Grants For Black Female Business Owners – Welcome to The Breakthrough Blueprint, a series that delves into the unique business challenges and opportunities of undersigned business owners and employees. Learn how businesses have grown or expanded, explored entrepreneurship in companies, or driven business from there, and how stories can inspire and inform your business. Black women are the most dynamic entrepreneurs in the country and research proves it. According to J.P. Morgan writes, not only are they the most educated, but they also own 2.7 million businesses in the US and are the fastest growing entrepreneurial demographic. From beauty and fashion to technology and education, their companies have made a mark in every industry. Despite their success, black women founders and CEOs face many challenges, with lack of financial support at the top of the list. A LinkedIn article reports that 40% of black female entrepreneurs believe that access to capital is critical to growing a business. However, only 19% received money, and most of them had their own financial affairs. Black women need more resources to support them on their entrepreneurial journey. Read on to find out about grants that can help you take your business to the next level. Entrepreneurship Grants for Black Women 1. Intrepid Fighters Grant Contest In partnership with MasterCard, the Intrepid Foundation is looking for intrepid Black Lake women who are role models in their communities. Eleven small businesses across the country will receive $10,000 in grants, digital tools and a memory stick to grow their business. 2. The number of Black female HerRise MicroGrant founders is increasing, so the amount of funding recipients is also increasing. Each month, the digital community platform awards $500 to a small business owned by a woman of color. HerRise works with organizations, foundations and funds to provide financial assistance to women. Recipients used the grants to buy computers, purchase materials, equipment and more. 3. Amber Grants for Women Founded by WomenNet, Amber Grants has been helping women pursue their passions since 1998. It provides at least 30,000 aspiring business owners with each and every month of the annual grant. The grants are: One $10,000 Amber Quarterly Grant Two monthly $1,000 Amber Grants Two annual $25,000 Amber Grants One $0,000 non-profit grant per quarter. The application process is simple. All the applicants have to do is share their experience and the reality of their dreams. Recipients have ranged from scientific inventors to bakers. 4. SoGal’s Black Founder Startup Grant Grants SoGal Foundation is one of the largest global platforms for various entrepreneurs and investors. The foundation recognizes the systemic impact discrimination and inequality has had on black founders, so it has partnered with sponsors to donate $0,000 and $5,000 to black women or non-binary causes. In addition, judges will receive resources on fundraising and how to grow their business. 5. Power Forward Small Business Donate It is the power to move forward. Vistaprint, the Boston Celtics Shamrock Foundation and the NAACP acknowledge these efforts. 1 million to Black-owned small businesses in New England. Power Forward Small Business grants regularly award up to $25,000. Grantees will receive customized design and marketing support and national recognition. 6. National Association for Self-Employed Growth Grant Since 2006, NASE has committed $1,000,000 in small business grants to its members. Recipients can receive up to $4,000 for selling, remodeling and other business needs. Applicants must submit a business plan detailing the company’s purpose and operations. The selection committee examines applications for each category. 7. Comcast RISE Comcast promotes digital equity and underwriting capital for small businesses. Comcast RISE gives female and minority founders access to digital tools and funding. Its mission is to support small businesses that make a difference in communities. 8. San Francisco Women’s Entrepreneurship Fund This fund is for female founders who live in the “City of Gold”. The Women’s Entrepreneurship Foundation of San Francisco offers mini-grants of up to $5,000. The money will help women improve their business and strengthen their networks. 9. AT&T Black Future Maker AT&T wants to celebrate the stories of black future makers in a unique way. Telecommunications companies are looking for visionaries who want to help others. Applicants must submit a video or photo to their Instagram feed explaining their goals. They will have a chance to win $10,000 in cash, an AT&T 5G-capable device, a Dream in Black Future Maker feature, and an exclusive merchandise collection. The program selects winners every month until the end of the year. 10. The Black Business Support Fund Kinetic Business believes that small businesses are the pulse of the community. The company provides financial assistance to black-owned businesses in many cities. Business owners in Georgia, Charlotte, North Carolina or Lexington, Kentucky are eligible to apply. They have the opportunity to receive free internet for a year, a grant of up to $2,500 and a free business plan to promote their company. Awardees receive funds on a first-come, first-served basis. 11. FedEx Opportunity Knocks Small Business Grant In addition to giving time to sailors, FedEx Hosts the Business Knocks Grant Contest and provides small businesses with the capital they need to sustain their businesses. To apply, you need to tell the company’s story effectively and win the most public votes. This foundation is accessible to all, enabling black women to succeed in all their endeavors. Winners are selected annually, so check the competition page for details for 2023. For You Premise Grants build the foundations for the growth and development of Black Women Founders. We need to invest in and support their passion because when black women win, we all win.
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Grants For Black Female Business Owners
People Are Offering Black Business Owners
Several reports suggest that 2020 has been a brutal year for small business owners, including black women entrepreneurs, mainly because of the Covid-19 outbreak.
But well before the financial hurdles created by the pandemic, female founders received only 2.8% of venture capitalist funding. And more alarmingly, a report by ProjectDian found that only 0.2% of all venture capital funding went to startups founded by black women.
Stacy’s Rising Project, created to address the funding gap for women business owners, has just awarded $150,000 in grants to 15 black women business owners. Each winner will raise $1,000, along with professional development services and executive coaching/mentoring, to help them navigate the challenges many black female founders face in this current environment. This is important because the grantees are selected from thousands of listeners based on factors such as their commitment to social impact, sustainability and how they have handled recent challenges in their business.
The Stacy’s Rise Project 2020 grants and mentorship program from Stacy’s Pita Chips focused on the development of female founders. Stacy’s is one of the brands that make up Frito-Lay North America, PepsiCo Inc. they are present The grant recipients were selected in September by a panel of executives from Frito-Lay and PepsiCo, as well as longtime partner Hello Alice. The annual program was launched this June.
Black Women Make Waves In Hair Care
Ciara Dilley, Frito-Lay’s vice president of marketing, told the Black Initiative via email that 15 black women represent 1,000 more amazing black entrepreneurs worthy of investment and attention. “The goal with the Stacy Risu Project is to provide our winners with resources that will set them up for long-term success, which in addition to donating money, include mentoring relationships that last long after formal programs, as well as technology webinars and even professional customer service.”
Dilly says that when Project Stacy’s Rise was launched earlier this year, Kameka Smith, founder of The TEACHER Network, joined. They were talking about the importance of women mentors.
Dilley stated that “our survey earlier this year found that women entrepreneurs who have had a mentor (73%) are more likely to feel equipped with the resources they need to grow their business compared to those who have not.”
Making those connections and building relationships is more important than ever. As a result, he explained, the 15 winners also receive training and promotion through The Master Network, which Dilley reports has more than 3,000 members nationwide.
Lacking Financial Support, Black Owned Businesses Are Suffering
Sharing the importance of programs like Stacy’s Rise Project, Smith of The Boss Network told Black Enterprise via email that black women are the most underserved population.
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