Grants for Women-Owned Business You Need to Know About
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Women-owned businesses are a force to be reckoned with in this country. In 2017, there were 11.6 million employing more than 9 million people and generating $1.7 trillion in sales.
What’s more, there is still plenty of room for women to continue to pursue their dreams of owning a business, and a variety of incentives – such as grants – to help them do so. Here are just some of the funding opportunities that are available:
This Small Business Association (SBA) initiative awards $30,000 to three women-owned businesses deemed to have the most positive impact on women’s lives. Past winners include LIA Diagnostics, which developed a pregnancy test that’s more discreet, easier to use and environmentally friendly.
Eileen Fisher Women-Owned Business Grant Program
Only 100% women-owned businesses are eligible for these grants, which reward companies founded on the principals of social consciousness, sustainability and innovation. Grants are earmarked to fund further growth.
Huggies Brand – Mom-Inspired Grants
Up to $15,000 is available to up to 12 moms to fund research and development for new products inspired by motherhood. Additional resources for start-up funding and product development are also available.
Walmart Women’s Economic Empowerment Initiative
The nation’s retail giant also represents a huge opportunity for women-owned businesses. Over the next several years, Walmart has committed to providing support as part of an overall sourcing initiative.
FedEx Think Bigger – Small Business Grant
Grant applicants are judged on their visions for the future and can receive a portion of up to $75,000 provided annually. Judging includes public voting for finalists, so entrants are encouraged to promote their businesses in order to capture a greater share of votes.
Small Business Innovation Research
A collaboration of eleven federal agencies make these grants possible. They award small businesses with funds to explore and expand their technological potential.
To increase your chances of receiving a grant, it pays to understand the application process thoroughly, including cut-off dates for submitting your paperwork and other time-sensitive deliverables.
Most entry forms will spell these guidelines out clearly and offer personal assistance, if needed. Of course, the sooner you begin the process, the more time you’ll have to submit a thorough – and possibly winning – application.