5 Small Business Grants Black Women Should Take Advantage Of

Looking to boost your business potential? As a Black woman entrepreneur, you’re in a unique position to take advantage of certain grants that can make your progress significantly faster and smoother. It can take some time to familiarize yourself with all the details properly, but once you’ve picked out a few grants that can work well for you, it should be easy to integrate them into your business and see good results.

1. Halstead Grant

The Halstead Grant is perfect for those interested in jewelry design and related activities. It provides up to $7,500 in cash as well as $1,000 worth of merchandise, making it a pretty good boost for most small businesses. It’s aimed at women entrepreneurs who are currently in the early stage of their work in jewelry. Specifically, your business should be less than three years old to be eligible.

2. Amber Grant

The Amber Grant can be given to anyone, regardless of the specific industry they operate in. It pays out $10,000 to 12 recipients each month, and the only criteria is that you should be a woman, 18 years old (or close to that) and of course, be involved in a business, even if it’s a work at home business. The specific line of work of your company is irrelevant here, making the Amber Grant one of the more attractive ones at the moment.

3. #GIRLBOSS Foundation Grant

Another grant aimed at fashion and entertainment entrepreneurs, the #GIRLBOSS Foundation Grant, can give you up to $15,000 if you’re involved in design, music, fashion or any artistic field. The main criteria is that you need to be a woman involved in any of these fields, but other than that, it’s up to you exactly what you’re going to do with the money. Keep in mind that you have to apply as an individual, though. Businesses and other similar entities are barred from entry.

4. Cartier Women’s Initiative Award

One of the more powerful grants on the market right now, the Cartier Women’s Initiative Award is valid for any line of work and can provide you with up to $100,000. There’s also a $30,000 bonus delivered to 14 finalists in the process, while seven are awarded the full $100,000 prize. It’s a highly competitive grant and might not be very easy for you to get in, but once you’ve managed to, it’s a fantastic opportunity. Don’t be disappointed if it doesn’t work out the first time, though — as we mentioned, it’s something that many people apply for on a regular basis.

5. Open Meadows Foundation

You have to be involved in a non-profit organization to be eligible for the Open Meadows Foundation grant, but if you pass the requirements, you can be awarded $75,000. It’s not a small sum for all things considered, but the criteria for applying is also somewhat stricter than with other grants. You should do plenty of research before applying for this one, as there are many small details which might disqualify you if you’re not careful. Even some experienced organizations regularly face trouble trying to navigate the requirements of the Open Meadows Foundation grant.

There are also other options on the market that are worth exploring. You should pay attention to any new grants being announced that might be relevant to you, as well. The business world is highly dynamic and moves at a rapid pace, requiring you to stay on your toes on a regular basis.

On the bright side, if you’re the kind of person who knows how to do research, you can reap some serious benefits by finding good grants and taking advantage of them. It doesn’t even take that much effort to familiarize yourself with how the system works, so get started!