Everyone gets excited about the illusion of starting a small business. Automatically seeing yourself raking in six figures and getting featured on the pages of mainstream business magazines till reality kicks in. Starting a small business is not a walk in the park. A more daunting challenge is getting adequate funding or the right capital to launch your startup.
Getting capital is unavoidable but how you go about it matters a lot. To get a loan is a good start but it might set you back on a few bucks along the line especially when the interest rates are high. For women who are looking for funds for their businesses, the best way is to look for free money which is a grant. With a business, you can go to bed rest-assured that you do not have to be in a tight corner. The only condition that comes with a business grant is that you cannot spend the money the way you like. If you apply for a grant for a business venture, the money channels for that specific business venture. To get a grant, you must work for it. Grants are very competitive, and the process of being accepted is like what you go through when applying for admission to a prestigious university.
For a woman-owned business, it is all about knowing where to look to get a grant. These are some of the most genuine grants for a woman-owned business;
- Eileen Fisher Women-Owned Business Grant
- Amber Grant
- Cartier Women’s Initiative
- Open Meadows Foundation
- FedEx Small business grant
- The Halstead Grant.
- #GIRLBOSS Foundation Grant
How can a woman-owned business apply for a small business grant?
Applying for a grant is the biggest question every woman-owned business has had to address at one time or the other. For every small business, the pattern of getting grants usually differ from organizations, but there are some general guidelines to follow when you want to apply for a grant that will be very beneficial to your business. These guidelines include;
Researching your options is very important. Find out which small business grant will be ideal for your business model. Attend business conferences and get opinions from other women who have applied for small business grants.
Check out the requirements needed and see if you are eligible to qualify for a business grant of your choice. The requirements might range from location, age, educational level, and how long your business has been in operation. Researching the requirements will save you the heartache of applying for a grant that will not be the right one for you.
Apply for the small business grants
Map out time in your calendar to apply for the grant you feel will be more suitable for you. For a woman-owned business, the time might not be available, but you will be thankful you did.
It is essential to follow up by using a spreadsheet that has names of the grants you have applied for and track how things are panning out.