Business grants for black women: A guide to funding your entrepreneurial dreams

Starting a business can be a daunting task, especially for black women. According to a study by the National Bureau of Economic Research, black women are less likely to receive funding from banks and venture capitalists than white men. This is due to a number of factors, including systemic racism and discrimination.

However, there are a number of grants available to  entrepreneurs who are looking to start or grow their businesses. These grants can provide much-needed financial assistance and support.

Here is a guide to some of the best business grants for black women:

  • The Goldman Sachs 10,000 Small Businesses Program: This program provides $10,000 grants and business training to underserved entrepreneurs.
  • The Black Women Talk Tech Accelerator: This accelerator provides black women entrepreneurs with mentorship, training, and funding to help them launch and grow their businesses.
  • The Women’s Business Enterprise National Council (WBENC): WBENC offers a number of grant programs for women-owned businesses, including the WBENC Diversity Grant Program, which is specifically designed for black women entrepreneurs.
  • The National Black Chamber of Commerce (NBCC): The NBCC offers a number of grants and resources for black-owned businesses, including the NBCC Minority Business Development Grant Program.
  • The U.S. Small Business Administration (SBA): The SBA offers a number of grants and loans for small businesses, including the SBA Microloan Program, which is specifically designed for businesses with fewer than 10 employees.

In addition to these specific grants, there are also a number of general business grants that black women entrepreneurs may be eligible for. For example, the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are both federal grant programs that provide funding to small businesses for research and development projects.

To find out more about business grants for black women, you can visit the websites of the organizations listed above. You can also search for business grants on the websites of the federal government and your state government.

If you are a black woman entrepreneur who is looking for funding to start or grow your business, there are a number of grants available to you. By doing your research and applying for grants that you are eligible for, you can increase your chances of receiving the financial assistance you need to achieve your entrepreneurial goals