Although every small business grant is unique and has its own set of requirements, there are a few general steps you can follow to identify and apply for the grants that are most applicable to your business:
Do your research: Check out online portals like Grants.gov to identify grants that could be a good fit for your business. Attending small business conferences and chatting with peers in the industry can also be a great way to learn about small business grant opportunities that aren’t widely advertised.
Check your eligibility: Most grants have specific eligibility requirements. These rules can relate to demographic, education level, the age of your business, and other factors. Paying attention to these requirements could save you from spending time applying for a grant that might not be the right fit.
Apply on time: Block off time in your weekly or monthly schedule to apply for grants for your business. Although it can feel tough to find time to squeeze in applications, the payoff for winning financing for your startup can be huge. Make sure you apply on time to make your application stand out from the pack.
Track your applications: Creating a spreadsheet of the grants you have applied for and any upcoming deadlines is a great way to stay organized and motivated throughout the process.
Remember, it’s never a good idea to put all your eggs in one basket. In addition to grants, you should consider small business loans for women, venture capital firms, women-only business accelerators, and other funding options that might be relevant to you.