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Starting a small business can be tough, but there's help for those who identify as women or members of minority groups. There are grants to help you succeed with your goals and struggling to start your small business as a woman or member of a minority group. #ThinkWithNiche
Starting a small business can be difficult. You need to find a niche, figure out your target market, and deal with the stress of an unforgiving economy.
For those who identify as a woman or member of a minority group, the
process is even more challenging. The odds are stacked against you, and
it can feel like no matter how hard you work, there is someone who will
always look down on you.
However, there are grants for those who identify as women or
members of minority groups that can help ease the burden of starting up
your own small business. Here are some grants that will help with your
goals and struggling to start your small business as a woman or member
of a minority group.
Government Grants for Women and Minorities
The U.S. Department of Commerce is
a great resource for those seeking small business grants. With a
mission of "achieving sustainable economic growth, promoting commerce
and sustaining the environment," the Department of Commerce is serious
about helping startups.
Specifically, the Women's Business Center offers a grant that helps
women with minority-owned businesses to grow and thrive throughout the
United States. The grant offers three options:
1) For those looking to start a new business, they offer funding for
those who need help with financing through the Women's Business Center
or SBA loan program.
2) Women who have been in business for less than five years can use the
grant as a way to grow their business by participating in an intensive
training program called Expanding Your Horizons.
3) Finally, you could use this grant to buy inventory or supplies needed
to start your own company through an Approved Supplier Program or take
part in an international trade show at no cost to you.
Grants for Women and Minorities from Non-Profits
If you identify as a woman or member of a
minority group, some non-profits offer grants to help you start your
small business. If you're having trouble with customers, securing
funding, or identifying your niche, these non-profit grants can help.
The Women's Business Centers (WBC) is one of the best examples of an
organization that offers grants for women and minorities. They provide
free advice on how to start and run your own business. The WBC also
offers training on how to successfully market your business online.
For those who want to start their small businesses but don't know where
to start, this is the perfect place for them. They have resources
available on creating a website, creating marketing plans, and more!
The Growing Need for Small Businesses by Women and Minorities
Women and minority groups face a higher
risk for unemployment, making up 61 percent of those who are unemployed.
The number of women-owned businesses is also lower. In the United
States, only 29.3 percent of small business owners are women, while a
whopping 48.7 percent are white men.
To cut down on this problem, there is a grant that can help you start
your own small business as a woman or a member of a minority group. The
National Women's Business Centers offer grants to help women with
capital, management skills and access to markets and services create
more opportunities for themselves and their communities.
The program offers technical assistance through workshops and individual
counseling or groups for female entrepreneurs from economically
disadvantaged communities to help them become successful entrepreneurs
by overcoming obstacles such as lack of knowledge about business
ownership or how to apply for loans from banking institutions.
Another grant available to females is WINGS For Success, which offers
starter grants to reduce the initial cost burden of starting your own
business for members of historically disadvantaged groups who need
funding to cover costs like license fees, legal fees, permits, equipment
purchase, or other needs related specifically to starting up their own
company.
Conclusion
If you're a woman or a member of a
minority group, some grants can help with your goals and struggling to
start your small business.
Maybe you want to learn how to be an entrepreneur. Maybe you need money
for supplies. Or maybe you're just not sure where to start with your
business. There are grants available that cater specifically to women
and members of minority groups, so take a look at these opportunities
and see what could work for you!
If you're looking for other resources on starting a small business as a
woman or member of a minority group, check out our other posts on this
topic!
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