Do you have plans to start a small business? If you’re struggling to find the funds or experience needed to take the next step, then you’re not alone.
The business landscape can be challenging. To give small businesses the boost that they need, there are several grants and programs available. Here, The Future Is Your Creation presents 3 grants and programs that can help you kickstart your small business.
Are Your Finances Organized?
Before applying for programs and grants, it’s important to take stock of what you already have. Managing finances in an efficient way is an important habit to form from the beginning.
Key aspects to consider include managing cash flow and keeping a record of finances. The benefits of organizing the business finances have an impact on business growth. Some benefits include:
- Avoiding overwhelming debt by managing costs
- Reducing risks by making informed decisions
- Realistic planning for future investment
- Gaining financial insight on company finances to help with future strategy, such as leadership development and expanding your organization
If financial management overwhelms you, then do not worry. There are plenty of financial tools that can help streamline financial tracking.
ERP Software as a Priority
With ERP software for your mid-level company for tasks like invoicing, sales tracking, and payroll, you’ll be able to grow your business by automating time-consuming tasks. A multi-function platform like QuickBooks can help simplify the process of tracking finances and forecasting. It can also help manage invoices effectively, specifically batch invoicing and multiple invoice retrieval that saves time (and money).
The software offers quick generation of invoices and the opportunity to duplicate the same invoices for multiple clients, and when integrated with payroll you’re able to combine yet another otherwise tedious admin task to better control and manage employee scheduling and time tracking.
Grants and Programs for Small Businesses
Once you’ve organized your business finances, you can begin applying for grants and programs. Here are three to help you in your search.
Warrior Rising is a non-profit that was started by combat veterans with an entrepreneurial spirit. The group is dedicated to helping fellow veterans start a business by providing various forms of assistance. Available resources include start-up grants, instruction, one-on-one mentorship, and a connected community.
Dedicated to empowering veterans in business, the group has already made a significant contribution. For example, Warriors Rising has donated 2,700 hours to training, mentoring, and educating veterans yearly. They have also assisted 3,014 veteran-owned business projects since 2015.
Financial assistance is possible through donors, of which only 15 percent is used for management and admin.
The Tony Burch Foundation’s Fellows Program
The Tony Burch Foundation’s Fellows Program invests both money and experience in the potential of women entrepreneurs. The year-long program offers multiple benefits and opportunities.
- One-year fellowship with virtual education, workshops, and intensives to grow the business
- The Premier Peer Network made up of a connected online community
- A grant to the value of $5,000 to advance business education
- A trip to the Tony Burch offices for workshops and networking
A total of 50 fellows will be selected for the program, barring that they meet the business criteria and eligibility requirements.
Operation Hope Small-Business Empowerment Program
Aspiring entrepreneurs from low-wealth neighborhoods face unique challenges when trying to make their business dreams come true. The Operation Hope Small-Business Empowerment Program is dedicated to supporting these groups.
Through financial counseling and business training, small businesses are empowered to find success. Participants enter an eight-week practical training program that covers basics and specifics on how to start (and grow) a small business.
Launching a business can be overwhelming if you don’t know where to begin with funding. Look at the above suggestions and tips for getting your finances in order, and the process can become a lot easier.
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