Top Small Business Grants for Women and Minorities
Starting a small business can be tough, but there's help for those who identify as women or members of minority groups. There are grants to help you succeed with your goals and struggling to start your small business as a woman or member of a minority group. #ThinkWithNiche
Starting a small business can be difficult. You need to find a niche, figure out your target market, and deal with the stress of an unforgiving economy.
For those who identify as a woman or member of a minority group, the process is even more challenging. The odds are stacked against you, and it can feel like no matter how hard you work, there is someone who will always look down on you.
However, there are grants for those who identify as women or members of minority groups that can help ease the burden of starting up your own small business. Here are some grants that will help with your goals and struggling to start your small business as a woman or member of a minority group.
Government Grants for Women and Minorities
The U.S. Department of Commerce is a great resource for those seeking small business grants. With a mission of "achieving sustainable economic growth, promoting commerce and sustaining the environment," the Department of Commerce is serious about helping startups.
Specifically, the Women's Business Center offers a grant that helps women with minority-owned businesses to grow and thrive throughout the United States. The grant offers three options:
1) For those looking to start a new business, they offer funding for those who need help with financing through the Women's Business Center or SBA loan program.
2) Women who have been in business for less than five years can use the grant as a way to grow their business by participating in an intensive training program called Expanding Your Horizons.
3) Finally, you could use this grant to buy inventory or supplies needed to start your own company through an Approved Supplier Program or take part in an international trade show at no cost to you.
Grants for Women and Minorities from Non-Profits
If you identify as a woman or member of a minority group, some non-profits offer grants to help you start your small business. If you're having trouble with customers, securing funding, or identifying your niche, these non-profit grants can help.
The Women's Business Centers (WBC) is one of the best examples of an organization that offers grants for women and minorities. They provide free advice on how to start and run your own business. The WBC also offers training on how to successfully market your business online.
For those who want to start their small businesses but don't know where to start, this is the perfect place for them. They have resources available on creating a website, creating marketing plans, and more!
The Growing Need for Small Businesses by Women and Minorities
Women and minority groups face a higher risk for unemployment, making up 61 percent of those who are unemployed. The number of women-owned businesses is also lower. In the United States, only 29.3 percent of small business owners are women, while a whopping 48.7 percent are white men.
To cut down on this problem, there is a grant that can help you start your own small business as a woman or a member of a minority group. The National Women's Business Centers offer grants to help women with capital, management skills and access to markets and services create more opportunities for themselves and their communities.
The program offers technical assistance through workshops and individual counseling or groups for female entrepreneurs from economically disadvantaged communities to help them become successful entrepreneurs by overcoming obstacles such as lack of knowledge about business ownership or how to apply for loans from banking institutions.
Another grant available to females is WINGS For Success, which offers starter grants to reduce the initial cost burden of starting your own business for members of historically disadvantaged groups who need funding to cover costs like license fees, legal fees, permits, equipment purchase, or other needs related specifically to starting up their own company.
If you're a woman or a member of a minority group, some grants can help with your goals and struggling to start your small business.
Maybe you want to learn how to be an entrepreneur. Maybe you need money for supplies. Or maybe you're just not sure where to start with your business. There are grants available that cater specifically to women and members of minority groups, so take a look at these opportunities and see what could work for you!
If you're looking for other resources on starting a small business as a woman or member of a minority group, check out our other posts on this topic!