Women entrepreneurs face unique challenges when it comes to starting and growing their businesses. One of the greatest challenges is getting access to funding from outside investors such as venture capitalists and banks.
Women-owned businesses generate nearly $2 billion each year. Forty percent of all businesses in the United States are owned and operated by women. Yet, women secure only 2% of venture capital funding.
Against all odds, women are finding ways to start and grow successful businesses in spite of inadequate outside funding opportunities. Even if it means bootstrapping businesses with money from savings accounts, friends and family members.
Corporations and organizations have taken notice of the success rates of women-owned businesses. As a result, they have developed grant and funding programs that support women in business.
Are you a woman entrepreneur who is looking for funding opportunities to get your business off the ground? Check out these 7 funding opportunities for women entrepreneurs in 2022.
1. The Amber Grant
Eligibility Requirements: At least 50% of the business must be woman-owned. Applicants must be at least 18 years old. Businesses must be based in the United States or Canada. Non-profits are eligible to apply.
For more information, visit https://ambergrantsforwomen.com/get-an-amber-grant/
2. SoGal Foundation Grants
Eligibility Requirements: Applicants must self-identify as a Black woman or a Black nonbinary entrepreneur. Must own a legally registered business. Must have a high-impact, scalable idea or solution with the goal of being the next billion dollar business. Applicants must plan to seek investor financing in order to scale their business (now or in the future).
- $5k grants
- $10k grants
- Awards are given on a rolling basis.
For more information, visit https://www.iamsogal.com/black-founder-startup-grant/
3. Visa Everywhere Initiative 2022
Eligibility Requirements: This global competition is designed to provide financial prizes and business opportunities for fintech providers. Applicants must have an idea that delivers innovative commerce and payment solutions to businesses and customers. Financial solutions include (but not limited to) payables, data/analytics, brand management, expense management, employee benefits, blockchain/cryptocurrency, alternative lending, retail technology and risk management.
For more information, visit https://usa.visa.com/visa-everywhere/everywhere-initiative/initiative.html
4. Amazon’s Black Business Accelerator
Eligibility Requirements: This free program is available to Black-owned U.S. businesses that sell goods on Amazon. Applicants must have an Amazon Professional Sellers account. Must be registered as a minority-owned business through the National Minority Supplier Development Counsel, United States System for Award Management, United States Small Business Administration and Supplier GATEWAY.
For more information, visit https://sell.amazon.com/programs/black-business-accelerator
5. Essence + Pine Sol Build Your Legacy
Eligibility Requirements: Applicants must be a Black woman with a registered business (LLC, Inc., etc.)
- $100k grant
- April 15, 2022
For more information, visit https://www.essence.com/pine-sol-build-your-legacy-2022/
6. Corporate Counsel Women of Color (CCWC) Women in Business Grant
Eligibility Requirements: Applicants must operate a business in the United States. The business must have been established before January 1, 2020 with an EIN number. Must be a legal for-profit business. Business must have generated at least $25,000 in revenue since January 1, 2020. Applicant must be at least 18 years old.
- $5k per recipient (5 awards are available.)
- Applications will be reviewed May 2022.
For more information or to apply, visit https://form.jotform.com/Laurie_info/5000-grant
7. Additional Business Grant Sources
There are thousands of organizations that award grants to women business owners. Here is a list of websites where you can search for business grant information.
- Comcast Rise
- Small Business Innovation Research Program (SBIR)
- Small Business Technology Transfer Program (STTR)
- U.S. Department of Commerce Minority Business Development Agency
- U.S. Small Business Administration State Trade Expansion Program
- Barclays Small Business – Big Wins
- Walmart Local Community Grants
Register for the Women of Color Entrepreneurs Virtual Conference
Are you a woman entrepreneur who is looking for tips and strategies to grow your business? Attend the Women of Color Entrepreneurs Virtual Conference on Thursday, June 30, 2022 (9 am – 3 pm).
Topics will include:
- Copyright and Trademark Considerations
- Successful Small Business Case Studies
- Internet and Social Media Marketing
- Brand Management
- Accounting and Bookkeeping Strategies
- Employment Law for Business Owners
Save the date and register here to save your space. We can’t wait to meet you at our conference.
About Corporate Counsel Women of Color
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