Discover How Small Business Grants Can Help Your Ecommerce Business Take Off
Starting a new business involves numerous costs and challenges, making financial assistance an attractive option for many entrepreneurs. In a recent Shopify blog article on starting a business, the author explores the world of small business grants and how they can help fund startups like yours. We’ve summarized the most relevant ideas and opportunities for ecommerce business owners and managers here.
Bottom Line: If you’re looking for ways to secure funds for your ecommerce business, this article is a must-read as it helps you navigate the often-complex world of small business grants and provides resources to jumpstart your financial journey.
Federal, State, and Local Grants
While the US Small Business Administration (SBA) is a popular source for federal grants, you can also find more opportunities on Grants.gov, which connects businesses with funding from various federal agencies. Also, don’t forget to explore state and local grants through your state’s economic development agency or local chamber of commerce—and consider other US government grants as well.
Non-Government Grants for Small Businesses
Many private corporations and non-profit organizations offer grant programs for small businesses. Some options include the Comcast RISE Investment Fund, Patagonia’s funding for environmentally-focused enterprises, the National Association for the Self-Employed’s growth grants, the 500 Global Flagship Accelerator program, the Halstead Grant for jewelry businesses, the StartOut Founders Program for LGBT-owned businesses, and the StreetShares Foundation’s program for veteran-owned businesses.
Examples of corporate grant programs include the FedEx Small Business Grant Contest, National Association for the Self-Employed’s Growth Grants, and the Venmo Small Business Grant.
Grants for Women-Owned and BIPOC-Owned Businesses
Grant programs aimed specifically at women- and BIPOC-owned businesses include Women Who Tech Grants Program, Cartier Women’s Initiative Regional Awards program, IFundWomen, Foundation for a Just Society, WomensNet, Hello Alice Small Business Growth Fund (which also encompasses other minority groups), Grow by Invoice2go, Black Founder Startup Grant by SoGal Foundation, BIPOC Small Business Grant by AnnuityFreedom.net, Backstage Capital, and Main Street America’s Backing Small Businesses program.
How to Get a Small Business Grant
When applying for a small business grant, focus on your industry, read eligibility requirements carefully, ensure your business aligns with the grant-issuer’s mission, determine how you’ll use the granted funds, and pitch your potential for innovation and expansion.
While grants may have stipulations on how funds are used, they can help establish connections and pave the way for growth in your ecommerce business, especially if it has potential for innovation and serves the good of the community or industry.