How To Get a Small Business Grant (2023)

Saving money as a small business owner can really be helpful as you grow your business for the future. One of the best ways to save money is to get a small business grant.

Because grants are money that your small business doesn’t have to pay back, they can help you buy equipment and inventory, advertise, make repairs to a property, or do all kinds of other things that help your company advance.

There are Grants for Many Different Areas

While there are grants local to states, cities, and geographic regions, another good way to find the money your company needs is to look for a small business grant specific to a certain area of your business.

In other words, there may be a grant that’s designed to help your company fund upgrades to your space or buy more equipment if you’re in the manufacturing sector. There are also grants for things like research and development, especially in the field of technology.

Overarching grants may have a lot more competition than more specific grants. Finding a grant that’s specifically for a certain area of the country and/or area of business gives you more of an opportunity to be selected due to a lower amount of competition.

There’s also no reason why you can’t apply for more than one grant, even if the grants are from the same organization. The more you qualify for and apply for, the more likely you’ll be to see the grant money you need to move your business forward.

The Type of Business You Have Matters

The kind of business you’re operating also matters when it comes to getting a small business grant. Some business types simply have more grant opportunities. With that in mind, you want to explore all your options so you can take full advantage of the grants that are available to you. 

Doing that means working with organizations in your area and also researching other places that offer grants to small businesses. You may be surprised at how many organizations and entities offer grants to business owners, and many of those grants go to smaller and medium-sized companies, including those that are just getting started.

By looking for specific grants for your type of business, you can focus your time and effort on grants you have the highest chance of getting. Then, if you have additional time, you can use it to apply for less-likely grants, as long as you still meet the requirements for them.

Looking for Savings is a Great Idea

Getting a small business grant is worth the time and effort required to apply for it. It can not only bring your company money to help it grow, but it can also help you make valuable connections in your community and through other organizations.

If you get turned down for a grant, keep going. There are always grants offered, and small businesses are popular with organizations that offer grants. The amount of money you receive could be significant, and even smaller grants can change the game for a business that’s just starting up or looking to expand.