Starting or growing a business can require money for equipment, technology, marketing, research, employees, inventory, and other expenses. Some entrepreneurs may qualify for grants or other financial assistance through government agencies, nonprofits, corporations, universities, and local organizations.
However, finding legitimate funding requires understanding what type of opportunity fits your business. There is no general federal grant from the U.S. Small Business Administration simply for starting or expanding a business. The SBA does offer limited grant programs for areas such as scientific research, exporting, manufacturing, and organizations that support entrepreneurship.
What Are Entrepreneur Grants?
Entrepreneur grants are funds awarded to eligible individuals, businesses, organizations, or projects for a specific purpose. Unlike a traditional business loan, a grant generally does not require repayment when the recipient follows the program's rules.
Grant opportunities can be targeted toward particular industries, business stages, communities, locations, or types of projects. Some opportunities may support:
- Business research and development
- New technology or product development
- Manufacturing
- Exporting
- Entrepreneurship training
- Community economic development
- Innovation and commercialization
- Businesses serving particular communities or markets
Who May Qualify?
Eligibility depends on the specific funding opportunity. Requirements may consider:
- Business type and structure
- Business location
- Industry
- Business size
- Stage of development
- Intended use of funds
- Revenue or financial need
- Research or innovation activities
- Ownership or founder characteristics
- Community or economic-development goals
Some programs are designed for organizations that help entrepreneurs rather than individual business owners. For example, SBA grants can fund organizations providing counseling, training, and other entrepreneurial support.
Check What You May Qualify For
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Programs vary based on eligibility, location, business type, and industry.
Types of Entrepreneur Funding to Explore
Small Business Grants
Some government agencies, nonprofits, corporations, and other organizations offer competitive grants for specific business purposes. Always review the eligibility rules and permitted uses before applying.
Research and Innovation Grants
Entrepreneurs developing new technologies or conducting scientific research may have additional opportunities. The federal SBIR and STTR programs provide competitive funding for qualifying small businesses conducting research and development with potential for commercialization.
Manufacturing Assistance
Some funding programs support manufacturing businesses through training, technical assistance, innovation, or other targeted activities. Eligibility varies by program.
Export Assistance
Entrepreneurs selling eligible products or services internationally may find programs designed to support exporting and international business development. The SBA identifies exporting among the areas where limited grant opportunities may exist.
Local and Community Programs
State, city, county, nonprofit, and community organizations may provide grants, training, business competitions, or other assistance for entrepreneurs. Local programs can sometimes be easier to overlook because they are not part of a nationwide grant program.
Business Training and Counseling
Funding is not the only form of assistance. SBA Resource Partners such as Small Business Development Centers and Women's Business Centers provide training and counseling to entrepreneurs.
How to Find Grants for Entrepreneurs
- Define what your business needs. Determine whether you need funding for startup costs, equipment, research, expansion, employees, technology, or another purpose.
- Check your eligibility. Read the complete requirements before spending time on an application.
- Look for industry-specific opportunities. Technology, manufacturing, agriculture, exporting, and other industries may have specialized programs.
- Search state and local programs. Economic-development organizations may offer entrepreneur assistance.
- Explore private grants and competitions. Foundations, corporations, and nonprofit organizations sometimes sponsor business funding opportunities.
- Consider non-grant funding too. Loans, investment capital, and other financing may be available when grants are not a fit.
The SBA also points entrepreneurs toward loans, investment capital, and other funding options in addition to grants.