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Small Business Grants Women - Small Business Grants for Women Offer Female Entrepreneurs Additional Funding for Business Ventures

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According to the U.S. Small Business Association, small businesses are the back bone of the U.S. economy and employ just over half of the private workforce. Traditionally, small business owners have been white men but in recent a recent survey, the Small Business Administration reported that 28% of all small businesses in the U.S. are owned by women. Starting a small business can be a rewarding but expensive venture. The expenses make it prohibitive to start a small business for women. Most small businesses fail in the first two years because of undercapitalization. Most entrepreneurs know about traditional forms of financing including using their private funds, recruiting investors, and applying for loans; however, small business grants designed for women can provide additional financing for a new or expanding business.

Small business grants for women provide female entrepreneurs with money to start or expand their business, and the best part is that the money does not have to be repaid. Because small business grants are considered free money and only a limited number exist, the process for applying for a grant is stringent and competitive. The best place to begin looking for small business grants for women is to look for non-profit organizations that cater to business women. The Federal Government, which encourages women to become entrepreneurs, offers small business grants for women through the Office of Business Women’s Ownership. The Federal Government also has a website that contains a comprehensive list of all grants available from government agencies. Securing a financial grant will make it easier to start a small business for women.

After finding the grant(s) that you’d like to apply for, the keys to winning the grant are thoroughly completing the application and creating an outstanding business plan. The instructions included with the applicant will be very specific and demanding. In order to make sure that you business is a good investment; the grantor will want to be sure that you have a solid business plan and good work ethic. To complete the grant application, you will need to be very detailed oriented. It is imperative that you include all of the information requested and completely fill out every form included in the application packet. Your business plan should include an operating budget, projected revenue, and an understanding of who your target clients are and how you will reach them.

If the thought of completing the grant application intimidates you, it may be wise to consult with a professional grant writer. When interviewing potential grant writers, be sure to ask for information on their educational background and the training they have received. Before you hire a grant writer, ask for references from previous projects and ascertain how much grant money the writer has helped secure in the past. Some grant writers may require at least half of their payment up-front, but you may be able to negotiate payment based on the grant reward. Even if you hire a professional grant writer be prepared to be involved in every step of the process. Although the professional may be well versed in grant writing, they need you to articulate your particular business vision.

Even if you can’t afford a professional grant writer, you may be able to find help with the small business grant process. Professional networking groups designed to help create small business for women are a great resource for new business owners. Once you join the group, look for a mentor who is in a similar business and has experience running a company. Ask members of the group to critique your business plan and give you insight as to where improvements can be made. If all else fails, there are several books available at your local library or bookstore that offer advice on creating a solid business plan and instruction on completing a successful grant application.
Small business grants for women can be a great way to get money for your new business venture. The application process is intense and competitive; but, a strong business plan and attention to detail can help your application stand out from the competition and win the award.

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over 3 years ago

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