority-owned businesses to access advanced technologies and business services to expand their operations.
Conclusion
In conclusion, startup grants offer a great opportunity for entrepreneurs to obtain necessary funding and grow their businesses. The above-listed grants provide a starting point for entrepreneurs to access funding to support their growth.
While grants can be competitive and require a significant amount of time and effort to apply, the benefits of access to funding can catalyze a business’s exponential growth and set entrepreneurs on the path to success.
