When you’re starting out in the business world, you won’t always have a monster budget to play with. So what can you do to get a little extra cash? One of the best ideas is to check out some of the available grants for startups and small businesses. There are plenty to choose from, so make a start with these five.
1. FedEx Small Business Grant Contest
The FedEx Small Business Grant is designed to help small companies achieve their goals and grow. The top prize is $25,000, along with money for company services. The FedEx competition is open for any biz that’s been running for six months plus. As well as this, you’ll need to have at least 99 staff. Further details can be found on the FedEx website.
2. The Amber Grant
The Amber Grant takes place once every month, awarding $2,000 in funding to a female business owner. Every year, one of the funding recipients receives an additional $25,000 grant! All you need to do to apply is to pay the $15 fee and fill in an online form. The program is run by WomensNet, a famous organization for female business leaders.
3. Visa Everywhere Initiative
The Visa Everywhere Initiative is a worldwide innovative program that helps small businesses solve commerce issues and payment challenges. So far, the Visa program has raised a whopping $2 billion. Every year four final contestants are asked to present their business for the ‘Visa Payments Forum.’
4. Nav’s 10,000 Business Grant
Nav operates as a financing marketplace for all types of company. They provide business grants of up to $10,000, (awarded each quarter). The organization also provides smaller offerings for third and second place. It’s dead easy to apply; simply get yourself a Nav account (it’s free). Once you’ve done this, all you have to do is write a social media post. In your post, you should detail what you’ll use the money for. Nav urges applications to be as creative as possible, and they especially love video posts!
5. Idea Cafe Grant
The Idea Cafe Grant offers $1,000 to only the very best and most innovative concepts. The grant is intended for businesses in the very early stages, who are yet to make much progress. If you’re a start-up looking for extra funding to get you off the ground, it’s well worth applying! To establish a success start up, sometimes a little support is just what you need.
When you’re developing your startup, there are several considerations you’ll need to make to protect your financial health. Firstly, you’ll need a strict budget and a robust accounting solution. It’s advisable to cut expenses where you can, whether it’s working remotely or DIY marketing. Lastly, don’t forget to invest in business insurance. This insurance will protect your finances and offer cover if a member of the public makes a claim against you. It’s simple to access business insurance online, to protect your assets and reputation.