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- Starting a business could be hard, especially when you have no money. That doesn’t mean give up, try this instead…
Starting a business could be hard, especially when you have no money. That doesn’t mean give up, try this instead…
Hey guys, I’m sorry I went missing in action, laugh out loud😂💀. But while I was gone, my son was born and my twins were being conceived. I’ve also started a new business, which I’m currently building as we speak. While I was going through and creating my bylaws, I came to halt. What if, when this is all set and done, my board votes me off my board. So I sat their and I thought to myself, “wait, I’m thinking about board members and investors, this is what I use to pray for” and that got me thinking back when I was scared to even start, to even take my first step. I use to always make the excuse, “I don’t have Money” or “I will do it when I get more money “ truth be told, while money is a big factor, sometimes the best thing to do is just start. The reason I’m bringing this up is because I know some of you may want to become entrepreneurs, but you don’t have the funds right now to jump start your business. Also, if it’s a black owned business, and you are African American like I am, you are probably thinking it’s going to be way harder for you than others. That’s okay! Because as long as you don’t give up, you can make it. Let me tell you step by step how to get some money for your business as an African American:
As a Black entrepreneur, there are several avenues you can explore to find grants and apply for them. Here’s a step-by-step guide:
### 1. Research Grant Opportunities
- Federal Grants:
- Grants.gov: The main database for U.S. federal grants. Search for grants specific to small businesses and minority entrepreneurs.
- Small Business Administration (SBA): Offers various grants and funding opportunities. While not all are specific to minorities, it’s a good resource.
- State and Local Government Grants:
- Check your state's economic development website or local government offices for grants aimed at small businesses or minority-owned businesses.
- Private and Corporate Grants:
- FedEx Small Business Grant Contest: Offers grants to small businesses, including minority-owned businesses.
- Comcast RISE: Provides grants, marketing, and tech resources to Black-owned small businesses.
- National Association for the Self-Employed (NASE) Growth Grants: Offers micro-grants to small businesses.
- Hello Alice: A platform offering various grants and funding opportunities specifically for minority-owned businesses.
- Non-Profit and Foundation Grants:
- The National Minority Supplier Development Council (NMSDC): Provides financial and business support to minority-owned businesses.
- The Amber Grant: Awards small grants to women entrepreneurs, including Black women.
- The Black Founder Startup Grant by SoGal Ventures: Offers grants to Black women or nonbinary entrepreneurs.
### 2. Prepare Your Application
- Business Plan: Ensure you have a well-structured business plan. Most grant applications require this to assess the viability of your business.
- Grant Proposal: Write a compelling grant proposal. This should include your business objectives, how the grant money will be used, and the potential impact of your business.
- Budget: Create a detailed budget showing how the grant funds will be allocated.
- Proof of Minority Ownership: Some grants require proof that your business is minority-owned. Be ready to provide necessary documentation.
### 3. Where to Apply
- Online Platforms: Many grants can be applied for directly through their respective websites. Websites like Grants.gov and Hello Alice allow you to apply online.
- Local Business Development Centers: Visit Small Business Development Centers (SBDCs) or Minority Business Development Agency (MBDA) centers for assistance with the application process.
- Networking and Conferences: Attend business conferences and networking events where you can meet grant providers and learn about upcoming opportunities.
### 4. Follow Up and Monitor
- Track Application Deadlines: Keep a calendar of grant deadlines and submission dates.
- Follow Up: After submitting your application, follow up if you haven't heard back within the expected time frame.
By leveraging these resources and steps, you can increase your chances of securing funding for your business startup.