Small businesses across the globe face a peculiar problem of growth, expansion, and capital. However, money and funding are usually the roots of this problem. Hence, the need for big grants. Big grants available for small businesses across the globe are listed below.
Grants, however, do not possess magical powers to solve growth or capital problems automatically. So, a detailed business plan should be in place to prevent the misappropriation of funds.
#1. National Youth Entrepreneurship Empowerment Summit
NYEES is an initiative targeted at empowering youths with the skills that will enable them to develop the country’s infrastructure. The first edition took place in Abuja in the year 2019.
Furthermore, Participants are subjected to seminars, plenary sessions, training, and more importantly, they get to present strategic business ideas to access the grant.
Finally, the top ten participants receive grant money worth 1 million naira each.
Eligibility
- Your businesses must focus on any of the following areas: ICT, Hands and Craft, Fashion, Film and Entertainment, New Media, Theatre, and Architecture.
- You must reside in Nigeria, your business, inclusive.
- You must be a youth between the ages of 18-35.
How to Apply
- Make a 60-seconds video showing your business ideas.
- Upload the video on social media using the relevant hashtags: #NYEESCRATIVES #NYEES
- Tag and follow @NYEEDSummit.
#2. Bank of Industry Youth Entrepreneurship Support Program
Another big grant available for small businesses in Nigeria is the BOI. This initiative aims at mentoring, training, and funding innovative business ideas for young Entrepreneurs.
Furthermore, the Youth Entrepreneurship Support Program also tries to tackle the rate of unemployment among Nigerian Youths.
However, applicants will have to undergo eight weeks of extensive business and entrepreneurship training online.
Eligibility
- Applicants should possess a minimum qualification of OND.
- Must present an innovative business idea located in Nigeria.
- Must be between the ages of 18-35.
How to Apply
Visit the YES-P Registration portal to apply online.
Read Also: Mistakes You Should Avoid As A StartUp Entrepreneur
#3. I-Startup South-West Programme
i-Startup Southwest program is a social-based initiative intended to boost the rate of development in the country by making grants available for Small businesses.
However, the program only accepts applications from tech entrepreneurs and startups whose objective is providing solutions to problems in ICT, the Digital Oil Field, and Agriculture, with the use of technology.
Also, winners undergo intensive training, after which N2 million grant money is awarded.
Eligibility
- State of residence must be located within the Southwest region: Ogun, Oyo, Ondo, Osun, Lagos, and Ekiti.
- The business idea must be a solution to problems in ICT, Digital Oil Field, and Agriculture, with the use of technology.
- Businesses must be commercial.
#4. The US-African Development Foundation
The US-African Development Foundation, regardless of its origin, tries to make grants available for small businesses in Africa. Also, it provides funds and technical support to development-based ideas and initiatives in Africa.
Furthermore, this grant focuses on organizations and small businesses whose goal is to impact their local environs positively. Besides, beneficiaries receive up to $250,000 grant money.
How to Apply
Visit the US-African Development Foundation Official Website to submit applications.
#5. Africa Netpreneur Prize
The Jack Ma Foundation, whose founder is Jack Ma of Alibaba Group, funds this initiative intending to make grants available for small businesses in Africa.
Furthermore, this grants neither race, age, nor gender-dependent. In other words, there are basically no restrictions concerning this grant. Plus, the top 10 winners get $100,000 each.
Eligibility
Only open to small businesses and Entrepreneurs across the 54 countries in Africa.
How to Apply
Visit the website to apply online.
COVID-19 Small Business Relief Grants
There are grants available to help small businesses cope with the effects of the coronavirus epidemic. Keep in mind that many of these programs close, and some open new rounds of funding, so make sure to check with each one for the most up-to-date information.
#1. Shuttered Venue Operators Grants
The Shuttered Venue Operator Grant (SVOG) program is now closed, but the SBA says it would reopen it for extra SVOGs worth 50% of the original grant value, up to a total of $10 million.
Among the businesses that are eligible are:
- Promoters or operators of live venues
- Stage Plays Producers
- Live Performing Arts Organizations Operators
- Operators of relevant museums, zoos, and aquariums that meet specified criteria
- Operators of movie theaters, or
- Representatives for artists
#2. Fiserv Back2Business Grant
Fiserv has teamed up with the Association for Enterprise Opportunity and Clover to provide $10,000 awards to eligible black and minority-owned small companies who have been wrecked by COVID-19 and the recession that has followed.
Your business must meet the following criteria to be considered:
- Become a minority-owned company.
- Be owned by an adult (18 years or older).
- Have annual revenue of less than $1 million
- Have fewer than 11 people working for you?
- Start a company on or before January 1, 2020.
- Be situated in a location that qualifies (currently, Oklahoma, Texas, and Detroit)
#3. New York State COVID-19 Pandemic Small Business Recovery Grant Program
If your company is based in New York and has experienced losses as a result of the epidemic, you may be eligible for this grant. Grants starting at $5,000 and can go up to 10% of gross receipts, up to $50,000, and are based on yearly gross receipts beginning in 2019.
Small Business Grants from the Private Sector
The following are not particularly COVID-19 options.
#1. FedEx Small Business Grant Contest
A good fit for existing businesses.
FedEx has been awarding $25,000 awards to businesses every year since 2013. The application is only open for a month, so get your applications ready for the next round of submissions. You’ll need to use video to tell your company’s story.
#2. National Association for the Self-Employed (NASE) Growth Grants
A good fit for growing businesses.
NASE Growth Grants are available to NASE members who want to expand their firm. NASE subsidies are valued up to $4,000 and can be used for a variety of purposes, including the purchase of new equipment, the hiring of support, and the creation of promotional materials.
#3. The StreetShares Foundation Veteran Business Grant
A good fit for Veterans.
Veterans, active-duty members, and spouses of military veterans or active-duty members are eligible for the StreetShares Veteran Small Business Award. Applicants can receive up to $15,000 in funding and will be judged on their company idea, planned use of money, product-market fit, team, and impact on the veteran or military community.
#4. Nav’s “Legitify Your Small Business” Grant
A good fit for existing businesses.
Nav awards a $10,000 small business grant every quarter to assist them to solve a business challenge or grow their company.
#5. Caleb Brown Urban Entrepreneur’s Community Grant
A good fit for community businesses.
The Caleb Brown Venture Capital and Consulting Project is offering a $1,000 award to promote and nurture young urban entrepreneurs with vision who want to improve their neighborhoods, cities, and communities “by providing training and jobs to the future generation.” Startups and fledgling firms in metropolitan areas are eligible for the funding. This contest is held once a month; to enter, submit your application by the 15th of the month.
#6. Halstead Jewelry Grant Award: Good For: Jewelry Startups
Do you work as a jewelry designer? If that’s the case, send your portfolio and business plan to Halstead for a $7,500 jewelry grant. In addition to providing funding, Halstead hopes to assist jewelry artists in growing their businesses, fine-tuning their ideas, and achieving their objectives.
9 Small Business Grants from the Federal Government
Small company grants are also available from the federal government.
#1. Small Business Innovation Research Program
A good fit for Companies in the technology sector.
The government SBIR grant program is for entrepreneurs who are working on technical discoveries that have the potential to be commercialized. You can find out more about its financing opportunities here. Clean and safe water, homeland security, land restoration, green building, health care advancement, and other issues have all been focal points in the past.
#2. Small Business Technology Transfer Program
A good fit for businesses that are focused on energy.
The STTR program attempts to increase funding for cutting-edge research and development by utilizing current technology. Small businesses have the opportunity to formally partner with research institutions throughout the program, which sets it apart from the SBIR program. Each agency has its own set of rules; for open STTR grants, visit their official website.
#3. Department of Defense Grants
A good fit for R&D companies.
Small businesses can apply for grants from the Department of Defense through the STTR program and other initiatives such as the Defense Enterprise Science Initiative. The Office of Naval Research, the Air Force Office, and the United States Army Research Institute are all looking for technical research and development to help them achieve their objectives.
#5. Department of Energy Grants
A good fit for companies that are involved in cutting-edge technology.
The SBIR and STTR programs of the DOE provide funding for creative research and development that uses technology generated by a university or a DOE National Lab.
#6. National Institute of Health (NIH) Grants
A good fit for businesses in the biomedical field.
The National Institutes of Health (NIH) is a government organization within the Department of Health and Human Services (HHS). Small businesses producing and researching biomedical technologies can apply for grants. It is now looking to fund opportunities for COVID-19 research.
#7. Department of Justice Grants
A good fit for projects involving public safety.
The Department of Justice (DOJ) awards grants to projects that support law enforcement, public safety, and criminal justice reform initiatives, among other things.
#8. Department of the Interior Grants
A good fit for a wide range of businesses
The US Fish and Wildlife Service, Indian Affairs, the National Park Service, and the Native American Graves Protection and Repatriation Act are just a few of the departments that give small business funding through the DOI. Grants.gov has more DOI grant options.
#9. USDA Rural Development Business Grants
A good fit for small rural businesses.
The Department of Agriculture provides both loans and grants to help rural businesses create good jobs. It provides funding for community projects such as home development, community amenities, and other services.
#10. National Institute of Food and Agriculture (NIFA) Grants
A good fit for agriculture and food-related non-profits.
The National Institute of Food and Agriculture (NIFA) is a government institution within the USDA that focuses on leadership and program funding. It provides funds all year long, along with support and direction. Keep in mind that many of the funds are only available to organizations and larger corporations.
How to Find a Grant for a Small Business
A basic Google search for business grants will provide millions of results. There are so many alternatives out there that it sometimes seems impossible to narrow them down. However, there are a few tools that can not only aid you in finding the right grants for your company.
Grants.gov
Who wouldn’t want a slice of free money from the government? Grants.gov is the federal government’s one-stop-shop for all federal grants from all agencies. It’s a great place to look for grant opportunities, but small firms may be frustrated to learn that many of them are closed to them.
You’ll have to dig through the grants for school systems, local governments, people, and NGOs on the site to locate the ones that are perfect for you. Furthermore, when it comes to the size of a business, the government subsidies accessible to small enterprises have specific restrictions.
If it appears that obtaining a business grant, particularly one supported by the government, is difficult, it is. The federal government utilizes the following general rules and conditions to assess business grant eligibility:
- Starting a business does not qualify for a grant.
- Grant money is not available to help a company pay off debt or cover operating costs.
- Grants from the federal government to states and municipal governments more likely to be issued to groups that help with economic development.
GrantWatch
GrantWatch is another database of grants of all types, however, it’s a subscription-based service that you’ll have to pay for. Grants from the federal, state, and local governments, as well as foundations and corporations, are included on the site. The site is updated on a regular basis, and grants that have ended are archived.
You can narrow down the more than 25,000 grants available by category to find ones that are specifically for small businesses like yours.
Small Business Development Centers
After you’ve exhausted your federal grant options, local and state business grants should be the next stop on your list. You might be able to strike gold and locate some of these on your own, but there is a free, local resource that can assist you.
The best friend of a business owner is a Small Business Development Center. Small company owners are mentored by local, regional, state, and national agencies, which help them comprehend business finance alternatives, develop marketing plans and interact with other local business owners (among other things).
They can assist you in navigating the grant application procedure, for example. On the local business grant scene, few persons have as much visibility as SBDC advisors. When looking for small company funding, it’s the one appointment you can’t afford to miss.
SCORE.org
SCORE is a nonprofit organization supported by the Small Business Administration that provides free tools and mentoring to small business owners in the United States. SCORE, like SBDCs, is a free resource for entrepreneurs seeking assistance or knowledge, and they have a number of local specialists with whom you can connect. A SCORE mentor can assist you in locating local grant opportunities or reviewing your pitch to make it more convincing.
Other Grants for Small Businesses
Here are a few examples of other big grants available for small businesses.
#1. 500 Global Flagship Accelerator Program
The 500 Global Flagship Accelerator program provides funding to startups and small businesses on a continuous, year-round basis. Since 2010, businesses have been able to participate in a four-month accelerator program in San Francisco in exchange for a $150,000 investment. The company’s website contains the application rules.
#2. The Barstool Fund
The Barstool Fund is a non-profit organization that aims to help people who This incentive is for COVID-19-affected small enterprises who retained many employees during the epidemic and have a track record of success. Winners are selected on a rolling basis, so apply now for a chance to get financing for your company.
#3. Small Business Loans from Business Warrior
Business Warrior understands how tough it can be to acquire a loan approved through regular banking channels. Business Warrior is donating $5 million to small business owners to help them gain access to funding. They would provide loans ranging from $5,000 to $50,000 without the hefty interest rates that cash advance firms typically demand.
#4. GoFundMe Small Business Relief Fund
This is a crowd-funding platform that allows people to donate money to help small businesses The Small Business Relief Fund on GoFundMe will match $500 grants to qualifying small businesses that have been harmed by COVID-19 and have raised at least $500 through a GoFundMe campaign.
GoFundMe, as well as companies like Intuit QuickBooks, Yelp, GoDaddy, and Bill.com, are supporting the effort. Small company owners who already have a campaign can use the hashtag #SmallBusinessRelief and confirm their business by filling out its form.
#5. Hello Alice Small Business Growth Fund
Hello Alice, the year 2023 has been designated as the year of your small business! They will award $5,000 grants from the Hello Alice Small Business Growth Fund to help small business owners in the new year. They’ll also provide virtual events with entrepreneurs and business advocates, as well as professional advice on how to develop a strategic plan for your company in 2023. On their website, you may find applications and eligibility conditions.
#6. Walmart Local Community Grants
Local organizations can get funds from Walmart and Sam’s Club locations through this small business award. Grants are available in amounts ranging from $250 to $5,000. The application date is December 31, 2021.
What Are 4 Types of Grants?
- Competitive Grants – Based on the Quality of Your Proposed Project…
- Formula Grants: Predetermined Awardees…
- Grants of Continuation – Renewal of an Existing Grant…
- Federal Agencies Provide Pass-Through Grants
How Do I Ask for a Grant?
- Find prospective grant recipients…
- Periodically visit the websites of your selected grantmakers…
- Call the responsible party to verify your eligibility…
- Prepare a grant proposal or intent letter.
- Follow the grantor’s application instructions to the letter.
Why Do Grants Get Denied?
Most proposals are turned down for a surprising small number of simple and well-known reasons: The submission deadline wasn’t met. The topic of the proposal did not fit with the funding agency to which it was sent. Guidelines for the length, format, and/or content of the proposal were not exactly followed.
What Should I Say on a Grant Application?
The description should include your goals, your estimated timeline, how you’ll measure your progress, and how you’ll know when you’ve done a good job. Pay attention to how your work will affect the given issue. Budget. In this section, you should explain why you want money.
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