Startup business grants for women entrepreneurs
The number of businesses owned and operated by women has increased considerably over the last few decades and the trend shows no sign of slowing. In the period between 2014 and 2019 alone, women-owned businesses increased in number by 21%, reaching a total of roughly 13 million businesses with revenue totaling nearly $2 trillion. Unfortunately, data also shows that female business owners are less likely than their male counterparts to be approved for conventional business loans. This is why many women that would like to start their own business turn to startup business grants for women entrepreneurs.
There are quite a few places to find startup business grants for women entrepreneurs. While the competition for grants is fierce, they can be a great way to fund a new business without adding business debt. Here are three great places to find startup business grants for women entrepreneurs.
Female entrepreneurs who are planning to launch small, local businesses can apply for an Amber Grant to help with financing the business. Founded in 1998 to provide startup business grants for women entrepreneurs, the Amber Grant Foundation awards $10,000 in grants to two female-owned businesses each month. At the end of each year, two of the monthly grant winners are awarded an additional $25,000 to fund their businesses. A variety of additional grants are also offered by the foundation throughout the year.
Grant recipients are chosen based on their strong entrepreneurial ideas and their passion for their ideas. To apply, simply pay a $15 application fee, explain your business, and explain what the grant money would do to help the business. Eligibility is restricted to businesses operating in the United States and Canada and there is no time in business requirement, making it a good option for startups.
Cartier Women’s Initiative Awards
Cartier Women’s Initiative has been awarding grants ranging from $30,000 to $100,000 to female entrepreneurs since 2006. Each year, Cartier awards three startup business grants for women entrepreneurs in each of the different regions around the world where it has pledged to support early-stage businesses. Over the years, winners have been rewarded for ideas on a range of social, economic, and environmental development issues.
Grant applications are open to women-run and women-owned for-profit businesses that focus on sustainability and/or the environment from any country and sector in the regions specified. For each region, the first-place business receives a $100,000 grant, second place is awarded $60,000 and third place receives $30,000. To date, the Cartier Women’s Initiative has distributed about $6,440,000 in grants to recipients in 62 countries.
IFundWomen Universal Grant Program
IFundWomen is a grant marketplace that offers a variety of startup business grants for women entrepreneurs in collaboration with various partners. The organization has created the IFundWomen Universal Grant Application (UGA) database, which allows business owners to add their information to the database and receive notifications of any grants added to the database for which they may qualify. Business owners can also peruse the site to find applications for all kinds of grant opportunities from tons of organizations.
Toi Williams began her writing career in 2003 as a copywriter and editor and has authored hundreds of articles on numerous topics for a wide variety of companies. During her professional experience in the fields of Finance, Real Estate, and Law, she has obtained a broad understanding of these industries and brings this knowledge to her work as a writer.