Small Business Grants and Resources for Women-Owned Businesses
March marks Women’s History Month and for women-owned businesses, there are several resources designed to encourage entrepreneurship. Between loans, mentorship, education, and grants, there are a variety of programs designed to help women start, scale, and acquire businesses. Grants are particularly helpful and provide a critical source of funding for women looking to start or grow their business.
Women-Owned Businesses in the United States
The most recent U.S. Census Bureau Annual Business Survey reports that 22% of employer businesses are women-owned. These 1.3 million enterprises had an estimated $2.1 trillion in receipts, employed over 10.5 million employees, and had $499.4 billion in annual payroll. Combining employer business with non-employer businesses, women-led companies represent 40% of all businesses. While the current trends in female-led businesses are impressive, these business owners continue to face unique challenges, including a lack of funding. Female entrepreneurs ask for and receive lower amounts in funding than men, and received only 7% of venture capital funds . From government agencies to private foundations, grants for women-owned businesses are an excellent way to get funding for starting or growing a business.
10 Resources and Grants for Female-Led and Owned Businesses
There are many resources and grants available for female founders. From mentoring and educational opportunities to funding start-ups and business growth, here’s our list of 10 resources and grants available for women-led businesses.
1. Association of Women’s Business Centers
The Association of Women’s Business Centers, a nonprofit organization that partners with the U.S. Small Business Association (SBA), helps women-owned businesses with over 100 Women’s Business Centers around the country. These centers provide training, mentoring, networking, and education opportunities.
2. SBA Office of Women’s Business Ownership
The mission of the SBA’s Office of Women’s Business Ownership is to enable and empower women entrepreneurs through advocacy, outreach, education, and support. Established in 1979, they provide business training, counseling, access to credit and capital, and more.
3. SCORE for Women Entrepreneurs
SCORE helps business owners at all stages of their business, from starting the business to exiting and transitioning out of the business. From free guides and mentorship programs to events and online courses, SCORE also connects entrepreneurs with local resources.
4. Amber Grants for Women
The Amber Grand was founded in 1998 by WomensNet. Honoring the memory of Amber Wigdahl, a $10,000 grant is given every month to a woman entrepreneur and an additional $25,000 grant is awarded to one of the monthly Amber Grant recipients. Additionally, they provide $10,000 monthly grants in 12 distinct business categories, and they too are eligible for a $25,000 year end grant.
5. IFundWomen
IFundWomen welcomes women entrepreneurs to apply to a variety of grants. From their monthly Pay-It-Forward crowdfunding grant to programs from partners like adidas, American Express, Unilever and more, this organization’s mission is to make it happen for women who have big ideas.
6. Cartier Women’s Initiative Award
Founded in 2006, this annual international program aims to drive change by empowering women entrepreneurs. The program is open to women-run and owned business that aim to have a strong and sustainable social and/or environmental impact.
7. Tory Burch Foundation
To tackle the funding challenges women entrepreneurs continually face, the Tory Burch Foundation empowers business owners by providing access to capital, education, and digital resources. In their mission to help women secure capital, they have two grants: the Grants for Women of Color and Nest Artisan Revolving Fund.
8. Galaxy Grant
Galaxy Grants help women and minority entrepreneurs by providing essential resources, tools, funding and knowledge. The deadline to enter for a $2,750 grant is March 31, 2024.
9. EmpowerHER
The mission at the Boundless Futures Foundation is to empower, embrace, and elevate women entrepreneurs. Their grants are awarded to entrepreneurs who put social impact front and center of their produce, services, and practices.
10. Women Founders Network
The Fast Pitch Competition awarded $55,000 in cash grants and $100,000 in professional services in 2023. Winners receive mentoring, coaching, and sponsorships to help them on their entrepreneurial journey. For 2024, applications can be submitted between April 1—May 31 for women-owned founders and business owners.
Fostering Entrepreneurship for Women-owned Businesses
Grants are a vital source of capital for women-owned businesses and provide money and resources to ensure equity in business. By supporting business owners with the tools they need to buy, build, scale successful enterprises, resources and grants have the potential to create a more equitable and inclusive economy.