Home Business Grants for Women – Women today are developing into a more important part of the US economy. It is mentioned a survey that more than 8.3 million businesses in the United States are owned by women. Knowing the tremendous potential of business women there are plenty of home business grants for women available to encourage women in starting a business.
The grants are available in plenty of funding options and different sources. If you are interested in the home business grants for women to start your business you have to be ready to give much effort and be patient as the steps can be long and difficult.
How to Get Home Business Grants for Women
Here are the instructions on how to get home business grants for women:
Write and develop a business plan
This first step is critical in the process of grant searching. Potential funders would like to know that they award the grant to the right person. Besides, they can see it through your business plan. The business plan has to show an in-depth analysis of your home business. For instance, your vision and mission, marketing strategy, target audience, and company structure.
You also have to include detailed information about the company goals and operating costs. Don’t forget to check your business plan for any typing or grammatical mistakes that could jeopardize your chance to be awarded the grant.
Look for assistance through the SBA website
If you are new to the grant-hunting thing then you might like to visit the Small Business Administration or SBA website (sba.gov) for help and information. On the website, you can find a “Loans and Grants Search Tool”. This can help you to search grants resources based on specific parameters you input into the tool.
Have online grant research
Spend some time researching about the grant on the internet could really help your chance of getting the grant. Firstly you can find a grant that is looking specifically for your type and business. Secondly, you can do a small research to get important tips to get the grant by studying about the former winner of the grant.
List of Potential Home Business Grants for Women
Here are the options of home business grants that women can try for the application:
The American Association of University Women
The association provides Career Development grants for aspiring women entrepreneurs. You can contact them at their AAUW national office 1111 16 St. N.W. Washington, DC 2003 800-326-2289 or visit their website at aauw.org.
The Foundation for Women
The Foundation’s mission is to fund to help international and domestic women develop their businesses. For more information about the foundation, you can contact their office at 4747 Morena Blvd. Suite 375 San Diego, CA 92117, 858-483-0400 and website at foundationforwomen.org
The Amber Grants for Women
The Amber Grants for Women, funded by WomensNet, a virtual resource center supporting women in business, are granted monthly, quarterly, and annually. Each month, $10,000 grants are awarded to women business owners in specific categories. For example, skilled trade businesses in January and animal service businesses in July. There is also a nonprofit category, along with two annual grants of $25,000. The application process for Amber Grants is concise, and a $15 application fee applies.
The Tory Burch Foundation Fellowship
The Tory Burch Foundation Fellowship provides a highly sought-after one-year fellowship, including a $5,000 education grant, as part of its comprehensive support for women in business. In addition to the grant, the foundation offers webinars, hosts summits, and assists female-owned businesses in accessing capital through loans and venture capital funding.
Preferred criteria for the program include having an early-stage business and a minimum generated revenue of at least $75,000. The grant is a component of the year-long fellowship, and there is no application fee.
The Dream Big Award
The Dream Big Award, presented by the US Chamber of Commerce, acknowledges small business owners in various categories, including women-owned businesses. The annual award of $25,000 comes with additional benefits such as a free one-year membership to the US Chamber of Commerce and promotional marketing in both video and print formats.
Judging criteria include community engagement and innovative business strategies. To be eligible, businesses should have fewer than 250 employees or gross revenue below $20 million for the previous two years. There is no application fee.
The IFundWomen Johnnie Walker First Strides Grant
The IFundWomen Johnnie Walker First Strides Grant, in collaboration with Johnnie Walker and IFundWomen, provides 10 grants of $10,000 each to trailblazing women-owned businesses aiming to create more opportunities for women.
Along with financial support, the 10 finalists will receive professional coaching. Eligibility criteria include being in business for a minimum of two years and generating an annual revenue of at least $25,000. Notably, businesses involved in alcohol sales or distribution are ineligible.
The IFundWomen Fund Awards
The IFundWomen Fund Awards present a significant opportunity for female entrepreneurs. One grant includes a $100,000 equity investment for a female entrepreneur, while six entrepreneurs will each receive $5,000 cash grants.
Additionally, winners benefit from one year of educational services and access to resources. IFundWomen, a funding platform for female business owners, seeks businesses with a strong digital brand presence and a commitment to making a meaningful impact. The grant is open to a diverse range of businesses, from beauty to tech.
The Fast Pitch Competition
The Fast Pitch Competition offers female founders the opportunity to showcase their startup pitch to an industry audience of founders and VCs. The available fund for grants is $5,000 or $25,000. Winners not only receive financial support but also gain access to professional services, mentorship, and networking opportunities through an online alumni community. The competition, hosted by Women Founders Network, a nonprofit supporting entrepreneurial education for women and girls, occurs annually. Startups in both tech and non-tech categories are eligible, excluding life sciences or cannabis/CBD startups.
While there are notable examples of successful women in leadership roles, the overall representation of women in top executive positions remains relatively low. As of the last available data, women held only around 8% of CEO positions in Fortune 500 companies. Some prominent women leaders you mentioned, such as Adena Friedman, Mary Barra, Carol B. Tomé, and Lisa Su, have made significant strides in their respective industries, breaking barriers and serving as inspirations for future generations of female leaders.
Top-tier business grants are frequently highly competitive due to their substantial funding and extensive promotion within business circles. It is crucial not only to meet the grant criteria and furnish the necessary documentation but also to respond to inquiries truthfully. Keep in mind that you should use clear and concise language that effectively communicates your business’s mission.
References:
- Scholarships for Women: Entrepreneurship Grants and Scholarships (http://www.scholarshipsforwomen.net/entrepreneurship/)
- Grants for Women in Business (https://ambergrantsforwomen.com/)
- Woman’s Day: Start Your Own Business in 5 Steps (http://www.scholarshipsforwomen.net/entrepreneurship/)
- Images: love4bags.co.uk
- (https://www.shopify.com/id/blog/grants-for-women-in-business)
