Start Your Own Business With These Grants For Women

Reasons To Use A Grant To Start Your Own Business

A grant can be the ideal tool for starting your own business, as it can give you the necessary cash to get started. Best of all, grants are unlike loans since they do not have to be paid back. In other words, a grant is like a gift of free cash to help you get on your feet.

Besides the fact that you don’t have to pay back a grant, there are other reasons to pursue this form of funding. If the grant is significant enough and gives you sufficient cash to start your business, you can avoid taking out a loan with a high interest rate that hits your pockets hard. And with a grant funding your venture, you can also avoid investors who want a piece of your business in exchange for cash.

Business Grants For Women

While this quick guide focuses on grants to help women start their own businesses, you can find grants for other purposes as well. Whether you’re a man, student, etc., simply search for grants online with specific descriptors. You’ll be surprised at what you can find.

With that being said, here are some business grants for women that could help you become your own boss.

The Halstead Grant

The Halstead Grant is the perfect example of just how specific some grants can be. Women (and other genders) who are jewelry designers that work with silver can get $7,500 in startup capital plus $1,000 in merchandise (supplies for your business). Perhaps even more important, winning this grant can give you recognition in the silver jewelry industry that can boost your reputation instantly.

To learn more about the Halstead Grant and how to apply, go here.

InnovateHER Challenge

Each year, the Small Business Administration (SBA) hosts the InnovateHER Challenge. The goal is to find businesses with products that positively affect women’s lives. If your business has such a product that helps women, fills a market need, and can be commercialized, you could win the top prize of a $40,000 grant. The second and third-place prizes are $20,000 and $10,000 grants, which is a solid chunk of change to get your business going.

Click here to see how you can participate in the InnovateHER Challenge.

The Amber Grant

The Amber Grant was founded by WomensNet in 1998. It honors Amber Wigdahl, a woman who died at 19 before getting to start her own business. Each month, WomensNet gives away at least $30,000 in Amber Grants to women looking to make their business dreams a reality. You can learn more about the Amber Grant here.

The Girlboss Foundation Grant

You could win a $15,000 grant from the Girlboss Foundation to fund your business. Only two of these grants are awarded annually, so go here to apply. Beyond the grant, winning this award will also get you tickets to the Girlboss Rally so you can network, plus you’ll get featured on Girlboss.com to promote your business.

The grants above are just one way women can get help starting a business. For more resources, visit the SBA’s page on Women’s Business Centers.