As of 2017, there were over 11.6 million businesses owned by women, resulting in over 1.7 trillion dollars in sales. This is a large increase from the 6.5 million in 2002 and 6.5 million in 2007. Due to the large increase in women business owners, the government and other foundations are beginning to offer more business grants specifically for women.
Women’s Business Grants offered through the government have very strict ruling and eligibility requirements. These grants are only available to those that have their business that is helping to better the community, which may be by offering non-profit services. This is important to pay attention to when researching business grants for women, because it may be beneficial to look for grants through other outlets if your business is not a non-profit.
When a woman is creating or has already created a business, it is important to note the goals that they wish to achieve. Researching and eventually applying for grants is a good reason to create a business plan for where the company is at currently, and where they are going in the future, if one does not already exist. Businesses that are based out of a woman’s home or exclusively online may help women find more specified grants. This is because the funding amounts may be greater, or the grant-giver may have a desire to help women get the proper equipment for their home or to purchase the proper website domain.
There are some organizations and foundations, both public and private that are based on helping women business owners that offer their own grants. The National Association of Women Business Owners (NAWBO) and Women’s Net are both organizations that help to support women business owners across the nation. These groups can help women business owners to learn how to better manage and grow their businesses.