As much as you want to grow an existing business or start one, you need finance for different purposes, such as funds to buy pieces of machinery. Starting and managing a small business in Nevada is not an easy task. This is because, in the state of Nevada, over $35,230,015,000 is paid for employee salaries and payroll. Also, more than 30,000 businesses are annually declared. Although there are available government grants for both women and other minorities, in this article, we shall look into Nevada and Clark County small business grants as one of your sources for business startups.
What Is a Startup Small Business Grant?
A startup small business grant is monetary funding given to entrepreneurs by the government or private individuals or companies to start and grow their business. They are also known as free money. It doesn’t require collateral, interest, or payback, unlike loans.
Moreover, some grants come with rules that decide how you can spend them. For instance, if you applied for a grant that was to be used for machinery or pieces of equipment and, thus, you diverted the money to money to pay your team instead of the actual purpose of that fund, then you may have to repay the funds. Failure to comply with the stipulated rules may be guilty of fraud.
Nevada Small Business Grants For Startups
As mentioned above, the only thing that keeps your business going irrespective of your ideas is money. Therefore, getting started, growing, or developing your business, demands a lot of effort. However, each state and the local government often offer resources for grants and incentives for operating under their control. Meanwhile, in Nevada, there are also other agencies that are willing to offer startup small business grants.
However, this can only be achieved if you know where to look and how to apply.
In addition, before you spend out time and energy in searching and applying for a small business startup grant, there is a need to understand what criteria these grants look for and decide if it suits your kind of business.
Read Also: California Small Business Grants: Top 13+ picks for Minorities & Veterans (+ Application Guide)
Besides, there are startup small business grants available for specific business types and owners, such as:
- Women, veterans, or minority-owned businesses.
- Nonprofit organizations
- Green businesses
- Rural businesses
- Innovators
How Do You Apply for a Startup Small Business Grant?
In Nevada, obtaining small business grants for a startup may be challenging. There are things that you need to do that will increase your chances of winning. Once you find the grant that best suits your business, never rush the process. Do thorough research.
Read Also: 7 Small Business Grants Applications 2022
Clark County Nevada Small Business Grants
Small businesses in unincorporated Clark County can now apply for up to $30,000 in grant funding to pay rent, utilities, inventory, as well as payroll.
Small businesses with 25 to 50 employees can apply for up to $30,000 and establishments with one to 24 workers can seek out up to $15,000.
The application for this grant is currently not available. Business operators must have a county business license and be able to show financial hardship amid the pandemic. Priority will be given to those who have not yet received small business grants from Clark County, Nevada.
Nevada Small Business Grants For Women
In Nevada, in order to help women entrepreneurs succeed, some government agencies, nonprofits, and private organizations provide small business grants. Therefore, you should have a sizable number of grants to apply for. Be careful of your choices and do proper research into the eligibility requirements. Here are a few Nevada small business grants for a startup.
#1. Amber Grant
- The Amber Grant is a small business grant for women business owners created in honor of a young woman who died before she could fulfill her entrepreneurial dreams.
- How to apply: Tell your story and pay a $15 application fee.
- Potential benefits: The program awards one $10,000 grant to a female business owner each month. The winner will also be awarded an additional $25,000 at the end of the year.
#2. National Association for the Self-Employed (NASE) Growth Grants
These grants are awarded to any small business owner who is a NASE member and can demonstrate a specific need for the money.
How to apply: Apply online at the NASE website.
Potential benefits: Multiple grant prizes of $4,000 each
#3. Eileen Fisher Women-Owned Business Grant Program
They offer Small business grants for businesses making positive social and environmental impacts.
How to apply: Complete the application online.
Potential benefits: A maximum of $40,000 per recipient each year.
#4. Cartier Women’s Initiative Award
This is a grant awarded to 18 female entrepreneurs around the globe each year.
How to apply: Follow the application instructions here.
Potential benefits: All 18 finalists will receive either the first prize of $100,000 and one-on-one mentoring or a second prize of $30,000 in prize money.
Nevada Small Business Government Grants
Unfortunately, typing “startup small business grants” into your search engine won’t necessarily provide you with an up-to-date or complete list of available grants organized by business type. However, you may be able to find grants for your small business by visiting specific websites and organizations, such as those listed below
- National Association for the Self-Employed (NASE)
- FedEx Small Business Grant Contest
- Grants.gov
- Minority Business Development Agency (MBDA)
- Asian Women Giving Circle
- SBIR.gov
- Small Business Development Centers
- USDA Rural Business Development Grants
Incentives
Incentives from the state of Nevada include sales tax exemptions on capital equipment purchases, sales and use tax deferral on capital equipment purchases, exemptions from personal and modified business taxes, real property tax exemptions for recycling, help with the cost of intellectual property development, and employee training grants.
- Foreign Trade Zone- Northern Nevada
- Foreign Trade Zone- Southern Nevada
- Governor’s Office of Economic Development
Other Nevada Small Business Grants
AAPISTRONG: Small Business Grants (Closes July 26th)
APPISTRONG Small Business Grants is offering 100 cash grants to AAPI-owned small businesses as part of its AAPISTRONG initiative. They can support the ambitions and accelerate the development of AAPI entrepreneurs around the country by offering financial grants and other beneficial tools.
Through this program, participants have the chance to have access to financial aid and other resources from dependable organizations and partners that are dedicated to the growth of Asian American and Pacific Islander American-owned small companies.
Deadline
Submissions End on July 26, 2022
Winners will be announced in October 2022.
Nevada Women’s Philanthropy Grant
In order to meet the needs of the larger Las Vegas community, Nevada Women’s Philanthropy (NWP), a member-driven, pooled-fund, major impact grantmaking organization, was founded. Women who are philanthropically driven and who share a strong desire to address new issues confronting our community in the fields of the arts, education, environment, social services, and health make up our membership.
Since its founding in 2005, NWP has given more than $6 million to charitable organizations in the Las Vegas area. A maximum of 120 women may join each year. It is a nonprofit with just volunteers.
Conclusion
One of the best sources of small business grants is mostly from corporations that want to give back to the community members. However, If you want to win grants, you’ll need to take it seriously in order to beat out the competition. Apply as much as you can. Also, don’t be afraid to apply to smaller ones, because they often have less competition than the bigger ones.
For small businesswomen, I encourage you to visit your local Women’s Business Centers. They will be able to give you additional grant opportunities or help you find an alternative funding scheme. Lastly, although grants seem the best option for small business startups, if it doesn’t work for you, please consider loans as an alternative. What works for Mr. A might not Work for Mr. B.
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Disclaimer!
The pieces of information contained in this article are for educational and informational purposes only. Relying upon this information is at your own risk. Meanwhile, with the tips listed above, you can also invite an expert to help you out.
Nevada Small Business Grant FAQs
How can I get free money to start a small business?
Small-business grants are available from state and federal institutions as well as from private businesses. Your local Small Business Development Center, the government database Grants.gov, and nonprofit organizations like the Local Initiatives Support Corp. are a few useful areas to start your search.
Does Nevada have government assistance
Yes, they do. However, you must be a Nevada resident, a citizen of the United States, a legal alien, or a qualified alien in order to qualify for Nevada Family Assistance. You must be unemployed, working part-time, or making a very modest salary.
