7 small business incentives to check in 2023

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It’s like a scholarship for your business!

Main points

• The Grants.gov website (and app) offers a huge database of grants from a variety of sources and industries. You should also check with your local government/chamber of commerce.
• Some large corporations or industry organizations offer grants and other helpful resources to help you grow your business.

What do business loans, lines of credit, and small business credit cards have in common? They must return.

If you need financing for your small business but don’t want that debt cluttering your books, a grant may be the way to go. Grants typically don’t need to be repaid and may come with extras like training or mentors.

Similar to scholarships for education, grants for small businesses come in all shapes and sizes. You can get grants for businesses in certain industries, to develop specific products, help underserved communities, or have owners from diverse backgrounds. Here are a few helpful resources worth checking out.

1. Grants.gov

This massive database hosts thousands of grant opportunities across industries. It also features tools and tips on how to find, apply and use grants for your business. If you don’t know where to start, this is a good place to start.

Additional information: Grants.gov

2. Local Chamber of Commerce

The federal government is not the only provider of financial aid to small businesses; Your state and local governments may offer funding opportunities. Your local chamber of commerce can help you find grants from local businesses and local colleges.

Additional information: Chamber of Commerce directory

3. SBA Research and Technology Grants

The US Small Business Administration has a few grant programs for businesses engaged in scientific research and technology development: the Small Business Innovation Research Program (SBIR) and the Small Business Technology Transfer Program (STTR). Your small business must meet certain industry requirements and these grants are competitive.

Additional information: SBA.gov

4. NASE Growth Grants

The National Association for the Self-Employed (NASE) is an industry organization that provides growth assistance to qualified small businesses. Note that you need to be a NASE member for at least 90 days to apply for their grants.

Additional information: NASE.org

5. FedEx Small Business Donations

If your business involves shipping goods, you may qualify for the FedEx Small Business Grant. Open to small businesses with a FedEx shipping number in continuous operation for at least six months. Only businesses with fewer than 99 employees are eligible.

Additional information: FedEx gifts

6. Quick break for small business

The Quick Break for Small Business program is the result of a partnership between the Action Opportunity Fund and LegalZoom.com. Each year during the NBA season, they offer grants and LegalZoom products to eligible businesses. Your business must be at least six months old and have annual revenue of less than $1 million.

Additional information: Fast break program

7. Amber Grant

An organization dedicated to helping women achieve their business dreams, WomensNet awards dozens of Amber Grants each year in honor of 19-year-old Amber Wigdahl, who died before reaching her own business goals. The frequency and amount of support varies, but support is provided monthly, quarterly and annually.

Additional information: Amber Grant

Check the dates and read the fine print

The most important thing when applying for a grant is to make sure you meet all the criteria – including submitting your application before the deadline. Read all the fine print and requirements so you don’t miss out.