Government programs fund grants for women starting a business, with various types available based on business type and qualifications. Non-profit, research/education, and minority women’s grants are examples. Research-based businesses may combine education and government grants, while minority women may qualify for specific grants and support services.
Grants for women starting a business are primarily funded through government programs. The different types of grants for women starting a business are based on the type of business and the candidate’s qualifications. Nonprofit business grants, research or education grants, and minority women’s grants are examples of the different types of grants available to women entrepreneurs.
Non-profit businesses such as animal shelters, day care centers and research organizations can find grants for women starting a business through regional public offices and other non-profit organizations. If the new business plan includes the need for additional education or research, there may be special educational grants for qualified women. In the US, the Small Business Association (SBA) cannot provide grants to small businesses, but it can – through its mentoring and training programs – provide money to non-profit and educational businesses. Some regional public offices and non-profit organizations also authorize small business donations to environmental and sustainability businesses and businesses that can help develop the regional tourism sector.
Government grants are available to companies involved in scientific research and development, especially if there is great promise for commercialization. As of 2011, the SBA offers two programs, the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (SBTT). Several federal agencies support research and development (R&D) projects for eligible female entrepreneurs interested in scientific research; however, government funds are highly competitive. Research grants are generally intended to fund a specific project or area of development. Check the websites of government offices, non-profit organizations, and universities to learn about criteria for granting money.
There may be ways to combine two types of grants for women starting a business in the research industry. In general, a research business plan should require ongoing education and training expenses to maintain a high level of expertise. Education grants can be approved for research-based companies. In addition, government research grants can support the high start-up costs associated with a research facility.
If a company does not qualify for educational or nonprofit funding, there are other types of grants that favor minority applicants. Owning a business alone is enough to earn consideration as a minority woman, and there are grants specifically for minority women. Assistance for minority business owners goes beyond free money to include free business development and consulting services and valuable support. There are also benefits to working with other minority-owned businesses.
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