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Small Business Grants That Are Available to Help Your Business Grow

Small business grants can provide the cash that you need without you paying it back as they do not require repayment of any kind. There are several government agencies, nonprofits, and private businesses or corporations that provide essentially free money in the form of grants to small business owners. The key is to find grants that you qualify for as there are grants available for all varieties of small and online business owners: veterans, disabled Americans, minorities, women, and other under-represented groups. Here’s a list of grants for business owners interested in small business grant opportunities.

The StreetShares Foundation Veteran Small Business Award: The StreetShares Foundation is a 501(c)(3) nonprofit organization that exists to inspire, educate, and support the military entrepreneurial community. This award is designed to boost small business owners who innovate and create a social impact in the changing marketplace. The applicant must be a veteran, reserve, or transitioning active duty member of any of the United States Armed Forces, a spouse of a military member, or the child or immediate family member of a Military Member who died on active duty. The first-place award is $15,000, the second-place award is $6,000, and the third-place award is $4,000. Visit www.streetsharesfoundation.org to learn more.

FedEx Small Business Grant Contest: The FedEx Small Business Grant Contest is a grant program by FedEx to award U.S. based small businesses with grants to help them grow and scale their business. The contest entry period typically takes place early in the year. The competition awards $250,000 to 12 small businesses, including a $50,000 grant and $7,500 in FedEx print and business services to its grand prize winner. Visit www.fedex.com to learn more.

The Girlboss Foundation Grant: Since 2014, the Girlboss Foundation has given away over $130,000 worth of grants to women entrepreneurs making innovative moves in the industries of fashion, design, music, and the arts. Each grant winner receives $15,000 in project funding, plus features on Girlboss.com, their newsletter, and social media platforms. Applicants are judged on innovation and creativity, business planning and acumen, along with a demonstration of financial need. Visit www.girlboss.com to learn more.

National Association for the Self-Employed: One of the ways that the NASE gives back to the community is through NASE Growth Grants. Since 2006, the NASE has awarded nearly $1,000,000 to members just like you. A new winner is chosen each month to be awarded up to a $4,000 grant to support the growth of their business. The grant can be used for a variety of business needs, including marketing, advertising, and hiring employees. Visit www.nase.org to learn more.

 

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Grants.gov: Managed by the Department of Health and Human Services, Grants.gov is an E-Government initiative operating under the governance of the Office of Management and Budget. The Grants.gov system houses information on over $1,000 grant programs and vets grant applications for federal grant-making agencies. To apply, you must obtain a DUNS number for your business (a unique nine-digit identification number), create an account at Grants.gov, and register to do business with the U.S. government through its System Award Management website. Visit Grants.gov to learn more.

Save Small Business: The Save Small Business Fund is a way for larger businesses and philanthropies to help the small business community suffering from the impacts of the COVID-19 pandemic. Funded by corporate and philanthropic partners, the Save Small Business Fund is a collective effort to provide $5,000 grants to as many small employers as they can. Eligible businesses must employ between three and twenty people, be located in an economically vulnerable community, and have been harmed financially by the COVID-19 pandemic. Visit www.savesmallbusiness.com to learn more.

Facebook Small Business Grants Program: Facebook is offering $100Million in cash grants and ad credits. To be eligible to apply, your business must have between two and fifty employees, have been in business for over a year, have experienced challenges from COVID-19, and be in or near a location where Facebook operates. Visit www.facebook.com to learn more.

The National Minority Supplier Development Council’s Business Consortium Fund: The NMSDC provides a grant program known as the Business Consortium Fund, which is intended to support certified minority-owned businesses. Minority business owners must own and control 51% of the business. Minority business owners include entrepreneurs who are African-American, Hispanic American, Native American, Asian-Pacific American, or Asian-Indian American. Visit www.nmsdc.org to learn more.

There are countless grants available, and this list only represents a few. The challenge is finding the right one for you. Once you have identified a grant that you are eligible for, the next step is to accurately complete the application process according to the guidelines given. If you qualify, you could gain access to funding without the obligation of repayment and potentially grow your business without the burden of debt.

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Key Steps For Expanding Your Business Into New Markets

As globalization becomes more common in our world, many businesses are choosing to take advantage of the growth opportunities that lie in expanding into new markets. But expansion can be a significant undertaking for small and middle-market businesses, with many moving parts. As a business owner, you need to fully assess and understand the risks and rewards that expansion can present for your company. The following steps outline areas on which you should focus, and which elements of your business you should have ready in order for an effective expansion into new markets.

Impact Assessment

Before expanding your company into new markets, you must have a comprehensive understanding of what the overall impact on your business will be. Conduct market segmentation and product gap analyses to assess whether your product or service will sell in the target market and do a SWOT analysis to see how it stacks up against local competitors. You need to know if there is a need for your company and if anyone will buy what you are selling. You will also need to consider how large the market is and how long it may take to reach your target sales numbers.

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