Black women are said to be more likely to start a business than White men, according to Harvard Business Review. In the United States alone, about 17% of Black women are running new businesses or in the process of starting one. In spite of the progress that has been made starting and running their businesses, only about 3% of Black women run mature businesses.
To understand what is responsible for the drop in the rate of established businesses, the Global Entrepreneurship Monitor conducted research in conjunction with Harvard Business Review, which monitors the annual comprehensive survey of the annual rate of entrepreneurship in over 120 economies since 1999.
Some of the major factors that mitigate against the growth and advancement of Black women’s businesses range from the type of business being opened. The Global Entrepreneurship Monitor report shows that about 61% of Black women entrepreneurs start a business in retail, wholesale, education, government, social services, and the healthcare sector. The other, which is actually significantly more impactful is access to funding.
In this article, we would be exploring business grants for Black women that you can access in 2022. Indeed Black women have come up with great innovative business ideas that have revolutionized many sectors. However, getting access to funding has been an issue since time immemorial. According to Yahoo News, only about 0.43% of 166 billion in venture capital funding as of 2020.
Grants for Black Women Business
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Meta Company, formerly known as Facebook is committed to investing in minority founders by providing them with access to grants and other business resources to help them thrive. The We The Culture Grant program is also committed to helping Black creators utilize Facebook and Instagram platforms to help them bring their business and entrepreneurial ideas to life.
We The Culture Grant program is in its second year. In celebration of the grant program, Meta also extended its programs to create a community of fellow Black creators to help them network, unlock opportunities to earn more money using Facebook and Instagram and access additional financial and business support from Meta partners.
Amber Grant was founded by WomensNet. The Amber Grant is a funding program that was established for the purpose of supporting women who are starting their businesses and need funding. The program provides grants of $500 monthly to enable women to start the business of their dreams. The Amber Grant program has been running since 1998. The longevity of the program has contributed significantly to the popularity that it enjoys in the community of women entrepreneurs globally.
The Amber Grant program also provides networking opportunities for women who have great business ideas but are not sure how to start their business journey. The process of accessing the Amber Grant program is simple and quite easily accessible for both advanced business owners and new business owners just starting out on their entrepreneurial journey.
SheaMoisture company, a producer of hair and skincare products launched this grant program to assist Black women in starting and growing their businesses. Though the website is currently under construction, the grant program is very efficient in helping Black women and other minority business owners to help support the business ideas and entrepreneurship of Black business owners.
The New Voices Fund also provides mentorship programs and support for new business owners who are venturing into entrepreneurship. The concept of supporting Black business owners with access to funding goes beyond just the amount of funds in cash provided. The New Voices Fund also provides other forms of opportunities for content creators and business owners to leverage the power of the access to grants to help grow their businesses.
Zion Bank provides financial support for Black women through the Zions Bank Smart Women Grants program. This is a great program to look into if you are a Black woman exploring grant options when it comes to starting your own business. The process for applying for the Zions Bank Smart Women Grants program is accessible to Black women planning on starting a business or growing an existing one.
The Zions Bank Smart Women Grants program also organizes regular business meetings and training that help Black women network and connect with other like-minded entrepreneurs to help them create the access to opportunities that they need. The process also helps to create a platform for Black business owners to connect their ideas to opportunities to bring them adequate funding for their businesses.
The National Association for the Self-Employed Growth Grants program provides grants for Black business owners to the tune of starting their own business. The National Association for the Self-Employed Growth Grants goes even beyond providing grants to helping business owners with funds to get supplies for their businesses.
The grant program can be easily accessed online. The grant program also provides helpful training for those who are starting their businesses and are interested in learning how to run their businesses efficiently. The National Association for the Self-Employed Growth Grants has helped several Black women who have been able to leverage the grants to establish their businesses.
Black women’s business grants may appear to be quite hard to come by, but Black Women’s Blueprint Fund is helping to solve that problem. Black business grants are accessible if you know where and how to go about finding the grants that you need. Black Women’s Blueprint Fund is an organization that is committed to making a difference in the lives of Black women entrepreneurs.
The process of applying for the grant is made easily accessible by creating programs that help you with the different information that you need to start your business. The grant program has helped women from different walks of life who have been able to use the same opportunities to start their own businesses and help others to do the same.
The SF Women’s Entrepreneurship Fund requires that you have been in business for at least three years to qualify. The program has been quite instrumental in helping provide Black women access to funding to help them get their business started. The SF Women’s Entrepreneurship Fund is accessible all year round. If you are starting your own business, this is a great way to get started.
The SF Women’s Entrepreneurship Fund also organizes regular meetings for Black women to help them connect with others who are fellow entrepreneurs growing their businesses. The program is open to both members of the SF Women’s Entrepreneurship Fund program, and those that are just starting out. The program runs all year, so it makes access to the program a highly productive one.
Finding grants for Black women can be quite challenging, but knowing how to navigate through the challenges can help you make headway. There are growing resources out there that can help you when it comes to finding the ideal grant to get you started on your business. If you are looking for additional information on how to find Black women grants is to simply click on this list of 45 ultimate grants to help you start your own business in 2022.