{"id":14864,"date":"2023-07-27T04:22:00","date_gmt":"2023-07-27T04:22:00","guid":{"rendered":"https:\/\/businessyield.com\/?p=14864"},"modified":"2023-10-31T10:50:30","modified_gmt":"2023-10-31T10:50:30","slug":"texas-small-business-grants","status":"publish","type":"post","link":"https:\/\/businessyield.com\/grant-opportunities\/texas-small-business-grants\/","title":{"rendered":"TEXAS SMALL BUSINESS GRANTS: Best Tips to Becoming Beneficiaries","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

In Texas, starting and effectively managing a small business is not an easy task. Annually, over 57,810 businesses declare bankruptcy in Texas. However, the federal government does not publicly provide grants for starting and expanding a business. But in the state, some small business grants can be given to business owners to start and grow their ventures. These Texas small business grants are open to different categories of recipients, including minorities and veterans. Also, there are small business grants offered in 2023 that are currently ongoing in Austin, Texas. These grant recipients don\u2019t have to pay back the funding from the government. Therefore, it makes sense to look into small business grants as one of your sources to fund your business.<\/p>\n

In Texas, the majority of the federal budget in government grants is put into the business sector every year. Over $55,671.00 million in grants and additional local government funding sources of $35,330.00 million will be put into the business sector. This is because small businesses and large corporations are the basic foundation of economic growth in Texas.<\/p>\n

So, even those in the farming industry may be eligible to apply for small business grants as well. There are more than 247,000 farms in the state of Texas.<\/p>\n

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Texas Small Business Grants for Minorities<\/span><\/h2>\n

Minority business owners face diverse challenges when starting or expanding a small business. These challenges facing minorities include access to affordable small-business grants and loans. However, business grants and financial assistance can help close the funding gap.<\/p>\n

Here are some of the specific Texas small-business grants and resources for minorities in 2023.<\/p>\n

#1.\u00a0The USDA Rural Business Enterprise Grant Program<\/h3>\n

This grant is for the development and expansion of small businesses in rural areas of Texas, whether they are minority-owned or not. To be eligible, you\u2019ll need to have 50 or fewer employees and less than $1 million in revenue. Also, you have to be located in an eligible rural area<\/a>.<\/p>\n

Generally, these grants range from $10,000 to $500,000. So we can use them for different purposes. Applications are accepted through the USDA\u2019s Rural Development\u2019s state offices<\/a> annually.<\/p>\n

#2.\u00a0Minority Business Development Agency<\/h3>\n

They enhance the growth of minority-run small businesses by connecting owners to financing resources, federal contracts, and market opportunities. You can also contact a local MBDA business center<\/a> for more information.<\/p>\n

#3.\u00a0National Minority Supplier Development Council<\/h3>\n

This is a corporate member organization with a focus on increasing business opportunities for certified minority-owned businesses<\/a>. They do this by providing small business grants for the minorities in Texas. Hence, it operates the Business Consortium Fund<\/a>, a nonprofit business development program. So, they offer financing programs and business advisory services for their members.<\/p>\n

#4.\u00a0SBA 8(a) Business Development Program<\/h3>\n

Socially or economically disadvantaged small-business owners are eligible to receive help through this SBA 8(a) program<\/a>. It provides business development assistance, training, and management.<\/p>\n

To qualify, a small business must be at least 51% owned and controlled by a citizen who has been subjected to cultural bias. Also, you must be at an economic disadvantage because of race or ethnicity. Here is a list of eligibility requirements<\/a>.<\/p>\n

#5.\u00a0Operation Hope Small-Business Empowerment Program<\/h3>\n

This\u00a0is designed for aspiring entrepreneurs in low-wealth neighborhoods. This often includes minority communities. The program combines business training and financial counseling along with access to small-business financing options. Hence, participants complete a 12-week training program, plus workshops on business financing and credit and money management.<\/p>\n

However, Grants.gov<\/strong><\/a>\u00a0allows grant seekers to find and apply for federal funding opportunities. It contains information on more than 1,000 grant programs across all 26 federal grant-making agencies.<\/p>\n

To be eligible for federal grants, you must obtain a DUNS number from Dun & Bradstreet (a unique nine-digit identification number) for your business. You will also register to do business with the U.S. government through its System Award Management website<\/a>. Then you can create an account at Grants.gov.<\/p>\n

Texas Small Business Grants for Veterans<\/span><\/h2>\n

Veterans who are currently residing in the state of Texas may be eligible to apply for various types of veteran small business grants and benefits. According to the local military office in Austin Texas, to be eligible for small business veterans grants in 2023:<\/p>\n