Grants for Black business owners are high in demand in recent times than they have ever been. As a matter of fact, minority-owned businesses are progressively looking for ways to get business funding for their business ventures. Here at AfricanAmericanGrants.org, we have compiled the very best grants for small businesses today and other useful funding options that minority business owners can take advantage of today.
Indeed, grants for small business owners in 2021 are available if you know where to look for them. Small business grants have been through one of the biggest business impacts since the onset of the global pandemic. Finding ways of supporting them in 2021 would be a great way in helping them pull through. The idea of buying and supporting Black goes beyond the reflections of the word itself, but the actions you take in making those words come true.
If you are a Black business owner, who has been asking questions about where you can find grants, how you can apply for minority grants, and much more. You should be able to find answers to those questions by simply reading all the way.
Recent research has shown that Black-owned businesses shut down at more than twice the rate of white-owned firms and experienced declines in cash balances nine times as steep as non-minority firms in some cases. Now if that does not paint the picture of some of the things that Black-owned businesses have to deal with, not sure what would in 2021.
Minority business grants are consistently on the rise when it comes to the search metrics that it receives on a daily basis. AfricanAmericanGrants.org has compiled a list of grants that can help grow your small business in great measures. If you would like to learn more about how you can access these grants, do not hesitate to check out the list below.
As a Black-owned business, finding grant options for your business may come with its set of challenges, but knowing how to navigate the challenges can help you find grants that you can apply for. Grants for Black business owners can seek grants in many ways, but the most sought-after is finding grants online.
The search for grants for Black business owners is growing by the day, and as such, we try to update the grant information that minority and Black-owned businesses can access to help them grow their businesses.
- 1 Minority Small Business Grants
- 2 How to Support Black-Owned Businesses
- 3 How to Find Black-Owned Businesses in your Area
- 4 Why Support Black-Owned Business?
- 5 Black-Owned Business Making a Difference
- 6 Conclusion
Minority Small Business Grants
What qualifies as a minority business you may ask? A minority business is a business venture owned by a minority. There are grants that are specific to this given demographic. If you are a minority business owner looking for funding for your business, you are in the right place.
Minority business grants exist if you know where to look to find them. One way to start your journey of finding grants is to ensure that you meet the grant eligibility criteria that grant-issuing agencies have set for grant applicants. Check out the grants for Black business owners who have compiled below.
The MBDA as the name suggests basically tells it all. Minority Business Development Agency is one agency that is committed to the process of providing funding for small minority business owners who have registered businesses, and need some financial support. The MBDA is also very vested in creating opportunities for businesses to grow with the MBDA.
The SBIR Grants program is designed to support small businesses in terms of providing funding opportunities for these businesses to help them thrive. -mandated set-aside program that aims to help small businesses stimulate technological innovation. This program also provides for some business support and technological backup in many areas of your business development.
FedEx is running a business grant program were electing the top 100 finalists and the winners. Grant awards range from $1,000 to $25,000. This is very helpful in creating some form of support system for businesses that are looking for funding opportunities to grow their small businesses in 2021.
The Grants.gov program management office gives an online option to grant applicants to find and apply for federal funding opportunities. The program provides detailed information on grant programs that are generally available to the public to apply for on their website.
The National Association of Black Accountants provides grant opportunities for Black business owners who are starting out, or trying to grow their businesses. NABA also provides helpful tools to help businesses with the tools and resources they need to grow their businesses.
Considering the challenges that Black-owned businesses already face, having to tackle a pandemic of such magnitude has a huge unfavorable impact to the tune of almost half of Black-businesses in 2020. The way it stands now, the future as promising as we may hope to envisage, the challenges are still very much here like always.
How to Support Black-Owned Businesses
Supporting Black businesses goes beyond making a statement of solidarity of some. sort, but helping create an enabling environment where Black communities, as they are usually more than just places that offer goods and services,” Tayo of Black-owned Brooklyn states. “They are community spaces for meeting and connection.
AfricanAmericanGrants.org feels strongly about the need to create a community where Black-owned businesses can access business funding opportunities such as African American Grants, and a space for other African-American business owners can freely showcase their Black-owned goods and services to the community.
Indeed, these places as mentioned above, are not just cultural zones, as it were, they may also include hubs, and even digital platforms to create an accessible community of Black business-minded individuals and entrepreneurs connect together. A place where its members understand the unsaid words and behavior of the group and the totality of what the community stands for.
As such, black provides programs and resources that the community needs. Especially given that Black business owners do not have the same access to the opportunities their white business counterparts have. Supporting Black-owned businesses therefore would in many ways, strengthening Black businesses helps strengthen our communities.
How to Find Black-Owned Businesses in your Area
Indeed, knowing how to find a Black-owned business where you live is essential to support them. One great way of finding Black-Owned businesses from Black women business owners to Black companies to Black stores is to look in our Black-Owned Business Directory.
This is a great way of showcasing your goods and services, growing your business, and connecting and contributing your own quota to growing the Black-Owned community. Whatever it is you may be interested in, there are a ton of tools and resources that you can utilize to your advantage, to help you gain the advantage of all the spots to find Black-owned businesses.
When you have found a Black-Owned business in your locality, then you can start to look at the different options that exist and start the process of supporting these businesses. One thing to bear in mind is that Black-Owned businesses are spread across cities, states and you can find many online using our search feature to sort through the hundreds of listings.
Why Support Black-Owned Business?
Why support a Black-owned business you ask? Well, supporting Black-owned businesses is helping create a lasting cultural and communal legacy that empowers members of the community while creating access to economic advancement for the people. This is one reason among many to support Black business owners who strive to make a difference through their business creation and contribution to the community.
Several Black-entrepreneurs have been known to start businesses motivated by the richness of Black experience, the African-American cultural heritage, and as such, should be supported to help maintain the cultural importance of the-Black-owned clothing stores, hair care, and make-up products, business consulting, and many other services provided by African-American entrepreneurs and business owners.
The support that African-American businesses get, in turn, gets passed onto the community. The support goes around and then helps with after-school programs, community empowerment programs, mentorship, and more to help the Black business owners take responsibility and build their own. This can be quoted as helpful in terms of creating a sense of doing your part to help the community thrive.
Black-Owned Business Making a Difference
AfricanAmericanGrants.org has scored through the internet, reviewed several word-of-mouth testimonials and several contributions to the advancement of the Black community, and has selected 41 Black-owned businesses that are making a difference in their own little way.
Black-owned businesses coming together under one umbrella is a great way to put forces together to grow our businesses and create opportunities for other Black business owners to follow. The inspiration you chance to get from seeing the contributions that are being made within the community can inspire you to make a change for the better when it comes to growing your business.
The combined efforts from black entrepreneurs, business owners, and other individuals who want to see meaningful changes in the growth and economic advancement of the group are a laudable step in the right direction. This and much more is what the businesses listed below have been able to do to uplift the others and create access to economic empowerment in their immediate communities.
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There you have it! These are businesses we have hand-picked for their contribution to growing the community through their businesses and goodwill. If you are a Black-business owner and would like to list your business on our Black-owned business directory for free, click here.
We come across business each day but may not think much about who may be behind it. Black-owned businesses are all around you and maybe hoping that you pick up the phone to call and place an order, visit their website and learn more about their services. This is what this article is about, helping us connect to a great start come 2021.
Together, contributing our own little quota can go a long way in making the much-needed difference that we need to help our community grow. The new year, 2021 comes with many expectations for Black-business owners everywhere and proving that much-needed support could just be all that a Black-owned business around the corner needs to stay afloat and thrive.