Starting and growing a business may be challenging, particularly for single mothers who often face additional obstacles when trying to secure funding and resources. Fortunately, a plethora of small business subsidies and other incentives are available, specifically designed for businesses owned and operated by single mothers. Additionally, there are other award programs that are just available to Black female entrepreneurs.
An Overview of the Awards Given to Unmarried Mothers.
Understanding the many grant opportunities is essential for providing money for small businesses run by women. These awards may have modifications to their eligibility requirements, award levels, and application processes. Some grants may be limited to specific industries or stages of a company’s development, while other grants may be open to a broader range of applicants. Moreover, non-profit groups led by women are eligible for financing. The main grant categories available to women who own small companies are as follows:
1. Federal funding: The government provides this money, which is used for programs like the Small Business Administration (SBA) grants and the Minority Business Development Agency (MBDA).
2. State grants: Many states provide grant programs for small businesses, which may include funding for businesses managed by women.
3. Local grants: Cities and counties may be able to provide financial assistance to small businesses, particularly those headed by women.
4. Industry-specific awards: Some programs concentrate on certain industries, such as technology, manufacturing, or agriculture.
5. Funding for nonprofit organizations: Some grants are only meant for organizations headed by women.
List Of Grants For Small Businesses For Single Moms
- Amber Grant
- Women’s Initiative Award from Cartier
- Initiatives for Technology Transfer and Innovation Research for Small Businesses
- FedEx Small Business Grant
- Growth Grants from the National Association for the Self-Employed (NASE)
- Fast Pitch Competition – Women Founders Network
- The Universal Grant Application Database of IFundWomen
- Grant Halstead
- Fast Break for Small Companies
- Fund for Red Backpacks
- Investors in Microentrepreneurs Program (PRIME)
- Centers for Women in Business (SBA)
- Administration for Economic Development
- Small Business Development Centers (SBDCs)
- Office of Women’s Business Ownership (OWBO)
- Business Development Program
- Women-Owned Small Businesses (WOSB) Federal Contract Program
- National Women’s Business Council
- Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE)
- Ms. Foundation for Women
- Tory Burch Foundation Fellows Program Grants
- The Dream Big Awards
- 37 Angels
- The Girlboss Foundation Grant
- Eileen Fisher Women-owned Business Grant
- State Trade Expansion Program (STEP)
- Challenge.gov Competitions
- State Business Incentives Database
- American Association of University Women (AAUW)
- Amber Grant
The Amber Grant Foundation offers a unique chance for female entrepreneurs with its monthly award program. The charity awards two $10,000 scholarships to different women-owned businesses every month. At the conclusion of each year, two of the 24 monthly grant recipients get an extra $25,000. Additionally, the foundation offers a variety of other grants throughout the year. The application process is quite simple; applicants only need to send in a $15 application fee, provide a description of their company, and describe how they will use the grant money. The advisory committee of the foundation chooses the winners, looking for driven women with compelling histories. It’s also a great option for women looking for startup business subsidies because the company doesn’t have any time requirements. Applications are welcome from US and Canadian-based businesses.
2. Women’s Initiative Award from Cartier
The Cartier Women’s Initiative Award program, an annual endeavor, aims to support women-owned businesses that prioritize improving social, economic, and environmental circumstances in their early phases. Companies in nine different world areas will receive three awards apiece. The winning enterprise receives a grant of $100,000, second place receives $60,000, and third place receives $30,000. A variety of training programs and executive mentoring are also available to winners.
3. Initiatives for Technology Transfer and Innovation Research for Small Businesses
The Small Business Administration (SBA) facilitates these two competitive programs, which provide grants to small businesses that assist government R&D. Eleven federal agencies, including the Departments of Agriculture, Defense, and Health and Human Services, provide business grant opportunities on their websites. Entrepreneurs interested in applying for funds should check the SBIR website. To be qualified, the business must fulfill further requirements and operate as a for-profit enterprise with no more than 500 workers.
Businesses can set goals for research and development by applying for a $150,000 grant through the Small Business Innovation Research program. Funding of up to $1 million may be given out over a two-year period.
Under the Small Business Technology Transfer program, qualifying companies can receive up to $250,000 during the program’s initial phase and an extra $750,000 if research results show promise.
4. FedEx Small Business Grant
The FedEx Small Business Grant program awards up to $50,000 in grants to ten small businesses annually. In 2022, there was a prize fund of over $300,000 available for the tournament. The winners receive a cash prize in addition to a FedEx Office credit for business services and printing. The application procedure requires an explanation of the company, a strategy for using the grant money, images of the company, and an optional short video presenting the business. To be eligible, the business must be a for-profit endeavor with less than 99 employees and at least six months of operating experience.
5. Growth Grants from the National Association for the Self-Employed (NASE)
This financing initiative is provided by the nonprofit trade group, National group for the Self-Employed (NASE). The group provides $4,000 monthly growth subsidies to small businesses, which they may use for hiring employees, marketing, and other business requirements. In order to be eligible for this award, the firm must have been a legitimate member of NASE for a minimum of three months. Members who are annual may apply at any time.
6. Fast Pitch Competition – Women Founders Network
Each year, the Women Founders Network Fast Pitch Competition is open to early-stage, female-owned companies with substantial growth potential. The business must have a US headquarters, no more than $750k in outside funding, and a female CEO, co-founder, or founder. The top five finalists pitch their companies to angel and venture capital investors in an attempt to win over $100,000 in professional services and over $55,000 in cash incentives.
7. The Universal Grant Application Database of IFundWomen
IFundWomen is a grant marketplace that supports women-owned businesses by offering funding and mentorship. With only one application, entrepreneurs may apply for funding through its universal grant application, and their company will be matched with money from many enterprise partners. When a match is made, entrepreneurs will be informed and given the opportunity to apply. This is an excellent resource for businesses looking to raise capital from a range of sources because previous grant partners have included companies such as American Express, Visa, and Neutrogena.
8. Grant Halstead
The Halstead Grant is an annual award given to entrepreneurs hoping to get into the silver jewelry market. In addition to a $7,500 startup reward, the winner also receives $1,000 in jewelry items. Five semi-finalists and finalists will also get $250 or $500 in addition to help promoting their businesses. Both male- and female-owned small businesses are qualified for this assistance. To apply, the entrepreneur has to send in a design portfolio and answer fifteen questions on the company. August 1st is the deadline for submitting annual applications.
9. Fast Break for Small Companies
$10,000 awards are awarded twice a year through the Accion Opportunity Fund-managed Fast Break for Small Businesses grant program, which is funded by LegalZoom, the NBA, WNBA, and NBA G League. In addition to the monetary award, the winners receive $500 worth of services from LegalZoom. Entrepreneurs can register on the LegalZoom website to receive notifications when applications are available. The program’s objective is to give small businesses the funding they need to grow and succeed. Since the program is open to businesses of all sizes, it is a great opportunity for entrepreneurs looking for funding and resources to expand their enterprises. It’s important to keep in mind that grant availability might change, which is why it’s imperative to continuously search for and submit grant applications. It’s also important to keep in mind that many grants have deadlines, so you should prepare accordingly.
10. Fund for Red Backpacks
Sara Blakely, the designer of Spanx, is a Red Backpack Fund sponsor. The goal of her charity is to support and encourage women who choose to start their own businesses. Following COVID-19, the foundation established The Red Backpack Fund in collaboration with GlobalGiving and donated $5 million to support female entrepreneurs. GlobalGiving is providing at least 1,000 grants, valued at $5,000 each, to American women entrepreneurs who are also company owners in an effort to mitigate the consequences of the crisis.
11. Investors in Microentrepreneurs Program (PRIME)
Small businesses frequently aren’t qualified for SBA grants directly. However, the SBA provides government funding to organizations that promote microenterprise growth via the PRIME program, enabling them to assist disadvantaged small business owners with training, technical assistance, and mentorship. Applications for these grants are welcome from nonprofit, commercial, state, local, or tribal organizations; those that focus on supporting women-owned small businesses are especially encouraged. For example, the Wisconsin Women’s Business Initiative Corporation received a $200,000 award in 2022. This program is a fantastic opportunity for entrepreneurs and small business owners looking for resources and guidance to grow their companies and overcome obstacles.
12. Centers for Women in Business
The Small company Administration (SBA) provides funding to over 100 Women’s Business Centers around the country to assist female entrepreneurs with company growth and capital access. These groups offer a range of services, such as business advice, training programs, and networking opportunities. While some groups, such as the California Capital Financial Development Corp., provide business owners with direct loans, others help them find possible grants and loans for small businesses.
13. Administration for Economic Development
Every state and many localities have resources for economic development to support thriving local economies. These resources can help local companies access state and federal support, among other benefits. For example, the California Governor’s Office of Business and Economic Development helps small businesses apply for grants at the state and federal levels.
14. Small Business Development Centers
There are several Small Business Development Centers (SBDCs) around the country; they are often found at schools and institutions. SBDCs offer free one-on-one business coaching. Services include helping to draft business strategies, doing market research, and obtaining funding via crowdsourcing, loans, and grants. A few SBDCs offer training on certification programs including the SBA 8(a) Business Development Program and the Minority and Women Business Enterprise Certifications. By using these initiatives, businesses may create a fair playing field for themselves while competing in both the public and private sectors.
15. Office of Women’s Business Ownership (OWBO)
The Office of Women’s Business Ownership (OWBO), a branch of the Small Business Administration (SBA), provides support to female entrepreneurs through programs overseen by SBA district offices. Federal contracts, business advice and training, financing options, and credit availability are some of these activities. Under the direction of the OWBO, Women’s Business Centers (WBCs) aim to level the playing field for all female entrepreneurs who still face unique difficulties in the business sector. Businesses that receive the same amount of support from WBCs have a far higher chance of success than those that do not.
16. Business Development Program
The Business Development program is one SBA initiative that aids small, impoverished businesses in competing in the market. Women-owned small businesses can use the SBA’s Lender Match service to get finance, as well as help from WBCs and local resources. SBA financing programs, which involve partners that offer advice and support to help them choose the best route for their firm, can also be advantageous to entrepreneurs.
17. Women-Owned Small Businesses (WOSB) Federal Contract Program
Small businesses run by women may now compete for federal contracts thanks to this program. Business owners should be informed of the qualifying conditions before to applying. The SBA works with federal agencies to increase contracting opportunities in order to reach the government’s five percent objective for women-owned small businesses. As entrepreneurs should, keep an eye out for networking events targeted at both federal and private procurement.
18. National Women’s Business Council
The nonpartisan National Women’s Business Organization is a federal advisory body that provides unbiased advice and counsel to the President, Congress, and the U.S. Small Business Administration. The council tackles important and relevant economic issues that affect the growth and success of women-owned businesses. It is the only independent voice of the government for female entrepreneurs. The council does research, recommends laws, and serves as a repository for data and information regarding women-owned enterprises. It is a priceless resource for female entrepreneurs looking for guidance on navigating the business world and acquiring funding to grow their businesses.
19. Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE)
Supported by Syracuse University’s Institute for Veterans and Military Families, the Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE) program offers two reasonably priced training programs for women veterans or spouses of veterans. The program provides networking opportunities, skill-building seminars, mentorship, and other tools to assist women in starting and growing their companies.
20. Ms. Foundation for Women
The Ms. Foundation for Women awards many prizes to female-owned businesses that promote the advancement of women and girls. Prior recipients of grants have managed organizations that deal with issues related to women’s rights, access to cheap childcare, reproductive health, and stopping domestic violence. The foundation provides its grantees with training, networking opportunities, and mentorship in addition to cash support.
21. Tory Burch Foundation Fellows Program Grants
Each year, fifty women are chosen by the Tory Burch Foundation to be Foundation Fellows. These women receive chances for professional development and networking in addition to a $5,000 stipend that they may put toward their business studies. These women’s business concepts are presented to possible investors. To be eligible, you must identify as a woman and possess the majority (51 percent or more) of the equity in a qualifying company that is run and owned by women. The business must be profitable and have made at least $75,000 in revenue the previous year. For all the information, go to their website.
22. The Dream Big Awards
The Dream Big Awards, presented by the U.S. Chamber of Commerce, recognize and award the best small enterprises in the country. The Small Business of the Year winner receives a $25,000 cash incentive, a one-year Chamber of Commerce membership, a company-related promotional film, and a feature article in CO magazine. The Community Support and Leadership Award, the Minority-Owned Business Achievement Award, the LGBTQ-Owned Business Achievement Award, and the Woman-Owned Business Achievement Award are among the eight more awards that are given out. In order to qualify, businesses must have been in business for a minimum of one year, primarily inside the United States, and have employed fewer than 250 people or generated less than $20 million in gross sales in each of the two years before.
23. 37 Angels
The 37 Angels are a network of female angel investors who invest in female-run small businesses. The organization seeks to remove obstacles that female business owners have when submitting loan applications. 37 Angels offers up to $150,000 in subsidies to help women keep their companies profitable.
24. The Girlboss Foundation Grant
The Girlboss Foundation Grant program, which is offered every two years, provides financial assistance to female entrepreneurs in creative industries such as music, fashion, design, and the arts. To be eligible for the award, applicants must be the owners of women-led companies in these sectors. In addition to marketing perks like social media and newsletter highlights from Girlboss.com, the winning candidates will receive a $15,000 grant to support their business idea. Since its creation, the organization has awarded awards to female entrepreneurs totaling more than $130,000. Interested parties may find out more information about the application process on the Girlboss website.
25. Eileen Fisher Women-owned Business Grant
The Eileen Fisher foundation, which was founded 40 years ago as a women’s apparel company, provides $200,000 in grant money to eligible women-owned The Eileen Fisher Women-owned Business Grant provides funding to female entrepreneurs whose companies are enhancing society. The organization awards $200,000 in grants annually, with contributions ranging from $10,000 to $40,000. For a business to be eligible, it must be majority owned by women and align with the organization’s objectives of supporting women’s involvement in decision-making, a sustainable economy, and climate change adaption. Applications are accepted from any business that meets the standards; further details about the process may be found on the Eileen Fisher website.
26. State Trade Expansion Program (STEP)
With the State Trade Expansion Program (STEP), a program provided by the Small Business Administration (SBA), state and territory governments can provide financial assistance to small businesses engaged in export growth. Women-owned exporting businesses can apply for grants to assist with a range of responsibilities, such as creating plans for foreign marketing, traveling to trade exhibitions abroad, and learning about exporting.
27. Challenge.gov Competitions
On the website Challenge.gov, businesses and organizations may find over thirty competitions in which they can take part and win cash rewards. These issues span a broad spectrum of businesses, such as the medical field, the arts, minimizing the consequences of climate change, and developing novel sustainable energy sources.
28. State Business Incentives Database
This is an excellent resource for small businesses starting out in the US. The State Business Incentives Database has already done the effort for you by building a list of over 2,300 different types of business incentives, including grants, loans, tax exemptions, and tax credits. Finding financing possibilities across all 50 states could take a lot of time.
29. American Association of University Women (AAUW)
The American Association of University Women (AAUW), a nonprofit organization, provides funding for women’s graduate studies. The AAUW offers Community Action Grants for one- or two-year community-based initiatives. Even though the main goal of this funding is education, businesses that have initiatives or programs that “promote education and equity through projects focused on encouraging girls to choose, before entering college, the physical sciences or engineering as a vocation” are allowed to apply. The AAUW awards more than $6 million in funding annually.
