How to Apply for Grants for Women Starting a Business

The incredible growth of women-run businesses in the United States is due to a number of factors. Women are gaining college educations at a faster rate than in the past and social attitudes have evolved to reflect the equality of women in the workplace. Women who want to get their businesses off on the right foot should apply for grants aimed at women-run business endeavors.

Instructions

Difficulty: Moderate

Find Grant Funding for Female-Directed Businesses

1. Research technology and innovation grants promoted by the federal government. A group of women who are interested in developing software or providing online business consultations have a particular edge in landing startup money. The Small Business Administration has a long list of government agencies that provide grants for businesses with high-tech approaches (see Resources below).
2. Create a mission statement that explains why you are starting a business. This statement should focus on how your business helps women and the general community. Grant organizations utilize the mission statement in much the same way as hiring companies use cover letters--as an initial test of competency.
3. Outline other business grants you have received as you apply for a new grant. By disclosing your current grant funding, you may be able to receive small grants from companies that want to help build female-owned businesses.
4. Attach a page of testimonials as evidence of your company's viability within the community. You can solicit letters of recommendation from past clients, vendors and local leaders in your city. Highlight important quotes or paragraphs that will draw the eye of a grant reviewer who is buried under a pile of applications.
5. Design an organizational structure before you apply for a small business grant. When you are starting a business, there are few documents as important as an organizational flow chart because it shows the chain of command. Grant providers with an organizational chart in hand can evaluate your planned business.

Tips & Warnings

• Work with local non-profit organizations and universities to find grants for your business. There are a variety of small business groups in metropolitan areas, that set aside funds for women who want to start businesses. Public-to-private partnerships housed in public universities can provide female entrepreneurs with a combination of funds and research facilities.