As a business owner, you may have heard of the term “business grants” before, but you might not be sure what it means or where to find them. Business grants are a type of funding that is offered to businesses by government, non-profit organizations, or private organizations. In this post, we’ll look at the top 5 business grants you need to apply for.
1. Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR)
The SBIR and STTR programs are government grants that are specifically designed to support research and development of new technologies by small businesses. The SBIR program awards around $2.5 billion in grants each year, and the STTR program awards around $1 billion.
2. Minority Business Development Agency (MBDA)
The MBDA is a government agency that provides grants to minority-owned businesses to help them grow and thrive. The MBDA offers grants ranging from $25,000 to $300,000. These grants can be used for a variety of purposes, including business development, capacity building, and marketing.
3. The National Association for the Self-Employed (NASE) Growth Grants
The NASE Growth Grants are offered by the National Association for the Self-Employed. They offer these grants to their members who are small business owners. The grants can be used for a range of business expenses, including marketing, hiring employees, and purchasing new equipment.
4. FedEx Small Business Grant
The FedEx Small Business Grant is designed to help small businesses grow and succeed. The FedEx Small Business Grant awards $50,000 in total to 10 different businesses each year. The grants can be used for a variety of business expenses, including marketing, purchasing equipment, and hiring employees.
5. Economic Development Administration (EDA)
The EDA offers a variety of grants to businesses that are looking to grow or expand. The EDA’s grants can be used for a range of business expenses, including infrastructure improvements, job creation, and innovation.
In conclusion, there are a variety of business grants available to small business owners, but these top 5 grants are great options to consider. As a business owner, it’s important to research and find the grants that best fit your business needs and goals. Once you have identified the grants you want to apply for, ensure to follow all the application guidelines and submit your application before the deadline. Good luck!
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